SimsysGlobal Raises KRW 3B in Series A for Digital Twin Tech

Seoul, South Korea - SimsysGlobal, a South Korean digital twin technology startup, has secured KRW 3 billion ($2.2 million) in a Series A funding round led by Hana Securities and I Trust Asset Management.

Furthermore, the company received an additional KRW 1.1 billion in intellectual property (IP) value guarantee from the Korea Technology Finance Corporation, bringing its total funding to KRW 4.1 billion.

Established in 2019, SimsysGlobal specializes in "SmartSpace" services, which enable users to create 3D virtual worlds. 

The company has implemented its digital twin-based control systems in several projects, including Incheon International Airport and several domestic ports.

The recently acquired capital will enhance the company's core technologies and expand its business operations. 

In accordance with CEO Yunjay Kim's strategic plan, the company's primary objectives are to prioritize domestic market expansion and pursue international growth opportunities.

Since its establishment, SimsysGlobal has demonstrated a remarkable growth trajectory, with a compound annual growth rate exceeding 150%.

The company has collaborated with major corporations, including KT, SK, and Samsung C&T, to provide digital twin solutions across various sectors.

(US$1=KRW1386.14)