GINT Raises $12.66 Million in Series B Funding for Precision Agriculture Autonomous Driving Startup

GINT, a precision agriculture startup disrupting the agricultural machinery market with its remote and unmanned technology, has raised $12.66 million in Series B funding. Total funding to date is approximately $19.19 million (KRW 2.5 billion).

GINT’s Series B round was led by SGC Partners, Hanwha Investment & Securities, Shinhan Asset Management, HG Initiative, JB Investment, Industrial Bank of Korea, CKD Venture Capital, and Prophet-Vector New Technology Investment. In addition to existing shareholder Nonghyp Bank, NH Nonghyup Agtech Win-Win Innovation Fund, established by the National Agricultural Cooperative Federation and its affiliates, and LB Innovation Growth Fund II, established by LB Investment in the first quarter of this year, have selected GINT as their first investment.

Yong Hyun Kim, CEO of GINT, said, “We are grateful to have received so much attention both internally and externally during a difficult period.” “Based on the investment, we will begin to develop cutting-edge agricultural robot platforms such as PLUVA auto pro, which can upgrade existing agricultural machinery to the third level of autonomous driving, and expand GINT’s advanced agricultural technology beyond the domestic market to emerging agricultural machinery markets such as Indonesia and Cambodia, as well as traditional agricultural machinery markets such as Japan and Thailand,” he said.

Meanwhile, GINT, together with the Korea Agricultural Mechanization Policy Institute (KIMPI), the Research and Business Development Foundation of Pusan National University, was recently selected for the “Technology Development Project to Strengthen Export Agricultural Competitiveness Based on International Cooperation,” a Ministry of Agriculture support project, and signed an MOU with the Indonesian Ministry of Agriculture to promote and distribute PLUVA auto, an autonomous driving solution for agriculture, to accelerate its expansion in Southeast Asia.