Naver Invests in UVify as It Expands Into Drones

Naver Corp. has taken a stake in South Korean drone startup UVify, moving to secure technologies tied to drones and advanced air mobility as the physical artificial intelligence industry broadens beyond autonomous driving.

Naver said June 1 that it invested in UVify, without disclosing the amount. Founded in 2014 by Chief Executive Officer Lim Hyun, who holds a doctorate in aerospace engineering from Seoul National University, UVify develops drone swarm-flight technology and autonomous flight platforms. The company, which targeted overseas markets from its early days, became the first South Korean drone company to receive the government's "$10 million Export Tower" award in 2024.

UVify is also the only South Korean company on the board of the Dronecode Foundation, the global organization that oversees PX4, the open-source flight-control software and operating system often described as the Android of the drone industry. The company posted about $10.9 million in revenue last year and operating profit of about $730,000.

The market for robots and physical AI equipped with autonomous-driving functions is forecast to expand into drones, advanced air mobility and urban air mobility in the coming years. Counterpoint Research estimates cumulative shipments of physical AI devices will reach 145 million units between 2025 and 2035. The research firm said robots, autonomous vehicles and drones will be the main sectors driving that market over the period.

UVify's drone-swarm control technology could also become an important pillar of Naver's smart-city solutions business.

Chief Executive Officer Choi Soo-yeon said drones are drawing attention as one of the key technologies of the future as AI expands into the physical world. She added that the two companies would create possibilities across various fields through the synergy of their technologies.

Heo Jin, Korea Economic Daily reporter hjin@hankyung.com