Geogrid (CEO Ki-hyun Kim), a water tech startup developing smart water purification solutions for buildings, announced that it is accelerating its overseas market expansion by attracting investment from Silicon Valley-based venture capital firm 500 Global. Through this investment, Geogrid plans to expand its presence in the Asian and global markets and accelerate the distribution of next-generation building water purification solutions.
Geogrid has commercialized a technology that solves the problem of aging pipes and improves water quality to a potable level through its building-level water purification solution, BLOS (Building Oasis). This technology provides sterilization, rust and scale removal functions without replacing existing pipes, enabling clean water to be supplied from all faucets in the building. In addition, real-time water quality data can be provided to continuously monitor and manage the water quality and pipe condition in the building.
Geogrid's innovative solutions have been proven in many old buildings and public institutions in Korea, and are receiving attention in the global market as they are recognized for their effects in reducing carbon emissions and improving energy efficiency.
500 Global is a global venture capital firm that has invested in over 3,000 startups in over 80 countries around the world, including North America, the Middle East, South America, Southeast Asia, Africa, and Eastern Europe, and has discovered over 50 unicorn companies. Through this investment, GeoGrid will be able to further strengthen its global network and market expansion strategy.
In particular, Geogrid is targeting Southeast Asia, the Middle East, and North America as its main markets, and plans to provide solutions optimized for water quality issues and regulations in each region. Recently, Geogrid signed an agreement with PT Dongbang Development in Indonesia, making its first overseas export, and is promoting its introduction in large buildings, hotels, and public infrastructure in Southeast Asia.
In addition, in ASEAN markets including Thailand, we plan to conduct a verification study by developing a customized water purification system that reflects the characteristics of local groundwater and tap water, and accelerate expansion into the local market based on this.
“Geogrid has an innovative solution that combines smart water purification technology and AI-based real-time monitoring,” said Shin Eun-hye, senior auditor at 500 Global. “As the global water industry is rapidly growing due to improvements in aging infrastructure, strengthening environmental regulations, and water resource security issues caused by climate change, Geogrid’s technology will quickly create demand in the global market as it works in conjunction with increased investment from governments and the private sector around the world.”
Kim Ki-hyun, CEO of Geogrid, said, “This investment from 500 Global has opened up an opportunity for Geogrid to play an important role in the global water industry,” and added, “We will further strengthen our technological capabilities and expand our presence in overseas markets to contribute to solving water quality problems around the world.”
Meanwhile, Geogrid plans to expand cooperation with global companies and government agencies based on this investment attraction and establish overseas bases to advance into overseas markets in earnest. Through this, it plans to establish its status as a global water tech company in the long term.
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