About VIRNECT
VIRNECT is a company based in Seoul (South Korea) founded in 2015. VIRNECT has raised $37.57 million across 2 funding rounds from investors including Korean Development Bank, Hanwha and KB Investment. The company has 129 employees as of December 31, 2024. VIRNECT offers products and services including XR Content, AI Chatbot, Remote Support, Digital Twin, and Robotic Solutions. VIRNECT operates in a competitive market with competitors including Atheer, Librestream, Scope AR, Help Lightning and Augmentir, among others.
- Headquarter Seoul, South Korea
- Employees 129 as on 31 Dec, 2024
- Stage Public
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Sectors
Technology
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Email
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Phone
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Website
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- Legal Name Virnect Co., Ltd.
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Annual Revenue
$3.12 M (USD)-29.26as on Dec 31, 2024
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Net Profit
-$8.57 M (USD)-22.05as on Dec 31, 2024
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EBITDA
-$7.99 M (USD)-16.13as on Dec 31, 2024
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Total Equity Funding
$37.57 M (USD)
in 2 rounds
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Latest Funding Round
$30 M (USD), Series B
Jan 13, 2022
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Investors
Korean Development Bank
& 8 more
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Employee Count
129
as on Dec 31, 2024
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IPO & Listings of VIRNECT
VIRNECT is a publicly listed company on the KRX with ticker symbol 438700 in South Korea, operating in the Technology services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of VIRNECT
VIRNECT offers a comprehensive portfolio of products and services, including XR Content, AI Chatbot, Remote Support, Digital Twin, and Robotic Solutions.
Creates extended reality content for training and visualization
Provides intelligent chatbots for customer and operational support
Enables remote assistance for industrial maintenance tasks
Develops digital models for monitoring and optimizing processes
Offers robots for industrial and collaborative applications
People of VIRNECT
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Funding Insights of VIRNECT
VIRNECT has successfully raised a total of $37.57M across 2 strategic funding rounds. The most recent funding activity was a Series B round of $30 million completed in January 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in VIRNECT
VIRNECT has secured backing from 9 investors, including venture fund and institutional investors. Prominent investors backing the company include Korean Development Bank, Hanwha and KB Investment.
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Private equity and innovation services are provided by STIC Investments.
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Startups are funded and accelerated by Lotte Ventures' sector-agnostic program.
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Stage & sector-agnostic VC firm funding companies in South Korea and the US
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Investor details for VIRNECT
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Investments & Acquisitions by VIRNECT
Investment portfolio details for VIRNECT
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Financial Statements - VIRNECT
Detailed financials for VIRNECT
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Virnect Comparisons
Peer comparison for VIRNECT
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Competitors of VIRNECT
VIRNECT operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Atheer, Librestream, Scope AR, Help Lightning and Augmentir, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Augmented reality platform for enterprise applications is provided.
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On-site video collaboration solutions are delivered to service businesses.
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AR-based software for remote assistance support is provided.
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Augmented reality solutions for remote collaboration are provided.
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Provider of a platform offering AR solutions for industrial front-line workers
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Provider of a cloud-based visual collaboration platform
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Detailed competitors of VIRNECT
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Latest news on Virnect
Complete news archive for VIRNECT
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Frequently Asked Questions about VIRNECT
VIRNECT was founded in 2015 and raised its 1st funding round 4 years after it was founded.
VIRNECT is headquartered in Seoul, South Korea.
Tim Ha is the current CEO of VIRNECT.
VIRNECT is a funded company, having raised a total of $37.57M across 2 funding rounds to date.
As of Dec 31, 2024, the latest employee count at VIRNECT is 129.
Annual revenue of VIRNECT is $3.12M as on Dec 31, 2024.
Provider of augmented reality solutions for industries. The company provides augmented reality solutions for industrial and manufacturing sectors. Based on GPS sensors and object recognition technology, the company provides VIRNECT Remote which solves remote real-time AR video communication problems between field worker and remote expert. Provides SmartWork ARVR to visualize information about the state of the equipment, specifications, sensing data and more using AR technology. Features AR manuals, monitoring, training and simulation solutions and helps in designing, logistics, process material management, equipment checking, and other applications. Product portfolio also includes VIRNECT Make which is an AR authoring tool and VIRNECT View which is a tool to view optimized AR contents in the field.
VIRNECT offers XR Content, AI Chatbot, Remote Support, Digital Twin, and Robotic Solutions.
Yes, VIRNECT is publicly traded on KRX under the ticker symbol 438700.
VIRNECT has 9 investors. Key investors include Korean Development Bank, Hanwha, KB Investment, KTB Network, and STIC Investments.
The ticker symbol of VIRNECT is 438700 on KRX.