IBK Hosts Startup IR "NextRound" at Hyundai Motor Group Yangjae Headquarters

Supporting Venture Investment Networks in Robotics and Mobility First External Event Since the Renovation of Yangjae HeadquartersSynergy Expected Between IBK’s VC Network and Hyundai Motor’s Open Innovation

Industrial Bank of Korea (IBK) recently held a private startup investment networking event called "NextRound" at Hyundai Motor Group's Yangjae headquarters, which has just completed interior renovations. As Hyundai Motor Group expands its efforts to discover innovative companies in future mobility and robotics, IBK is serving as a bridge connecting the venture investment network.

The robot "Dali Gardener" watering the landscaping in the lobby of the Hyundai Motor Group Yangjae Building. Provided by Hyundai Motor Group.

According to the financial industry on June 2, IBK hosted the "NextRound" event at Hyundai Motor Group's Yangjae building on May 26. This was the first external event held since the renovated Yangjae headquarters was unveiled.

NextRound is a startup investment platform operated by IBK. It provides startups with opportunities to hold investor relations (IR) sessions with venture capital (VC) firms and accelerators and seek follow-up investment opportunities. The program strongly focuses on facilitating networking between startups and investors to expand investment opportunities.

The decision to hold this event at Hyundai Motor Group’s Yangjae headquarters is seen as an effort to support the group's future new business strategies from multiple angles. Hyundai Motor Group has designated future mobility and robotics as its core new business pillars and is expanding collaboration with external innovative companies. At the event, the team leader of Hyundai Motor Group Robotics Lab gave a lecture, sharing the company’s technology roadmap.

IBK and Hyundai Motor Group have continuously expanded their cooperation in startup investment and nurturing. In 2021, IBK invested 20 billion won in Hyundai Motor Group’s "Zero One Fund II," which has a total size of 74.5 billion won. Zero One, Hyundai Motor Group’s open innovation platform, discovers promising startups, connects them to business divisions within the group, and invests in startups in new business areas through the Zero One Fund.

IBK has established a robust investor network through its own programs, such as NextRound and NextOne. NextOne is an acceleration program for discovering and nurturing promising startups. A financial industry official stated, "IBK and Hyundai Motor Group have maintained a strategic partnership in startup investment over the long term," adding, "This event is an example of the synergy between IBK’s venture capital network and the open innovation efforts of a major corporation."

The Yangjae headquarters, where NextRound was held, has been completely refurbished by Hyundai Motor Group to establish itself as a leader in "Physical AI." Through the recent renovation of the building’s lobby, the group has deployed robots for watering, delivery, and security in actual operations.

The "DAL-e Gardener," a watering robot that checks the condition of plants in the lobby and waters them, and the "DAL-e Delivery," a delivery robot, were both independently developed by Hyundai Motor Group Robotics Lab. The security robot "Spot" is also equipped with the Robotics Lab’s autonomous driving module.

Hyundai Motor Group is also accelerating the commercialization of its robotics business. In addition to transferring the Robotics Lab to the Advanced Vehicle Platform (AVP) division, the group is preparing for mass production of the mobile robot platform "MobED." The company is also speeding up the expansion of its lineup, including wearable robots such as "Exoskel Shoulder" and "Exoskel Waist."

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