[Asia Economy Reporter Buaeri] AI (Artificial Intelligence)-based fashion tech company OddConcept announced on the 30th that it has secured 6 billion KRW in Series B funding.
OddConcept provides its fashion styling service Pixel, commercialized based on its self-developed machine learning-based image recognition, analysis, and search technology, to online commerce partners in the fashion sector. Pixel is a service that analyzes consumers' items of interest using AI and recommends products tailored to individual preferences.
This round of investment involved five investors, including existing investor KB Securities, HB Investment, Shinhan Capital-Kiwoom Investment, Korea Development Bank, and SBI Investment.
OddConcept has secured approximately 10 billion KRW in cumulative investments to date.
Jung Seong-hoon, Deputy General Manager at KB Securities who participated in the investment, explained the background by saying, "We expect OddConcept's unique machine learning technology to be expansively applied in other industries in the future."
Kim Jeong-tae, CEO of OddConcept, stated, "The necessity and excellence of our service have been verified in the market. Now it is time to expand our business volume in the Asia-Pacific market."
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