EV firefighting startup Lee Mobility gets seed round

South Korean startup Lee Mobility announced on Tuesday that it got a seed round investment from Bluepoint Partners, a domestic early-stage venture capital firm, to advance its electric vehicle (EV) fire suppression technology.

The terms of the investment, including the amount and the company’s valuation, were not disclosed.

Lee Mobility aims to address the growing issue of EV battery fires, with more than 70 incidents reported in South Korea last year.

The company has developed a solution that can penetrate the underside of an EV battery and initiate fire suppression without the need to lift the vehicle.

According to Lee Mobility, the technology can reduce the time needed to extinguish a battery fire from up to 72 hours to about 10 minutes.

The company is working on a stationary system for installation at EV charging stations, as well as a mobile version.

The system, which can be operated remotely, enhances safety and minimizes the production of firefighting wastewater.

Lee Mobility’s solution has been recognized as an innovative product by South Korea’s Public Procurement Service, making it eligible for direct purchase by government agencies.

Write to Eun-Yi Ko at koko@hankyung.com