FOBECON secures Pre-Series A funding from Explo Investment and Magellan Technology Investment to drive digital transformation in the South Korean construction industry through its innovative AI solutions.
Target Information
FOBECON, an AI construction startup, has recently secured a Pre-Series A investment from Explo Investment and Magellan Technology Investment, aiming to accelerate the digital transformation of the construction industry. While the exact financial details of the investment remain confidential, the funding will support FOBECON's innovative efforts in construction estimation and cost management.
Founded in January 2024, FOBECON operates out of the Pangyo Startup Zone, established by the Ministry of SMEs and Startups and overseen by the Korea Startup Promotion Agency and the Gyeonggi Creative Economy Innovation Center. Specializing in artificial intelligence technology tailored for the construction sector, FOBECON is focused on revolutionizing the estimation and cost management processes traditionally utilized in construction.
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Industry Overview
The construction industry in South Korea has been witnessing a significant shift towards technological adoption, primarily driven by the need for efficiency, cost reduction, and enhanced competitiven
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