"100 billion won for deep tech"... Hyosung Ventures executes first startup investment

[Financial News] Hyosung's corporate venture capital (CVC), Hyosung Ventures, announced on the 11th that it has officially launched the 'Startup Korea Fund' worth 100 billion won and executed its first investment in four deep tech startups.
The companies Hyosung Ventures invested in this time are △ AI-based new drug development company 'Izen Science' △ social commerce platform 'Wired Company' △ smart logistics solution company 'Near Solution' △ convergence security company 'Kuntech', totaling four.
This investment was made through the Startup Korea Fund jointly established with Korea Venture Investment last December, and funds were executed twice on June 27 and July 10.
The Startup Korea Fund is a fund to intensively support deep tech startups in the fields of '10 super-gap technologies' such as △ bio/health △ eco-friendly/energy △ robots △ system semiconductors △ AI △ aerospace/marine △ next-generation nuclear power △ quantum technology. Hyosung Ventures plans to lay the foundation for the growth of the domestic technology startup ecosystem through this fund.
Looking at each investment company, Izen Science has a new drug development platform that combines generative AI and reinforcement learning, and has the technology to shorten the period for deriving new drug candidates to within six months through big data-based analysis. Last year, it was also selected as the lead agency for the 'New Drug Development Acceleration Project' by the Ministry of Health and Welfare and the Ministry of Science and ICT.
Wired Company operates the social commerce seller-exclusive platform 'WIREDY', integrating the entire process from product sourcing to settlement, delivery, and customer response. It is attracting attention along with the growth of the social commerce market by incorporating AI-based sales prediction functions.
Near Solution is an AI-based logistics and production operation integrated management solution company that provides advanced functions such as △ robot linkage △ route control △ work order optimization. It can apply a customized facility environment and received the highest grade of TI-1 in the Technology Credit Bureau (TCB) last year.
The convergence security specialist Kuntech is specialized in operational technology (OT) security and software supply chain security, securing customers in various industries such as finance, manufacturing, and public sectors. Its growth potential is noted in line with the increasing demand for security with digital transformation.
A Hyosung Ventures official said, "This investment is the first step to support technology-focused startups," adding, "We will continue to contribute to the activation of the deep tech startup ecosystem by discovering and supporting promising technology companies."
Meanwhile, Hyosung Ventures, in addition to the Startup Korea Fund, has invested a total of 32 billion won in eight startups in the fields of △ AI △ information and communication (IT) △ materials △ fintech through the 'Hyosung CVC Scale-up New Technology Business Investment Association No. 1 Fund' established together with the Korea Institute for Advancement of Technology (KIAT).

moving@fnnews.com Lee Dong-hyuk Reporter