AIMMO secures KRW 14.4 billion pre-IPO investment to expand global business
AIMMO, a global artificial intelligence (AI) data solution company, raised KRW 14.4 billion pre-IPO investment. Nvestor, Korea Investment & Securities, DS Asset Management, S&S Investment, and ENInvestment participated in this round. The investment institution highly valued AIMMO’s business model and the possibility of expanding its overseas sales.
The funds raised of investors will be used for activities to strengthen AIMMO’s global business capabilities such as △Advancing self-driving data solution AD-DaaS △Development of edge devices for data collection △Completion of full-cycle solution of AI data △Establishment of U.S. and German corporations.
AIMMO’s AD-DaaS is a solution that enhances the performance of AI algorithms by providing data sets optimized for autonomous driving. AD-DaaS provides professional annotation data by analyzing operational design domain (ODD), defining scenarios, and curating datasets at optimal configuration rates. Through this, company customers can focus more on AI model development by maximizing efficiency that saves time and money to build data. With this differentiated technology, AIMMO secured global OEM companies BOSCH, Continental, Magna International, and Tata Motors as customers, laying the groundwork for increasing overseas sales.
In addition, following the autonomous driving sector, the project is closely discussed with customers in the smart city industry, so it will steadily expand the scope of the industry where overseas sales occur.
CEO Oh Seung-taek said, “AIMMO is recognized not only in the domestic market but also abroad, and is actively carrying out the project by signing supply contracts in Europe, North America, and Japan. We will make all-out efforts to expand our global business with this pre-IPO investment attraction, and we will provide more advanced data full-cycle services.”
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