Giantstep, a creative technology company combining visual effects (VFX) and artificial intelligence, announced on the 1st that it had secured a 7 billion won investment from Naver. Existing investor Smilegate Investment also participated, supporting Giantstep’s future business plans.
With the investment, Giantstep plans to expand its production capabilities and step up R&D, including hiring talent and investing in equipment, to widen its technology lead in the real-time content market and accelerate commercialization of its industry-leading technologies. In July, Giantstep became the first company in Korea’s VFX industry to register all of its patents for in-house-developed AI-based facial animation. It has also demonstrated its technological prowess by passing a technology assessment for a special listing on the KOSDAQ for technology-growth companies.
A Giantstep representative said, “This investment is not simply an equity stake; it creates a strategic win-win structure in which the two companies collaborate on future-oriented businesses. We plan to work together across multiple business areas by leveraging Naver’s diverse businesses and platforms, as well as Giantstep’s specialized real-time content solutions.”
Founded in 2008, Giantstep is a VFX technology company that grew primarily in the TV advertising market. It has since expanded into new-media content and industry-leading content using real-time engines, offering end-to-end solutions across media, from video planning to production.
Giantstep co-CEOs Ha Seung-bong and Lee Ji-cheol said, “Giantstep’s immersive real-time content solutions are a key technology that can accelerate the digital transformation of the content industry. We will earn global recognition for our distinctive solutions, which can be deployed across all media, by keeping pace with market demand for convergence technologies—a key topic in the Fourth Industrial Revolution—as well as the dismantling of boundaries within the content industry and the diversification of video playback devices.”
Meanwhile, Giantstep has selected Korea Investment & Securities as its partner to expedite its KOSDAQ listing and is proceeding with the listing process.
Giantstep: http://www.giantstep.co.kr/
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