Pukyong National University Faculty Startup ‘Team Ributte’ Secures 500 Million KRW Investment from Korea Technology Finance Corporation

Notable Achievements Within One Year of Startup Including Venture Business Certification

National Pukyong University (President Jang Young-su) announced on the 1st that the faculty startup company ‘Team Reboot’ has attracted an investment of 500 million KRW from the Korea Technology Finance Corporation.

Team Reboot is a company developing ‘askyour.trade,’ an artificial intelligence (AI)-based trade automation platform, and successfully secured investment from the Korea Technology Finance Corporation through a Simple Agreement for Future Equity (SAFE) contract.

Image of the trade automation platform (askyour.trade).

SAFE investment is a method used for early-stage startups that have technological capabilities and business potential but lack clear achievements and performance. By boldly reducing the company valuation at the time of investment and setting only a valuation cap and discount rate, it enables rapid investment execution for early startups and prevents excessive dilution of equity for founding teams during initial fundraising.

Team Reboot has been rapidly growing by securing research and development (R&D) grants from related institutions in Busan such as the Busan IT Industry Promotion Agency, Busan Creative Economy Innovation Center, and Busan Technopark since its first year of establishment this year. With this investment from the Korea Technology Finance Corporation, it is expected to gain momentum by proving its business viability.

In addition to this investment, Team Reboot plans to focus more on gaining internal and external recognition for its technological capabilities and innovation based on various R&D supports.

Professor Choi Sung-chul, CEO of Team Reboot, said, “We will do our best to contribute to the development of the local industry in response to the great interest from the region,” adding, “The trade automation platform under development will bring innovative changes to the trade and office ecosystem, and the AI-based service is expected to provide new vitality to the Busan regional startup and deep tech ecosystem.”