All Funding Startup News in Korea (Korean Startup News)

JLT, Korean Welding Tech Startup, Secures $2.5M Investment for Industry Leadership

2024-02-08 < 1 min read

JLT, Korean Welding Tech Startup, Secures $2.5M Investment for Industry Leadership

Reading Time: < 1 minute

Korean startup JLT, specializing in factory automation equipment, has secured a KRW 3 billion($2.5M) investment in a seed funding round, with the Korea Technology Finance Corporation(KIBO) and KB Securities participating. 

JLT’s core technology involves real-time welding inspection, tracking welding lines for data, and optimizing welding quality, setting it apart from traditional methods. 

Recognized for simplifying processes and reducing costs, JLT currently supplies its cutting-edge technology to major players in electric vehicle and ship manufacturing, including LG Magna, Semes, and Hyundai Robotics. 

With this investment, JLT aims to enhance its welding automation and integrated inspection systems, aspiring to become a leader in the industry after achieving KRW 10 billion in revenue in its fifth year. 

The company is actively focusing on technological advancements through a welding solution development project with the Korea Institute of Industrial Technology (KITECH) and expanding its presence in ship welding solutions through a recent Proof of Concept (PoC) with Hyundai Heavy Industries. 

Jung Hyun-woo, JLT’s CEO, expressed the company’s commitment to using the investment to localize solutions, develop streamlined inspection equipment, and contribute to establishing Korea as a hub in ship and automobile manufacturing.

[Smart Factory News]

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