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

LINKFLOW Secures KRW 11.5 Billion in Series C Funding for AI Wearable Camera Tech

2024-04-04 2 min read


LINKFLOW Secures KRW 11.5 Billion in Series C Funding for AI Wearable Camera Tech

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LINKFLOW, a South Korean startup specializing in ‘On-Device AI Wearable Camera Solutions,’ has secured a Series C funding of KRW 11.5 billion from several investors, including SBI Investment. This investment brings the total raised to KRW 34.7 billion. Founded in 2016 as a spin-off from Samsung Electronics’ C-Lab in-house venture program, LINKFLOW has developed and marketed innovative wearable camera solutions. Its flagship products include ‘FITT 360,’ designed for the metaverse and first-person video content market, and ‘NEXX 360,’ aimed at enhancing safety and security for B2B clients. LINKFLOW is notably the first company globally to successfully develop a neckband-type 360-degree video stitching solution.

Products such as ‘NEXX ONE’ and ‘NEXX 360’ stand out in the market for their superior security technology, making them the only wireless video transmission devices to receive a public institution-specific security performance quality certification (TTA). They have been actively deployed in various public institutions and local governments, leveraging on-device AI for privacy protection. Presently, LINKFLOW holds over 80% market share in the public wearable camera sector, expanding its reach into areas beyond civil services, including the police and fire departments.

Within five years of its inception, LINKFLOW achieved a significant milestone by being recognized as a ‘Preliminary Unicorn Special Guarantee Company’ by the Ministry of SMEs and Startups, a testament to its valuation exceeding KRW 100 billion. The company has shown remarkable revenue growth, with an annual growth rate (CAGR) of over 80% from 2020 to 2022. Additionally, LINKFLOW has earned accolades for its technological innovation, receiving the ‘Innovation Award’ at CES for three consecutive years and being selected for the ‘2023 Defense Innovation 100’ and the ‘2023 Next-Generation World Class Product.’

Following its accolade as a ‘2023 Defense Innovation 100’ enterprise, LINKFLOW is vigorously expanding into the global police and defense markets, targeting regions like the US, the Middle East, and Eastern Europe, focusing on markets that demand on-device AI capabilities. In the US, the company collaborates with telecommunication service providers on 5G sales and in Japan, supplies its products to major electronics retailers like Yodobashi. The company plans to maintain and expand its global partnerships.

Yong-guk Kim, CEO of LINKFLOW, shared, “This investment will fuel our plans to launch new products aimed at the B2C market and to make a significant entrance into the US market this year. We are committed to building our competitive edge across various sectors, including leisure, security, law enforcement, and defense.”

Looking forward, LINKFLOW is setting its sights on an IPO through a technology-special listing in 2025, with NH Investment & Securities leading the preparations as the principal underwriter.

[Funding News in Korea]

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