NEWEYE Attracts Seed Investment from Series Ventures to Advance Innovative Tax AI Solutions

NEWEYE, a Korean startup specializing in tax solutions for assets like real estate, has secured a seed investment of KRW 300 million from Series Ventures. In 2023, NEWEYE was chosen for the Busan Creative Economy Innovation Center‘s initial startup package, participating in the Media Contents Marketing (MCM) program, which supports video production and social media promotion.

Additionally, it received an average of 50 million won in commercialization funds. These efforts facilitated product development and promotion, leading to its recognition as Busan’s representative technology startup company (Bright Club) this year. 

Moreover, NEWEYE has introduced ‘TAX AI’, the first solution in the tax industry to employ an algorithm that determines the type of capital gains tax. It provides sales simulations for multiple homeowners and utilizes AI to determine the optimal tax type for various asset-related taxes, including acquisition, holding, gift, and inheritance taxes. The solution allows for comparison simulations across different tax types and conditions.

The seed investment, totaling 300 million won, is managed by the ‘Dandi Hamo Startup Investment Association No. 1’ fund, under Series Ventures, a partner of the TIPS program. Major investors include Busan City, Gyeongsangnam-do, National Korea Maritime and Ocean University, and Inje University. Additionally, Series Ventures is supporting NEWEYE’s participation in the TIPS program, along with its commercialization and operations.

Kim Dong-hyun, CEO of NEWEYE, stated, “Despite the difficult investment climate, this funding will strengthen NEWEYE’s technological capabilities and business viability, ensuring our solutions are well-received in the market.”

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