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(Dabeeo) |
Spatial information firm Dabeeo has been selected for investment by Defense Innovation Technology Investment Consortium No. 1, South Korean fund for fostering future defense technology.
The fund is formed by the Military Mutual Aid Association, IBK Capital, and LIG Nex1, a leading South Korean defense firm. With the investment from the fund, the total amount Dabeeo secured rose to $6 million in its recent Series B bridge round.
With its selection as a Defense Innovation Company by the South Korean Defense Acquisition Program Administration in 2023, Dabeeo attributed its success in securing the funding to recognition of its technology, a company official told the Korea Herald, adding that the technology would take a crucial role in the industry.
Dabeeo’s artificial intelligence-based technology produces high-resolution images of objects with data collected from height with devices such as satellites, aviation and drones, and detects changes over time. It also possesses technology that analyzes the produced images and compiles data based on them.
Geospatial information analyzed with Dabeeo’s technology is expected to play an important role in detecting situations and facilitating swift responses in the battlefield, according to the company.
Dabeeo’s AI-powered technology has already been used in projects by South Korean public institutes that seek strategic management of land and buildings. The company also participated in 1:1,000 Topographic Map Enhancement, Korean government’s pilot project to enhance mapping here.
The success in the fund bid came out as it seeks to expand its business into the defense industry.
"Dabeeo will strive to become a leading company in the defense industry in the future and pledged to take the lead in technological innovation for the leap of the defense industry and contribute to the globalization of K-defense,” CEO of Dabeeo Ju Hum Park told the Korea Herald.
