Busan, Newswire – RoboFriend, the operator of the indoor navigation app EGG Map, announced on the 27th that it has successfully secured new investment.
The latest funding round attracted participation from leading domestic investment firms, including The Invention Lab, Wooree Construction, Kukbo Design, and IGIS Investment Partners. RoboFriend was selected as the first investment project under the PropTech Joint Venture Fund established by The Invention Lab, Wooree Construction, and Kukbo Design. Additionally, the company was chosen for IGIS Investment Partners’ startup acceleration program, ‘IGIS Tomorrow Zone’.
RoboFriend is an IT venture company specializing in precision indoor positioning services based on magnetic field data, providing location tracking solutions in GPS-inaccessible environments.
Using its proprietary technology, RoboFriend developed EGG Map, a smart indoor navigation app that requires no additional installations. The app collects data from existing Wi-Fi routers and big data-based magnetic field readings, enabling seamless navigation not only outdoors but also indoors. Currently, EGG Map is available at COEX in Gangnam, Seoul.
With this investment, RoboFriend is accelerating the expansion of EGG Map’s capabilities. The company plans to extend the service beyond large shopping malls like COEX to include subway stations (helping users locate exits) and parking lots (assisting in finding parked vehicles), aiming to revolutionize everyday navigation.
Kim Young-sik, CEO of RoboFriend, stated, “We are delighted to have secured funding from multiple specialized investment firms. Successfully attracting investment despite the challenging economic climate validates the technological excellence of EGG Map.”
He added, “Following our 2021 Seed investment from the Korea Credit Guarantee Fund, we have now successfully secured Pre-Series A funding. We will continue striving to establish EGG Map as an essential app for both indoor and outdoor navigation, catering to pedestrian users.”