AIoT-based energy solution company Seed & announced that it has completed attracting approximately KRW 6.5 billion in Series A investment. Lead investor Murex Partners, along with GS E&C’s venture capital subsidiary Xplo Investment, IBK Industrial Bank of Korea, and SK Shielders participated as new investors. With this, Seed &’s cumulative investment has exceeded KRW 10 billion.
Seed and is developing technology to improve power efficiency by controlling power devices in buildings with AI and cloud technology. In particular, it analyzes energy consumption factors including heating and cooling systems in real time and provides a subscription service that can control hundreds of stores simultaneously through cloud-based technology. Its main customers are businesses with existing power devices installed, such as retail stores.
According to the company, the 'Caps Smart Heating and Cooling' business, which was carried out in collaboration with SK Shielders, was the driving force behind the success. The business saw sales increase by about 477% from 745 units to 4,300 units in just one year after its launch. The customer base also diversified from food and beverage stores to household goods stores, furniture stores, manufacturing plants, and apartments.
Choi Hyun-woong, CEO of Seed &, said, “With this investment, we plan to strengthen our existing partnership business as well as accelerate the launch of new services,” and “We plan to launch ‘Leaf Office’ and ‘Leaf X,’ electricity cost-saving solutions for offices and factories, in early May.” The services are specialized in energy efficiency management of large-scale facilities, and we plan to build a comprehensive building energy management platform by launching additional products in the future, such as air quality sensors, smart outlets, and lighting switches.
Murex Partners, an investment firm, found Seed&’s competitiveness in the vast amount of data accumulated through long-term field testing. Murex Partners CEO Kang Dong-min evaluated that “the core competitiveness of Seed&’s energy management solution is utilizing field-based data such as various spatial environments, seasons, climates, and equipment placements.”
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