Resource Circulation Robot Developer 'EightTech' Secures Series A Investment

Vision Creator and Sopung Ventures Follow-up, Blue Corner and GS Ventures New Investment
"Innovating Resource Circulation Business Dangerous for Humans with Robots"

[Asia Economy Reporter Kwangho Lee] EightTech, a startup providing AI robot-based household waste sorting solutions, has completed a Series A investment round worth 3.1 billion KRW. With this, the total accumulated investment has increased to 3.5 billion KRW.

In this round, existing shareholders Vision Creator and Sopung Ventures made follow-on investments. Additionally, new investors such as Blue Corner and GS Ventures participated.

Considering the pre-Series A funding and the selection for the TIPS project fast track in the first half of this year, EightTech has secured at least 4 billion KRW in funding.

Founded in 2020, EightTech plans to expand sales of its smart resource recycling sorting robot, 'Aitron,' following this investment. Aitron is a robot that sorts recyclables at waste processing facilities. EightTech is conducting pre-orders of robots to meet the demand for Aitron adoption from various local governments and recycling sorting centers.

After developing its product for a year and a half since its establishment, EightTech achieved its first commercial sales earlier this year. Following on-site demonstrations, it received purchase intentions from various clients.

Park Taehyung, CEO of EightTech, said, “We have gained consumer trust through additional orders from the first companies to adopt Aitron, and discussions are underway for adoption by local governments beyond private companies. We will innovate the resource recycling industry, which is hazardous for humans, by using robots through continuous technological development and product distribution.”

Jung Jooyong, CEO of Vision Creator, a follow-up investor, said, “Despite the challenging financial environment with rising interest rates, the participation of strategic and financial investors in this investment shows investors’ strong interest in the full-scale expansion of the robot industry. We expect robots to be deployed on a larger scale for effective sorting of household waste, contributing to eco-friendly growth.”

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