Daedong Agtech Secures 15 Billion Won Investment... Accelerates AI Agriculture Commercialization
Investment Focused on Core Businesses Such as Precision Agriculture and Smart Farming
Direct Participation in Smart Farm Operations
Daedong Agtech announced on October 28 that it has secured an investment of 15 billion won just three years after its establishment. Korea Development Bank and Smilegate Investment participated in this round. Both institutions reportedly decided to invest after highly evaluating Daedong Group's outstanding AI agriculture competitiveness, which stems from its vertical integration across hardware such as agricultural machinery and robots, as well as artificial intelligence (AI) and autonomous driving software.
Since its founding in 2022, Daedong Agtech has established its position by commercializing connected solutions in the agricultural sector for Daedong Group, including remote vehicle diagnostics, automatic farming log recording, and AI-based early disaster alerts. In particular, to develop an AI tractor scheduled for release next year, the company has collected approximately 500,000 orchard and field images and about 3 million driving videos over the past three years, and has built a machine learning operations automation system (MLOps). Daedong Agtech has also implemented a service for analyzing harvest yields by zone and plot using smart combines, and introduced an agriculture chatbot called 'AI Daedongi' based on a large language model (LLM).
The company plans to focus the newly raised funds on developing AI agricultural technologies in its core businesses, including connected solutions, precision agriculture, and smart farming. In addition, Daedong Agtech will directly participate in smart farm operations to further advance greenhouse growth solutions, aiming to secure more farm management data and strengthen technology verification in the field.
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Daedong Agtech CEO Won Youhyun said, "With this investment, we expect Daedong Agtech to take a significant step forward as a technology company leading innovation in agriculture," adding, "We will continue to do our best to achieve sustainable growth and build a next-generation agricultural platform that is competitive both domestically and internationally."
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