The Invention Lab, an early-stage startup investment firm and TIPS operator, announced on the 3rd that it has completed seed investment in 5Grits, which operates the ' Carsub ' platform.
This investment was executed through Hi Seoul Deep Tech Private Investment Fund No. 1 operated by The Invention Lab. Hi Seoul Deep Tech Private Investment Fund is a fund that invests in early-stage companies with deep tech technologies such as AI, robotics, aerospace, and mobility, as well as promising startups in the B2C/B2B sector, and aims to revitalize the startup and tech industry ecosystem in Seoul.
5Grits started as an LG Uplus in-house venture in December 2023 and is currently operating the 'CarSub' platform that mediates used imported car parts transactions. CarSub efficiently connects used parts transactions between imported car owners and suppliers including junkyards, and is a platform that supports the entire process from parts supply to labor cost linkage. It also provides additional services such as a vehicle failure symptom self-diagnosis function and an inventory management solution for suppliers.
Kim Min-soo, director of The Invention Lab, said, “Carsub is a rare case that has proven its growth potential by quickly conducting initial customer verification in the closed imported car used parts market, securing a closed junkyard network, and generating actual sales,” and explained, “We decided to make this investment after closely observing its growth process since the LG Uplus in-house venture program.”
“5Grits is a team with high potential for commercialization and global expansion based in Seoul,” said Chairman Jeong Yoon-geun of the Hi Seoul Enterprise Association, which jointly operates Hi Seoul Deep Tech Private Investment Association No. 1. “We will support their continued growth through the association’s network.”
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