Follow-On Investment the Year After Founding: INTELLIZ Secures Funding from Hankook Tire & CNTTech Fund
Following the 2021 seed investment from Wintec, the company, which makes AI machine vision inspection for manufacturing sites, received funding from a…
Following the 2021 seed investment from Wintec, the company, which makes AI machine vision inspection for manufacturing sites, received funding from a mobility startup fund. The amount was not disclosed.
The "Hankook Tire & CNTTech No. 1 Mobility Startup Investment Fund" invested in INTELLIZ, a Korean AI machine vision company led by CEO Hyunsik Na, in August 2022. The KOREA AI Startups company page gives the investment date as August 16. The amount was not disclosed. It was a follow-on investment the year after the company was incorporated in 2021. INTELLIZ received seed investment in 2021 from KOSDAQ-listed Wintec (KOSDAQ:320000). INTELLIZ's business is AI machine vision inspection at manufacturing sites. Product deliveries also followed. INTELLIZ delivered an AI inspection system for reusable containers in 2022, and KOREA AI Startups listed delivery of AI inspection systems for recycled cups in its sales details as of June 30, 2022. Earlier, in 2021, the company was selected for the UK Corporate Vision 2021 Global Business Awards with its AI-based high-speed product inspection and sorting machine. Also in 2022, it was certified as a venture company (venture investment type) and selected for Korea Credit Guarantee Fund's investment-option guarantee program, and it established the Seoul R&D Center and was recognized as a Corporate R&D Center. According to Digital Times (March 6, 2019), Korea Credit Guarantee Fund's investment-option guarantee is a product that allows a guaranteed loan to an early-stage startup to be converted into an investment later. References: KOREA AI Startups, Digital Times