Wanted Lab, the operator of an AI-based recruitment platform “Wanted”, has been listed on the KOSDAQ market on August 11.

 

The company plans to use the raised funds for mergers and acquisitions to expand business opportunities, develop new/overseas businesses, and secure R&D talent.

 

The company has confirmed the IPO price at KRW 35,000 ($30) based on the results of the demand forecast conducted through 1597 institutional investors who have participated in this demand forecast, recording a competition of 1504 to 1. 

 

Additionally, about 99% of participating institutions wrote down their offering price above the upper end of the desired range, and the total amount of the public offering was confirmed to be at KRW 256B ($220M).

 


 

Wanted Lab attributed this high valuation to its unique data, AI recruitment matching technology, and future growth potential of the company.

 

Established in 2015, the company quickly entered the job market by introducing the recruitment platform “Wanted” as a business model for 'recruitment through acquaintances'. Currently, they are providing an AI-based recruitment service for more than 2.2 million real-time matching result data in 5 Asian countries, including Korea. 

 

Last year, the sales exceeded the KRW 10B ($8M) mark for the first time since its establishment, and the earnings are continuing to rise this year with sales in the first quarter having increased 93% to KRW 5.7B ($5M) from the same period of the previous year.

 

Wanted Lab CEO Bokkee Lee said, "I would like to thank all institutional investors who showed interest in Wanted Lab and participated in the demand forecasting. We will continue to provide diversified HR solutions to companies and become recognized on the global market."


 



Alchera, an AI image recognition startup and a member company of Born2Global Centre, has revealed its strategy and vision just before being listed on the KOSDAQ market as of December 21.

 

Alchera provides a complete solution that covers collecting and editing of large-capacity image data, deep learning, AI engine optimization, and creation of dedicated solutions. The solution has secured an unrivaled position among major domestic customers as it excels in facial recognition, augmented reality (AR), anomaly detection, and data business.

 

Alchera's core competitiveness lies in its source technology for artificial intelligence facial recognition and anomaly detection. Alchera's AI can recognize not only human expressions but also subtle abnormal signs of objects with an accuracy of 99% or more. Instant recognition is also available.

 

The company has achieved grade A standards in both a technical evaluation by eCredible Co., Ltd., a specialized rating service provider, and an evaluation by Korea Enterprise Data Co., Ltd. Alchera's technological excellence has been shown when their technology was successfully applied to Shinhan Face Pay, known as Korea's first facial recognition payment system

 

Image recognition technology is being used in various industrial fields. Since this was first applied to the Snow Camera in 2016, it has been applied to Incheon International Airport's Automated Immigration System, the Passport Information Comprehensive Administration System of the Ministry of Foreign Affairs, the passport counterfeit detection system of the Korean financial industry, and the fire monitoring system of KEPCO. The company achieved a high level of market recognition as a result of its successfully established references.

 

Alchera recently launched a facial recognition-based entry control system with its own algorithm called Alchera ACS that has aggressively entered domestic and international markets. Following the KC and CE certifications, the system is waiting for certification from the Ministry of Food and Drug Safety.



 

Young-kyoo Hwang, CTO of Alchera, said, "In the non-face-to-face era and a trend of non-contact service, AI image recognition technology is attracting attention as an optimization solution in various areas including payment and public services, financial industry, medical services, entry control, and security services. The company expects a steep increase in sales in the future due to Alchera's source technology being a strong barrier to entry for overseas competitors who have yet to produce a similar product." He added, "The listing on the KOSDAQ is expected to be a turning point for Alchera to leap higher". He also mentioned, "We will do our best to transform into a global AI image recognition company that leads trends in various industries thanks to our overwhelmingly innovative technology."

 

 

Image deciphering technology and a medical engineering Ph.D. join forces 

 

 When JLK was first founded by CEO Kim Won-tae in 2014, the company specialized in display testing equipment that combined simple AI technologies and image deciphering technologies.

In order to expand the company’s business areas, an AI team was created in 2015, and the company began working in earnest to develop medical AI solutions. 

 

Around this same time, several key people joined JLK, including co-CEO and CTO Kim Dong-min, who has a Ph.D. in engineering from the University of Tokyo. Co-CEO Kim, who is responsible for MRI-related research, has extensive experience working with MRI-based brain data.




Applying deep learning to medical video deciphering

 

JLK has been commercializing its assets and producing business outcomes faster than any other medical AI firm in Korea. These business outcomes are being achieved by increasingly applying video processing, deep learning, and machine-learned technologies to the existing fields of medical video analysis and industrial X-ray security solutions. JLK’s portable medical devices are applied with technologies that make them as small and lightweight as possible, meaning that the results of AI-based medical video analysis can be viewed anytime, anywhere. The company is currently making headway in various international markets, including those in India, Laos, Myanmar, Kuwait, and China.

 

The world’s largest number of AI medical analysis solutions 

 

JLK was the first company in Korea to develop a total analysis solution for strokes (JBS-01K). Today, the company holds the world’ s largest number of AI medical analysis solutions, boasting 37 solutions that can be used to analyze 14 different body parts. The company’s all-in-one platform, AIHuB, is associated with 85 patents and is a modularized version of traditional diagnostic algorithms.

A JLK spokesperson said, “The AI source technologies and algorithms realized through AIHuB are what set our technologies a cut above the rest.” 

 

Proven global competitiveness as the winning bid for the CHAI tuberculosis screening project in Laos

 

 JLK first gained recognition in the global medical AI market through its participation in an open bid conducted by the Clinton Health Access Initiative (CHAI) in late 2019 for a tuberculosis screening project in Laos. JLK won first place out of all the project bidders and was selected for the CHAI project (CHAI is a program associated with the Clinton Foundation, a non-governmental health organization founded by former US President Bill Clinton to help citizens of developing countries).


 JLK is also currently collaborating with Intel on a medical AI device that blends worksites using cutting-edge and remote technologies. A JLK spokesperson commented that the company has high expectations for the collaboration: “We hope to create a synergetic effect between Intel’s vision for computers, its AI solution development tool, OpenVINO, and JLK’s medical AI algorithm.”

 

Born2Global Centre, a stepping stone for expanding into international markets 


 As an active participant of the Born2Global Centre program since 2017, JLK has benefitted from the Center’s services and largely attributes its successful expansion overseas to the center’s specialized consultation services. CEO Kim Won-tae explained, “Through the Born2Global Centre we were able to create a US subsidiary, which is essential for branching out into more countries.”JLK also received legal consultations from Born2Global Centre on issues related to establishing an overseas subsidiary as well as patents.




From a medical AI company to a comprehensive AI company 

 

JLK is currently working on obtaining certifications in Korea and other countries for its AI-based medical solutions. In the future, the company will continue to strengthen its technological prowess and business value as a means of dominating medical AI markets at home and overseas. Its goal is to become a world-class company, based on its unrivaled products, and to lead the digital transformation of the healthcare industry by building global cooperative networks.





By Hyunjin Choi

 

JLK Inspection, an AI-enhanced medical solution provider, announced that it will seek Initial Public Offering(IPO) to go public on KOSDAQ, submitting the registration statement to the Financial Services Commission after passing the preliminary screening review by Korean Exchange(KRX) on the 30th last month.

 

The market is eyeing on JLK Inspection in the process of IPO under the technology exception policy since it will be the first AI-based medical company on the KOSDAQ market. The company plans to secure approximately a maximum of KRW 29 bn (USD 25 mm) by offering 2 million stocks with the IPO price band between 11,000 won and 14,500 won per share.

 

The IPO price is to set up during the book-building session on Nov. 26-27. Public subscriptions will be held on Dec. 2-3, and JLK Inspection expects that the listing is finalized within this year. The lead manager is Korea Investment & Securities Co.

 

 

Founded in 2014, JLK Inspection(a Born2Global member from 2017~2019) is a medical solutions provider specializing AI-enhanced technology.

 

The company released AIHuB, an all-in-one medical platform to detect 37 medical conditions in 14 different body parts: strokes, Alzheimer’s, prostate cancer, lung cancer, thyroids cancer, breast cancer, and joint disease. To support a doctor’s diagnosis, AIHuB analyzes nationwide scales of MR images up to 1.5M slides from 14K people based on deep learning technology. After the analysis, it provides a real-time diagnosis support on site for practitioners.

 

While competitors use only CT to detect diseases, AIHuB heightens the accuracy, using CT, MRI, MRA, and mammography data all together.These solutions are approved by the Ministry of Food and Drug Safety in South Korea as an AI-based class Ⅲ computer aided diagnosis system. It has obtained CE mark for AI-based medical solutions in accordance with the European Medical Device Directive(MDD).

 


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