November 23, 2024

• 

(Hyosung Ventures)

Hyosung Group's corporate venture capital arm Hyosung Ventures said Tuesday that it had decided to invest in Colosseum, a company specializing in logistics center network solutions.

Colosseum is a fourth-party logistics provider, offering comprehensive solutions that encompass inventory management, transportation, packaging and logistics consulting.

"We are exploring innovative business partners that fit the rapidly changing trends of future industries beyond the logistics system solution sector," a company official said. "We plan to continue investing to support the growth of small and medium enterprises and the development of both Hyosung Group and the domestic industry."

Colosseum's flagship software, COLO, meets the intricate logistics demands of individual entrepreneurs, small to medium-sized sellers, and corporate brand manufacturers and distributors, according to Hyosung Ventures.

Facilitating the management of logistics-related data from order collection to delivery, COLO is designed to enhance user efficiency and reduce operational costs, demonstrating adaptability to both domestic and international logistics systems.

Hyosung Ventures plans to apply COLO in Hyosung's subsidiaries, including in Vietnam, to streamline and optimize logistics processes.

Meanwhile, Hyosung Ventures has directed investments toward domestic firms specializing in artificial intelligence and battery technologies since it formed a corporate venture capital fund -- the CVC Scale-Up Fund I with 50 billion won ($38.5 million) in March last year, which included a 20 billion won contribution from the Industry Ministry. As part of the program, Persona AI and Betterwhy, secured investments from the venture capital firm worth 5 billion won and 2 billion won, respectively.

By Park Se-ra (serap1005@heraldcorp.com)