mAy-I Raises KRW 6 Billion in Series A

mAy-I Raises KRW 6 Billion in Series A

mAy-I, a South Korea-based visual AI startup, has raised 6 billion won (approximately $5 million) in Series A funding.

The round was led by Samsung Venture Investment. New investors, including Evergreen Investment Partners, Mirae Asset Venture Investment, Flux Ventures, IBK Industrial Bank, and Daekyo Investment, also participated, along with existing investor Big Basin Capital.

Founded in 1999, Samsung Venture Investment is the corporate venture capital arm of Samsung Electronics based in Seoul, South Korea. The firm prefers to invest in semiconductors, telecommunication, software, internet, bioengineering, and medical sectors across Europe, Asia & North America.

The company will use the funding for business development, expanding the customer base, and enhancing AI technology.

mAy-I is a tech startup that develops advanced human tracking solutions based on machine learning techniques. mAy-I specializes in the mAsh video processing AI solution, which analyzes visitor data using CCTVs installed in physical spaces, providing insights into demographics, foot traffic patterns, dwell times, behaviors, and product interactions. The company utilizes CCTV footage to analyze all aspects of visitor data, from gender and age group to movement patterns, dwell time, behavior, and interaction with products.

Funding Details

Company: mAy-I Inc.

Raised: KRW 6.0B

Round: Series A

Funding Month: December 2023

Lead Investors: Samsung Venture Investment

Additional Investors: Evergreen Investment Partners, Mirae Asset Venture Investment, Flux Ventures, IBK Industrial Bank, Daekyo Investment, and Big Basin Capital

Company Website: https://may-i.io/

Software Category: Human Tracking Solution