IBK Industrial Bank of Korea Invests 1 Billion Won in Pre-A Round of 'Local Price' Led by AI Shopping Technology

Funding Rounds

▤ Summary

IBK Industrial Bank of Korea invested 1 billion won in a Pre-A round for Local Price, the e-commerce price-comparison and recommendation platform operated by Ilsamherz. Local Price uses meta-search, big data and AI-driven features (including machine-learning image search) to surface lowest global prices and support cross-border payment, shipping forward, and language services. The company signed an AI MOU with Alibaba Cloud in September 2023 to advance its machine-learning image search and plans to raise a total of 5 billion won by Q1 next year to accelerate global expansion. The funding will support product and market scaling to build a platform that delivers accurate e-commerce information to customers worldwide.

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Amount $769.2K Total raised
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Date October 27, 2023 Announcement date
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Investors - Lead investors
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Company - Funded company

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