Willog Secures Series B Funding for Enhanced Logistics Data Solutions for Global Expansion
The Korean logistics data monitoring solution company, Willog, has secured Series B investment just two years after its establishment. Nvestor, Woori Venture Partners, NAU IB Capital, IBK, Wonik Investment Partners, Woori Bank, NBH Capital, and Cape Investment Securities participated in this investment round.
Willog, founded in 2021, is a logistics data monitoring solution company. It offers a platform based on their proprietary data loggers to monitor various factors that influence product quality during transportation, such as temperature, humidity, and impact. The analyzed data helps companies establish mid-to-long-term business roadmaps and apply the insights to their on-site operations.
Willog has proven its solution’s safety by obtaining certifications for three international standards from ISO-certified bodies. Last year, it experienced rapid growth by securing numerous clients, including domestic and international pharmaceutical companies, wholesalers, logistics firms, and other businesses that require cold chain solutions.
The company’s competitiveness in the construction of smart logistics infrastructure, a part of the government’s New Growth 4.0 strategy, played a significant role in attracting this investment.
With the investment, Willog plans to focus on enhancing customer experience through technological advancement and service sophistication. They also aim to expand their influence in the market by venturing into related business sectors and global market expansion. A strong emphasis will also be placed on recruiting and fostering key talents for a diverse service expansion.
Mr. Jo Seong-woo, a director from the new investor, Wonik Investment Partners, commented, “The domestic and international logistics industries are highly volatile due to various factors. Therefore, the importance of smart logistics technology that can respond consistently and agilely is growing daily. We highly value the fact that Willog developed an optimized technology for the cold chain market, which has been slow to digitalize, solved the core issue of logistics digitalization, and rapidly grew while gaining recognition for its technical strength and stability. We anticipate Willog to achieve further growth as a global player through market innovation.”
Yoon Ji-hyun, the CEO of Willog, stated, “In the face of the global economic downturn and rising interest rates, securing valuable momentum for digital logistics transformation is of great significance. We will do our best to enhance our solution’s technical strength to differentiate ourselves and satisfy our customers.” He also added, “We will use this investment as a stepping stone to further solidify our position as a leading logistics IT company.”
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