Bone AI: $12M to Revolutionize Asian Defense with AI Robotics
South Korea's big defense companies are sitting on a mountain of orders, something like $69 billion! The country is also pouring money into new weapons and making friends with Europe. It’s now the second-biggest arms dealer to European NATO countries, which is pretty impressive.
Here's the thing: you'd think there'd be tons of startups jumping into the mix, but there aren't. South Korea's defense tech startup world is still pretty new.
Enter Bone AI. This startup, with offices in Seoul and California, wants to change all that. They're building an AI platform to control software, hardware, and manufacturing. Think of them as developing next-gen self-driving vehicles for air, land, and sea, mostly for government contracts. They're starting with drones for things like delivering supplies, spotting wildfires, and taking down other drones.
The company's founder, DK Lee, also started MarqVision. Bone AI just raised $12 million in seed funding. One of their investors is Kolon Group, a South Korean company that knows a lot about making advanced materials. Lee said that Kolon is a perfect partner for Bone because they work with AI, robots, and new manufacturing techniques.
What's really cool is that Bone AI is already making money. They landed a big government contract and raked in $3 million in their first year! They were also chosen for a South Korean government program to use drones and robots for logistics.
Acquisition Strategy
So, how did a company that's less than a year old get all these deals? Well, Lee told that Bone AI bought a South Korean drone company called D-Makers just six months after launching. They're now combining their AI tech with the drone company. And they're planning to buy even more companies in the future.
Lee is serious about Bone AI. He put in over 10% of the funding himself, about $1.5 million. He wanted to show everyone that he's all in on this project, both financially and emotionally.
After his experience with MarqVision, he realized that AI isn't just about software anymore. It's about building real, physical things. He noticed that AI and hardware were being developed separately. That's why he wants to create a company that brings everything together.
He said that even Nvidia, the biggest AI company, depends on factories and manufacturers all over the world. He also said that South Korea has a history of building big hardware companies like Hyundai, Samsung, and LG. That's why he believes South Korea can support more drone and robot companies.
Bone AI's goal is to build the supply chain for "Physical AI" in South Korea and then expand to other countries like the US and Europe.
In the US, Anduril is a well-known company worth over $30 billion. In Europe, Helsing is valued at around $13 billion. But Asia hasn't seen the same kind of growth in this area.
Michael Kim from Third Prime said that Bone AI is in a great position because countries are focusing on bringing manufacturing back home. He thinks that Bone AI is working on a very important problem.
South Korea has a lot of affordable, high-quality hardware manufacturers in industries like shipbuilding, cars, and semiconductors. Kim said that Bone AI has a smart plan to buy and combine these companies, which will help them grow faster and get their products out there.
Source: TechCrunch