NH NongHyup Bank said on the 9th that CEO Kang Tae-young visited the headquarters of Davio, a spatial data and agricultural technology company, to review the growth of a firm backed by the bank’s agri-food fund and discuss ways to support it.
Davio, founded in 2012, runs a smart agriculture monitoring business based on spatial data and artificial intelligence technology. The company is expanding its business areas with investment from NongHyup Bank’s agri-food fund.
NongHyup Bank said it operates a “life-cycle value-up support system” for companies in the agri-food and AgTech sectors, providing assistance from the investment stage through growth and maturity.
During a meeting with Davio CEO Park Ju-heum and other executives, Kang discussed the company’s progress since the investment, support through management consulting and network connections, plans to expand financial support such as loans and guarantees, and future growth strategies including an initial public offering.
“Venture capital investment in K-food and AgTech is a key task to strengthen the future competitiveness of South Korean agriculture,” Kang said. “NongHyup Bank will be a reliable financial partner that supports the growth of innovative companies and helps drive industry development.”
* This article has been translated by AI.
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