All Funding Startup News in Korea (Korean Startup News)

FreeGrow Secures 1.5 Billion KRW in Series A for Indoor Navigation Expansion

2024-05-29 < 1 min read

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FreeGrow Secures 1.5 Billion KRW in Series A for Indoor Navigation Expansion

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FreeGrow, a Busan-based Korean startup that develops indoor space information systems “GrowStudio” and “GrowMaps,” has secured 1.5 billion KRW in Series A funding from BNK Venture Investment. Specializing in indoor space information systems, FreeGrow has earned recognition for its technology, including signing a Memorandum of Understanding (MOU) with COEX to provide the official indoor navigation system for the COEX website.

FreeGrow partners with exhibition organizers like Messe Esang and Kyungyon Exhibition Corp, to provide indoor navigation systems for large-scale events such as Korea Build Week 2024 and KOREA PACK & ICPI WEEK 2024, ensuring easy navigation for attendees.

With this investment, FreeGrow plans to launch a new business focused on an indoor space information platform and aims to expand its operations in various domestic and international markets. The company also intends to enhance user experience by adding various features through continuous user testing.

BNK Venture Investment stated, “FreeGrow’s indoor navigation system offers an innovative solution for navigating indoor spaces and has tremendous growth potential.”

Kim Young-sik, CEO of FreeGrow, said, “We are pleased that the technological capabilities and market potential of GrowStudio and GrowMaps have been recognized through this investment. We will focus on improving usability to enhance the quality of life in indoor environments, aiming to establish ourselves as a leader in indoor space information. Our vision is to create more convenient and smart indoor environments through our systems and to expand globally.”

[Korean Proptech Startup News]



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