CIT Secures 1.1 Billion Won Seed Investment for Advanced Communication Noise Reduction Technology
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CIT, a Korean startup researching and developing materials that reduce the noise of communication devices using metal single crystals, has secured a seed investment of 1.1 billion won and has been selected for TIPS(Tech Incubator Program for Startup Korea). The seed round saw participation from Smart Study Ventures, MIRAEHOLDINGS, Busan National University Tech Holdings, and the Technology Credit Guarantee Fund.
Previously selected for the Busan Creative Economy Innovation Center‘s 2023 Pre-startup Package and the ‘B.Startup PIE Accelerating Program’, CIT will receive up to 700 million won in research and development funds over two years, business linkage support, and overseas marketing funds through TIPS.
Leveraging this investment, CIT plans to secure sales through the advanced design of Low loss Cables for industrial use employing metal single crystals, verification by client companies, and mass production of low dielectric constant FCCL for 5G and 6G ultra-fast communications. They also plan to expand their product portfolio by incorporating additional materials and are establishing research and pilot production equipment and facilities to push for technical approvals from client companies.
Jang Han, PM of the Busan Creative Economy Innovation Center, stated, “We look forward to the future of CIT, which is set to lead the core technology of the future communication industry.” He added, “We will continue to support the passion and efforts of startups, aiding them in realizing innovation and growth.”
Jung Seung, the representative of CIT, said, “Using the funds from this investment round, we will produce lab-scale samples and conduct joint research with leading domestic and international companies and researchers. We aim to quickly develop scale-up technology and grow into a leading material component equipment company in South Korea.”
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