Precision location information technology startup IntoSpace announced on the 11th that it has secured pre-Series A investment from Bluepoint Partners. The size of the investment and the company's valuation were not disclosed.
IntoSpace is developing a "Seamless Navigation System" that provides precise location information without interruption, from the ground to underground and even outer space. Based on Global Navigation Satellite System (GNSS) simulator technology, this system possesses the ability to directly design, generate, and control actual satellite signals. This allows it to verify precision positioning technology in a variety of environments and provide stable location information, even without actual satellites.
With the evolution of transportation, including autonomous vehicles and urban air mobility (UAM), the importance of precise location information is increasing. IntoSpace has developed a variety of technologies, including real-time GNSS correction, tunnel and underground shadow zone correction, and newspace simulators, establishing a related ecosystem and establishing a sustainable revenue model.
Recently, Intospace developed the 'Tunnel GPS Positioning System (TNS)' that can utilize GPS signals in tunnels and underground roads, and successfully passed the performance evaluation by the Korea Transportation Safety Authority.
Bluepoint Partners highly praised IntoSpace's technological prowess and the expertise of its founding team. IntoSpace is the second research institute under the Korea Aerospace Research Institute (KARI), and its co-founders are experts with decades of research experience in their fields. In particular, the company's technological prowess, which goes beyond simple GNSS signal reception to directly generate and reproduce high-precision signals, drew attention.
Ahn Hui-jae, a senior evaluator at Bluepoint, said, “The fact that the personnel who led the design of the technology at a government agency participated in the startup created conditions suitable for the transfer and commercialization of government infrastructure technology to the private sector.”
Nam Ki-wook, co-CEO of IntoSpace, said, “We have built a unique structure that goes beyond simply possessing precision location information technology and integrates various technologies into a single platform,” and “We plan to achieve structural innovation in the precision location information market and grow into a global platform.”
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