AI All Funding Startup News in Korea (Korean Startup News)

Omelet Secures Seed Funding for AI-Driven Industrial Decision-Making Solutions from Kakao Ventures

2024-02-28 2 min read


Omelet Secures Seed Funding for AI-Driven Industrial Decision-Making Solutions from Kakao Ventures

Reading Time: 2 minutes

Korean startup Omelet, which develops generative AI-based decision-making automation solutions, has secured seed funding from Kakao Ventures.

Omelet is crafting an AI optimization solver aimed at automatically resolving complex decision-making problems in industrial contexts. It employs generative AI to tackle combinatorial optimization algorithms, which are crucial for determining optimal operation sequences and resource allocation strategies. Combinatorial optimization is the process of identifying the best solution from a range of options in scenarios where mathematical calculations are challenging.

This technique is pivotal in reducing inefficiencies and enhancing productivity in industrial contexts, with applications including the determination of transportation routes, equipment operations, and resource allocation sequences.

Offered as a Software as a Service (SaaS), the AI optimization solver enables companies to construct a tailor-made decision-making system simply by inputting their problem data. Omelet has accumulated learning data by iteratively solving a wide array of combinatorial optimization issues across different industries, allowing it to devise solutions for any presented problem.

This method boasts greater speed and accuracy compared to the traditional approach, which involves engineers analyzing system characteristics, constructing mathematical models, and applying suitable algorithms. By reducing reliance on experts, it facilitates the resolution of widespread issues at a reduced cost.

Omelet’s technology has potential applications across a broad spectrum of industries. It has already been implemented in logistics system management and in controlling unmanned autonomous robots within factories. The company has demonstrated its effectiveness through a Proof of Concept (PoC) with a logistics firm, focusing on optimizing logistics delivery algorithms.

There are plans to broaden the application of this technology to semiconductor design and new drug development. This year, Omelet aims to release its logistics delivery optimization software, OaaSIS (Optimization as a Service·Infra·System), which is designed to enhance the efficiency of work assignments and sequencing for logistics delivery.

Omelet was established in 2023 by a team led by KAIST professors, including Professor Park Jin-kyu (CEO) and Kwon Changhyun (CTO) from the Department of Industrial and Systems Engineering, along with doctoral graduates from their laboratories. Omelet was chosen for the Ministry of SMEs and Startups’ Deeptech TIPS program, which supports promising startups with up to KRW 1.7 billion over three years.

Jang Won-yeol, a principal analyst at Kakao Ventures, commented, “Omelet boasts a team with world-class AI technology and optimization skills,” and he is optimistic that “it will make a significant impact in the market by addressing issues like labor shortages and rising energy costs in the logistics and manufacturing sectors.”

Park Jin-kyu, CEO of Omelet, stated, “Existing generative AI models have mainly aimed at automating tasks where humans are more efficient. However, Omelet’s generative AI optimization technology is set to offer innovative services that can tackle complex challenges once deemed unsolvable.” He further committed to “driving the company forward by developing solutions that address the numerous inefficiencies found in industrial environments.”

[Korean Gen AI Startup News]

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