HiteJinro Signs Investment Agreement with Software Development Company 'SpaceRiver'

[Asia Economy Reporter Seungjin Lee] HiteJinro announced on the 30th that it has selected the enterprise software development company 'SpaceRiver' as its seventh startup investment destination and signed an equity investment contract.

HiteJinro decided to invest after highly evaluating SpaceRiver's technology, which developed the cloud-based 'NorthNorth' warehouse management system (WMS). In particular, it focused on the logistics industry's expansion into various fields alongside the growth of the e-commerce market and viewed the differentiated system operation method of 'NorthNorth,' which maximizes user convenience, as a competitive advantage.

'NorthNorth' is a software-as-a-service (SaaS) system optimized for e-commerce and third-party logistics companies. With just a few clicks, users can manage inbound, inventory, ordering, outbound, and invoice printing. It has low initial costs and offers tiered pricing based on logistics volume, allowing use at a reasonable price, which quickly secured major customers among well-known companies.

Huh Jae-kyun, Executive Director of New Business Development Team at HiteJinro, stated, “We are discovering startups with competitiveness in various fields amid changing market environments” and “We will provide continuous support for the growth of SpaceRiver.”

Meanwhile, since being selected as the first corporate angel investor among domestic for-profit companies in 2019, HiteJinro has been striving to contribute to the development of the startup ecosystem by not only discovering startups but also strengthening partnerships with related organizations.

This content was produced with the assistance of AI translation services.