Naver D2SF Invests in AI Startup NXN Labs

Seoul, South Korea - Naver D2 Startup Factory (D2SF) has invested in NXN Labs, an artificial intelligence startup focused on image generation for e-commerce applications, just two months after the company was founded. 

KB Investment and Smilegate Investment were also participating in the round.

NXN Labs develops AI models to create high-quality images for virtual fitting and virtual model creation, initially targeting the fashion industry. 

The startup aims to streamline the time and cost of producing lookbooks and advertising images for fashion brands.

NXN Labs is conducting proof-of-concept trials with fashion brands and domestic e-commerce platforms. 

The company plans to establish partnerships this year to build references in the e-commerce and advertising industries and aims to launch commercial solutions in North America by 2025.

Founded in December 2023, NXN Labs is led by CEO Jaewon Lee, a Stanford computer engineering graduate with experience at McKinsey and SoftBank Ventures, and CTO Lina Hong, a Stanford cognitive engineering graduate who previously worked on AI research and product development at Microsoft.

Naver D2SF actively invests in early-stage startups, with 80% of its investments at the seed stage and 62% of its portfolio companies receiving their first institutional investment from the firm.