South Korean AI commerce ‘Enhans’ raises KRW 7.5 billion in Series A funding
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Enhans, a South Korean AI commerce solutions startup, has raised KRW 7.5 billion in Series A funding.
The round was led by Hyundai Venture Investment, L&S Venture Capital, and KDB Capital, which all participated in follow-on investments. Timefolio Asset Management and AOA Capital Partners also joined the round as new investors.
Enhans was founded in 2021. The company was previously known as Viral Pick, but it changed its name to Enhans to strengthen its presence in the global market and clarify its vision for the future.
Enhans develops action-based AI models that use data technology to maintain and manage product information from around the world in real time and in a time series. The company has registered 11 patents for big data and automation in the United States and Korea, and it currently offers SaaS (Software-as-a-Service) services on a subscription basis.
Enhans provides B2B brand acceleration SaaS solutions to help brands enter the domestic commerce market, as well as the U.S., Southeast Asia, and Europe markets through Amazon, Shopee, and other platforms. The company’s solutions are already being used by several major domestic companies, including Samsung Electronics, for their domestic and international commerce operations. Enhans was recognized for its technology and performance last year by the Korea Credit Guarantee Fund, which selected it as a First Penguin.
Over 80% of enhans’s employees are IT professionals, including experts in big data, AI, and software development. The company’s team includes a diverse group of talent from global top universities such as Seoul National University, KAIST, Tsinghua University, and Carnegie Mellon, who have worked at tech giants such as Samsung Electronics, Kakao, Coupang, and eBay. The company is accelerating its efforts in hyperautomation, or AI-based hyperautomation.
Enhans CEO Lee Seung-hyun said, “We are proud to have been able to prove our AI technology through revenue and major customer results this year. Based on this investment, we plan to accelerate our expansion into the North American, European, and Southeast Asian markets. We will also actively recruit key talent to accelerate our scale-up.”
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