AI and big data specialist company B2N is partnering with ARC Group to secure global investment.
B2N announced on the 29th that it plans to raise large-scale investment through ARC Group simultaneously with the establishment of the domestic corporation of the pet community platform 'XOOX Korea'.
They plan to begin full-scale investment attraction after discussing detailed investment agendas during the visit of key ARC Group officials to Korea on the 30th.
Founded in 2015, ARC Group is an asset management company operating 14 offices including in New York, Mexico, Dubai, Shanghai, India, and Singapore. Notably, it manages various investment instruments in emerging markets and has completed investment transactions worth approximately $8.4 billion across about 50 countries.
B2N is targeting the global 'pet economy' market by collaborating with US-based XOOX LAB Inc., the developer of the pet-exclusive app 'XOOX', integrating information and communication technology (ICT) and biotechnology to focus on consumer value-centered markets.
Specifically, B2N plans to establish 'XOOX Korea' and, together with XOOX LAB Inc. and Medicloud, promote pet DNA testing services based on pet DNA analysis, including customized medical genetic database services, as well as pet-exclusive insurance services.
A B2N representative stated, "The global pet market, valued at 498 trillion won, is expected to grow rapidly starting this year," adding, "We believe ARC Group's investment discussions regarding B2N and 'XOOX Korea' will attract attention in the pet economy market."
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