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Investments

11

Funds

1

About ISU Venture Capital

ISU Venture Capital, part of ISU Group, is focused on supporting promising SME ventures with growth potential.

ISU Venture Capital Headquarter Location

8F, Unipharm Tower (Yeokam-dong) 24, 85-gil, Eonju-ro

Seoul, 06221,

South Korea

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Latest ISU Venture Capital News

Can AI make decisions that rely heavily on human experience?

Aug 13, 2021

ioCrops, which develops IoT sensors and AI-powered data analytics tools for smart farming, has raised 1.6M in pre-Series A funding led by ISU Venture Capital Co., Ltd., Enlight Ventures, and Seoul Techno Holdings, putting the total to date at $1.9M. Smart farming is a concept in the agricultural industry that uses advanced technology – such as big data and IoT – to track, monitor, analyze, and even automate operations. This allows for more efficient and economical farming by reducing fertilizer and water consumption while also being eco-friendly by reducing soil contamination. Through smart farming, the Netherlands has become one of the world’s biggest vegetable exporters despite being a small, densely populated country. It should then not come as a surprise that South Korea has begun investing heavily into smart farming to overcome aging in its agricultural sector. High-tech greenhouses outfitted with automation systems control various environmental factors without human input. However, growers must make decisions such as determining when to harvest and what values to set for the parameters. This is still in the realm of human intuition and know-how. Replacing human experience ioCrops began by trying to answer the question, “can AI make these decisions that rely heavily on human experience?” In 2020, ioCrops competed in the Autonomous Greenhouse International Challenge (AGIC). After a qualifying round consisting of 21 teams worldwide, five AI teams were chosen to go against a team of growing experts to grow cherry tomatoes remotely over a 6-month span. Teams were judged based on yield, quality, expense, and profit. Cultivation using AI achieved a net profit of up to twice that of human cultivation. ioCrops finished third in this challenge. This year in 2021 AGIC, ioCrops’ team ranked 5th in the first round of the competition, which was an online challenge where 46 teams from 24 countries participated. Just as self-driving cars need data from the road, smart farms require data from the greenhouse. io Crops has developed a new IoT sensor in-house as well as ioLink, a data-gathering program that is compatible with other manufacturer’s IoT sensors. Data gathered through ioLink is processed in ioFarm, a data analytics platform, that uses ioCrops’ AI to turn them into meaningful numbers that help growers make cultivation decisions while also providing real-time environmental monitoring. ioCrops is currently working on software that diagnoses the condition of the greenhouse and offers solutions based on its findings. ioCrops’ ultimate goal is to take it one step further and use gathered data to forecast future environmental conditions and act preemptively. ioCrops’ CEO Jin-hyung Cho says the company plans to use the funding to acquire more human resources and further advance its technology. “Smart farms are equipped with automation systems but their operation is still under the control of human growers,” he states. “ioCrops will innovate the agricultural industry by bringing true autonomous greenhouse through the use of artificial intelligence.” For more information: Thank you Something went wrong with your message. Maybe it was seen as spam, please browse some more articles on our site before trying again. Email this article to a friend We require you to complete all the text fields marked with *. Your Name

ISU Venture Capital Investments

11 Investments

ISU Venture Capital has made 11 investments. Their latest investment was in Culture Hero as part of their Series B on December 12, 2021.

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ISU Venture Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/3/2021

Series B

Culture Hero

$11.49M

Yes

2

9/14/2021

Series C

Makestar

$11.96M

Yes

2

8/11/2021

Series D

Neuromeka

$12.13M

Yes

2

6/22/2021

Seed VC - II

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$99M

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10

3/16/2021

Series C - II

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$99M

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10

Date

12/3/2021

9/14/2021

8/11/2021

6/22/2021

3/16/2021

Round

Series B

Series C

Series D

Seed VC - II

Series C - II

Company

Culture Hero

Makestar

Neuromeka

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Amount

$11.49M

$11.96M

$12.13M

$99M

$99M

New?

Yes

Yes

Yes

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Subscribe to see more

Co-Investors

Sources

2

2

2

10

10

ISU Venture Capital Fund History

1 Fund History

ISU Venture Capital has 1 fund, including ISU-AJ Sports Investment Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

ISU-AJ Sports Investment Fund

Multi-Stage Venture Capital

Open

1

Closing Date

Fund

ISU-AJ Sports Investment Fund

Fund Type

Multi-Stage Venture Capital

Status

Open

Amount

Sources

1

ISU Venture Capital Team

1 Team Member

ISU Venture Capital has 1 team member, including current President, Yoon Chae.

Name

Work History

Title

Status

Yoon Chae

President

Current

Name

Yoon Chae

Work History

Title

President

Status

Current

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