NAMUTECH announced on the 16th that Acornsoft, a subsidiary that develops cloud platform software, has attracted investment from domestic venture capital (VC), including GNTech Venture Investment.
In this investment, Acornsoft’s corporate value is at 40 billion won. The company explained that VCs (Venture Capital) who decided to invest highly praised Acornsoft’s technology and human resource competitiveness, which began to attract attention in the global market.
Acornsoft developed a container-based cloud platform, “Cocktail Cloud,” and has entered the domestic, Japanese, and US markets. It has strengths such as completeness, price, customization, OS independence, user convenience, and over ten years of experience in the cloud field, competing with leading global products such as Red Hat’s OpenShift and Pivotal’s Cloud Foundry.
Major customers are LS, GS, Samsung Electronics, Shinhan Bank, Hyundai Card, and the Korean Intellectual Property Office. The demand for the multi-hybrid cloud has been increasing, mainly in major financial institutions such as banks, insurance, and cards.
Park Sung-won, head of G&T Venture Investment, said, “Acornsoft is a rare cloud-specialized software company in Korea that competes with global companies such as IBM and Red Hat, and we decided to make this investment because we believe it has the potential to grow into a global company in the current fast-growing cloud market.”
“We planned to attract $10 million in investment through CapBridge in Singapore in the first half of 2020 through last year’s contract, but we have attracted investment from domestic VCs due to the delay of Singapore investment due to Covid-19, and we will continue to invest and list in Singapore market,” said an official from Acornsoft.
“We are pleased that Acornsoft will receive investment from Korea’s leading venture investment institutions when discussions on the introduction of cloud platforms by customers have been active,” said Jung Chul, CEO of NAMUTECH. “We will do our best to make inroads into the Oceania, Southeast Asia, and South Asia markets and grow into global companies through the establishment of our branch offices in Singapore in the second half of this year.”
