Cold chain logistics solution startup Shinsungo announced on the 25th that it had attracted seed investment from MYSC, an impact investment firm and accelerator . The investment amount and corporate value were not disclosed.
This investment was made through the 'Our Mountains and Rivers Green Green Impact Fund 2' invested by Yuhan-Kimberly, and Shinsunggo started as an in-house venture of LG Electronics and received pre-seed investment from Bluepoint Partners and LG Electronics.
Based on cold chain technology that stably maintains refrigerated and frozen conditions, Shinsunggo has developed high-performance cooling solutions using dry ice, such as 'Ice Guard', and vacuum-insulated IoT-based transport devices, such as 'T. Box' and 'T. Trunk'.
The company plans to use this investment to advance R&D and commercialize in earnest, and to speed up the construction of an eco-friendly logistics system based on ESG. Shinsunggo has laid the foundation for initial commercialization through the 'Youth Green Startup Camp' support project hosted by the Korea Environmental Industry & Technology Institute.
Investment company MYSC said, “We highly evaluated the technological potential to complement the limitations of the existing cold chain distribution network,” and “Shinseonggo’s solution can be applied to various fields such as pharmaceutical and agricultural/livestock product logistics in Southeast Asia as well as in Korea.”
Shinsunggo CEO Lee Seong-hun said, “We have been recognized for our technological prowess and sustainability in solving carbon emissions and waste problems that arise during the cold chain logistics process,” and added, “We will actively pursue advancement into the global market along with technological advancement.”
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