TEMCO said that it attracted an investment from Korea Investment Partners. The investment amount was not revealed.
TEMCO said that this investment is significant because it is Korea Investment Partners’ first investment in blockchain. Jong Hyun Kim, executive director of Korea Investment Partners said “TEMCO has devised the blockchain-based supply chain platform, BI tool, market platform and customer application and they have a solid business model that is closely connected,” adding “We decided to invest in TEMCO since it has the technology to realize the model into reality, and we expect the business model to be successful via business partner collaboration owned by Korea Investment Partners.”
Based on the investment secured this time, TEMCO will establish a blockchain supply chain network that utilizes bitcoin while focusing on developing transparent platform services based on supply chain data and using the investment for branding and service promotion and marketing.
Jaeseop Yun, co-founder of TEMCO said “We are glad that TEMCO, as a blockchain-based supply chain solution dApp developer became the first blockchain investment chosen by Korea Investment Partners,” and “This investment will provide a new belief that blockchain companies can secure investments from traditional venture capital.” He added “We will grow TEMCO not just a supply chain platform start-up but the one that leads the blockchain industry.”