[Asia Economy Reporter Kwak Minjae] Service robot startup LoungeLab announced on the 4th that it has been selected for the ‘Baby Unicorn 200 Nurturing Project’ under the ‘K-Unicorn Project’ hosted by the Ministry of SMEs and Startups.
The ‘Baby Unicorn 200 Nurturing Project’ is a government initiative that discovers promising companies verified for innovative business models and potential, supporting their growth into global unicorn companies. Final selection is made through evaluations involving expert and public judging panels, assessing technological innovation and growth potential.
LoungeLab showcases various unmanned solutions applicable from the food retail market to everyday spaces through artificial intelligence and robotics technology. They develop F&B robot automation services such as barista robots and ice cream robots, and operate food retail brands that provide new food and beverage experiences by applying these technologies.
Since launching full-scale services in March 2020 with the robot collaborative cafe ‘LoungeX,’ LoungeLab has attracted approximately 10 billion KRW in cumulative investment. They directly operate about ten stores using three types of automated food robot systems developed in-house, demonstrating rapid growth. Notably, the number of employees has expanded from five in early 2020 to around 80 this year, actively increasing new hires.
Based on customer feedback accumulated on-site, LoungeLab has continuously developed practical technologies and plans to launch a new type of unmanned cafe, ‘X EXPRESS,’ in August, utilizing AI-applied robot unmanned technology.
Hwang Seongjae, CEO of LoungeLab, said, “LoungeLab, which has received focused attention for its rapid growth in the service robot sector, is expected to develop quickly based on this Baby Unicorn project selection. We want to grow into a unicorn company that advances onto the global stage through automation technology that innovates everyday life.”
Meanwhile, companies selected for the ‘Baby Unicorn 200 Nurturing Project’ can receive support including 300 million KRW in market pioneering funds, 5 billion KRW in special guarantees, 10 billion KRW in policy funds, and preferential treatment in the Ministry of SMEs and Startups’ technology development projects.
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