Brickmate Receives Initial Investment of 1 Billion KRW from Naver Cloud

Kumho Electric announced on the 30th that its affiliated IT venture company Brickmate has completed the capital payment from Naver Cloud. Naver Cloud signed a first-round investment contract worth 1 billion KRW on the 23rd with Brickmate, which has a corporate valuation of 39 billion KRW.

A Brickmate representative said, "We understand that Naver Cloud is considering a second-round investment following the first round," adding, "This is a positive signal evaluating our company's value."

Since the first half of this year, the company has established a comprehensive business partnership with Naver Cloud and operates the 2EZ (Too Easy) MSP service to support easy adoption of NCP Cloud. The two companies are also exploring cooperation plans related to AI services.

A company official stated, "In addition, multiple domestic and international institutional investors and overseas investors interested in participating in a 10 billion KRW Series A round are also reviewing investment in our company."

Last month, the company gained attention as the signing ceremony with a Vietnamese IT company was broadcast nationwide through the local state broadcaster VTC. The company explained that it is receiving investment intentions from major investors in the ASEAN region, including Singapore and Vietnam, drawing industry attention.

Kim Min-wook, co-CEO of Brickmate, said, "This investment will be an opportunity to build a stronger partnership with Naver Cloud," adding, "We will do our best to ensure that excellent technologies, services, and solutions based on 'K-Cloud' are recognized globally."

He expressed his ambition, saying, "Our second growth phase, boosting up through cloud, AI, gaming, and venture studios, is just beginning, along with turning a profit in the first half of the year."