Ate1 "Pursuing 10 Billion KRW Funding to Expand AI and XR Business"

[Asia Economy Reporter Hyunseok Yoo] EightOne announced on the 5th that it will raise a total of 10 billion KRW by issuing the 6th series of bearer, unsecured, interest-bearing private convertible bonds worth 5 billion KRW each to Spinel New Technology Association No. 34 and Starters New Technology Association No. 35. The payment date is set for the 16th.

An EightOne official stated, “Approximately 6 billion KRW will be used to acquire promising securities of other companies with strong technological capabilities, aiming for new AI (Artificial Intelligence) and XR (Extended Reality) businesses and expansion. Additionally, 4 billion KRW will be allocated as operating funds for diversifying new businesses related to the metaverse.” He added, “We are discussing various investment plans centered on technology-based small and strong enterprises targeting business sectors that can demonstrate optimized synergy with the XR platform business that EightOne is developing.”

The company plans to lead industry trends by showcasing visible achievements through metaverse market integration across diverse industries. This follows their accumulation of XR technology based on experience in producing VR (Virtual Reality) and AR (Augmented Reality) solutions, their recent full-scale entry into developing converged solutions incorporating AI, and ongoing development of VR content.

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