Naver and Kakao Invest in 'Flotic', a Developer of Robots for Logistics Warehouses

[Asia Economy Reporter Buaeri] Naver and Kakao have jointly invested in 'Flotic,' a company developing automated robot services for logistics warehouses.

Naver's startup nurturing organization D2SF announced on the 24th that it invested in two startups specializing in logistics robotics and pet artificial intelligence (AI) technology.

'Flotic' is developing a robot solution that automates movement within logistics warehouses. Since 60% of the time from order processing to shipment is spent on logistics movement inside the warehouse, automation can significantly reduce costs and time. Flotic is developing a solution that can be introduced without redesigning or restructuring the logistics warehouse.

Founder and CEO Chan Lee of Flotic majored in mechanical engineering at KAIST and was an intern in robotics at Naver Labs. He also gained experience at Baedal Minjok and other companies. This investment was made jointly by Naver D2SF, Kakao Ventures, and Shinhan Capital.

Another company invested in by Naver, 'Petpeotalk,' is developing a solution that analyzes abnormal behaviors of pets and their causes. It is developing AI technology specialized for pets. CEO Ryunhwan Kwon of Petpeotalk founded the company out of affection for pets while still a student.

Yang Sanghwan, leader of Naver D2SF, said, "Recently, excellent technical talents are more actively entering startups, and campus technology startup teams view industries in new ways and grow very rapidly. The two newly invested teams are also rapidly advancing technology sophistication and productization, and we look forward to the changes they will bring to the market."

Meanwhile, since its launch in 2015, Naver D2SF has invested in 77 technology startups. About 25% of these are campus technology startup teams. Many campus technology startup teams, such as 'V.DO' acquired by Naver Webtoon, music AI solution 'Poza Labs,' and online coding education platform 'Elis,' have established themselves in the market after initial investment from Naver D2SF. Currently, Naver D2SF is recruiting new investment teams and promoting various synergies between Naver and technology startups.