Cloud & , a company developing smart building energy management solutions, has been selected as the second investment company for the Ansan Youth Startup Fund. Cloud & held a plaque presentation ceremony on the 3rd and announced that it has attracted a total of 1.2 billion won in investment from Ansan City.
Cloud & is a company that possesses wireless IoT and cloud-based artificial intelligence (AI) optimal control technology, and provides an integrated platform that efficiently manages energy use by collecting and analyzing data on heating and cooling, lighting, and major facilities in buildings in real time. The collected data is automatically analyzed and controlled by AI on the cloud, thereby simultaneously reducing energy costs and carbon emissions. The technology is evaluated as a solution that can contribute to securing operational efficiency and sustainability for companies that pursue ESG (environment, society, and governance) management.
Since its establishment in 2015, Cloud & has been advancing its technology through collaboration with government and university research institutes for 10 years, and recently, it has been actively promoting the FEMS (Factory Energy Management System) project, an energy management system for manufacturing sites. This system is equipped with a life cycle assessment (LCA) function, which can quantitatively evaluate and manage carbon emissions from industrial sites such as automobile factories.
Ansan City Youth Entrepreneurship Fund is a fund established in the second half of 2022 to promote local youth entrepreneurship, and aims to reach a total of KRW 100 billion. Currently, a total of KRW 104.6 billion is being managed in the first and second funds, and S Ventures and HB Investment are participating as joint managers. Ansan City has completed the central investment review of local finance and the approval of the city council's investment agreement for the formation of the third fund in the second half of this year.
Cloud & CEO Kim Jeong-seok said, “Based on the technology and experience accumulated over the past 10 years, we have proven our competitiveness not only in the domestic market but also in the Southeast Asian market,” and “With this investment as an opportunity, we will further strengthen the company’s capabilities and continue to grow in the domestic and international energy management markets.”
S-Ventures Co-CEO Do Seung-hwan said, “Cloud & has high technological prowess in the fields of commercial building energy management and small and medium-sized facility maintenance, and has also successfully completed demonstration projects in Thailand and Vietnam,” adding, “We expect its growth into a global company in the future.”
Ansan Mayor Lee Min-geun said, “Youth entrepreneurship is one of Ansan’s future growth engines,” and added, “We will strengthen administrative and financial support so that technology-based innovative companies such as Cloud & can continue to grow.”
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