Factory Automation Equipment Solutions Startup ‘JLT’ Raises $2.25M in Seed Funding

Hyun Woo Jung, CEO of JLT

Factory automation equipment solutions startup JLT(제이엘티) has raised $2.25 million (KRW 3 billion) in seed funding. The investment was led by Korea Technology Finance Corporation, KB Securities and others.

JLT is an automated equipment solutions startup with core technology that optimizes welding quality by performing real-time weld inspection, tracking and data recording of weld lines, unlike conventional methods.

In particular, JLT’s ability to simplify processes and reduce costs to improve productivity has been highly valued by customers, and the company currently supplies manufacturing equipment for key parts of electric vehicles and ships to LG Magna, SEMES, Hyundai Robotics and other large and medium-sized companies.

With this investment, JLT plans to develop its welding automation and integrated inspection systems and grow from the $7.5 million (KRW 1 billion) in revenue it achieved in its fifth year of operation to become the number one company in its field.

JLT is currently focusing on technology advancement through a project with the Korea Institute of Industrial Technology (KITECH) to develop integrated welding solutions and has recently expanded its technology development into marine welding solutions through a PoC with HD Hyundai Heavy Industries, consolidating its position as a leader in welding inspection equipment for the marine and automotive sectors.

Hyun Woo Jung, CEO of JLT, said: “Until now, welding automation solutions have been highly dependent on foreign equipment. With this investment, we will localize our solutions and develop our own equipment that can unify inspection, helping us to consolidate our position as a powerhouse in the marine and automotive industries.