Precision agriculture startup GINT raises Series A funding

Precision agriculture startup GINT announced on the 18th that it had raised a Series A round from Kolon Investment, NH Now Agricultural Food No. 1 PEF, and Songhyun Investment.

NH Now Agricultural Food No. 1 PEF is a private equity fund established by NH NongHyup Bank and Now IB Capital to invest in globally competitive small and midsize companies in the agricultural sector. While it is unusual for a private equity fund to invest in a precision agriculture startup, the fund deemed the investment well-suited because precision agriculture, driven by advances in agricultural technology through ICT integration, is emerging as a new global growth industry.

Songhyun Investment said GINT’s system stands out by giving farmers access to advanced agricultural technology through business innovation. It said it joined the round after recognizing GINT’s strong growth prospects in light of the global trend toward agricultural mechanization.

GINT’s tractor intelligence system combines key precision agriculture technologies based on tractors and farm machinery, including connectivity, blockchain, AI, autonomous driving, remote control, fault diagnosis and prediction, productivity improvements, and theft and accident detection.

The system is highly competitive compared with technologies from leading international companies such as John Deere, CNH, and AGCO. In particular, it can bring advanced technology to farmers without expensive equipment, helping farms maximize productivity while enabling manufacturers to reduce investment risks as market demand changes.

GINT CEO Kim Yong-hyun said, “We plan to use this investment to fund new R&D and strengthen our business strategy, and we will actively recruit talent to help us achieve our growth goals.”

GINT: http://www.gintlab.com/