# INGINE

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ingine

- Industry: Power & Utilities
- Headquarters: Seoul, South Korea
- Website: www.ingine.co.kr
- Total disclosed funding: $6.1M
- Latest round: Series B (Nov 30, 2021)
- Investors on record: 4

## About

Based in Seoul, South Korea, and founded in 2011, INGINE Inc. operates as an energy company that provides wave power generation technology and sells electricity by constructing wave power plants. In March 2022, INGINE Inc. raised KRW 2 billion in venture funding from investor Korea Venture Investment Corporation. As of 2025, the company is led by its CEO Mr. Yong-Jun Sung.

INGINE Inc. offers wave power generation technology INWave that can be installed offshore through multi-directional recovery energy technology which extracts energy from the movement from all directions of the wave and can also obtain energy in low-depth waves. INWave is conducting research and development based on the demonstration plant installed in Jeju special self-governing province.

INGINE Inc. plans to use the series B funding to support its technology development. The company is also planning to go public through an initial public offering in 2023.

## Funding rounds

- Series B, Nov 30, 2021, $2.5M — The Wells Investment, Hana Securities, Enlight Ventures
- Series B, May 1, 2021, $3.6M — Korea Development Bank

## Investors

- Korea Development Bank (https://capitalatlas.ai/funds/korea-development-bank) — Series B
- The Wells Investment (https://capitalatlas.ai/funds/the-wells-investment) — Series B
- Hana Securities (https://capitalatlas.ai/funds/hana-securities) — Series B
- Enlight Ventures (https://capitalatlas.ai/funds/enlight-ventures) — Series B