- Final selection for the government R&D program "Scale-Up TIPS," following the successful Series B investment round in October 2023
- The value and technological excellence of Willog's logistics data monitoring solution recognized; additional momentum secured for market expansion
- Plans to strengthen competitiveness in support of smart logistics infrastructure development as part of the government's New Growth 4.0 strategy
Willog (co-CEOs Bae Sung-hoon and Yoon Ji-hyun), a logistics data monitoring solution company, announced on the 19th that it has been finally selected for the Ministry of SMEs and Startups' "Scale-Up TIPS" program, receiving approximately KRW 1.2 billion in research project funding.
Scale-Up TIPS is a privately led R&D mechanism designed to respond to rapidly changing technology and market demands. Under this program, private operators select promising companies, invest KRW 1 billion or more, and secure R&D grants through government evaluation.
Willog qualified for participation upon receiving investment and recommendation from Scale-Up TIPS operator Wonik Investment Partners, and was ultimately selected after receiving high marks for the originality and differentiation of its technology. Through this selection, Willog plans to pursue expansion into adjacent business areas and global markets, while further strengthening its competitiveness in supporting the development of smart logistics infrastructure as part of the government's New Growth 4.0 strategy.
The logistics industry, which has long been characterized by analog operations, is increasingly compelled to undergo digital transformation. At a time when companies need to respond in diverse ways, including the adoption of solutions, to align with the government's smart logistics projects, Willog's technology is drawing attention as a core solution. Whereas logistics in the past has been operated with the goal of cost minimization within supply chain management, the logistics of the future requires tools that provide a comprehensive view and analysis of the entire supply chain and support strategic decision-making.
Willog Co-CEO Bae Sung-hoon stated: "Willog is currently providing logistics data monitoring solutions that allow businesses across various industries to monitor the condition of cargo in transit. This selection for Scale-Up TIPS is a recognition of our technological competitiveness and capabilities. Going forward, we will grow into a platform that comprehensively manages and digitizes land, maritime, and air logistics."
Meanwhile, in October 2023, Willog successfully completed a Series B funding round just two years after its founding, receiving recognition for its strong technological competitiveness and growth potential.