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Lotte Ventures, the corporate-led venture capital of the Lotte Group, announced on May 25 that it has signed an initial stage (seed) investment contract with AimBe lab Inc. which develops a livestock feed measurement and trading platform.
AimBe lab Inc. is helping livestock farmers and feed companies to improve productivity and save costs by overcoming the limitations of the offline market implied by the livestock industry and online.
Currently, the method of measuring the remaining amount of feed bins in livestock farms is a traditional load cell or laser measurement method ranging from 1.5 million won to 7 million won per unit. It is foretold. AimBe lab Inc. has already collected more than 300,000 data to derive AI analysis data, and the response was found to be very favorable as a result of a cooperative farm test, the AimBe lab Inc. said.
In addition, by building a feed trading platform by monitoring the amount of feed inside the feed bin in real time, it is solving the information asymmetry of primary industry workers and overcoming the limitations of face-to-face sales and transactions. By providing AI data to feed companies, delivery plans can be optimized to reduce labor and transportation costs and even achieve the effect of carbon emissions.
According to AimBe lab's CEO Byung-Soo Go, he showed confidence in providing a stable solution, saying, “I will lead the change in the global feed market worth 675 trillion won among the livestock sector that will emerge as the center of the primary industry.
CEO Jeon Young-min of Lotte Ventures, who decided to make this investment, explained the reason for the investment, "It is expected to be a company that will lead the digital transformation of the livestock industry and bring about a positive structural change in the market."