# ISTE Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/iste-co

- Industry: Semiconductors
- Headquarters: Hwaseong, South Korea
- Website: www.iste.co.kr/
- Total disclosed funding: $3.5M
- Latest round: Seed (Oct 30, 2017)
- Investors on record: 3

## About

Founded in 2013, and based in Hwaseong, South Korea, ISTE Co., Ltd. focuses on advanced technology solutions. The company specializes in a range of advanced technologies primarily targeting the semiconductor, flat panel display (FPD), hydrogen energy, and energy storage sectors, particularly with their Vanadium Redox Flow Battery (VRFB) systems. ISTE Co., Ltd.'s solutions find application in markets across Asia, Europe, and North America, serving a diverse client base that includes prominent players in the semiconductor and energy sectors, as well as manufacturers leveraging hydrogen technologies. In June 2017, ISTE Co., Ltd. raised KRW 4 billion in seed funding from new investors IBK Capital, Medici Investment, and Korea Development Bank.

ISTE Co., Ltd.'s core product offerings include cleaning equipment, thermal equipment, and automation solutions tailored for various industrial applications, particularly in semiconductor manufacturing. These products are designed to enhance operational efficiency and reliability, addressing specific challenges faced by manufacturers in maintaining high standards of cleanliness and operational precision.

The revenue model of ISTE Co., Ltd. is structured around direct sales and partnerships with businesses in the technology and energy sectors, focusing on B2B transactions. Key offerings include their advanced cleaning and thermal equipment, which are essential for semiconductor fabrication processes, contributing significantly to the company’s revenue through repeat orders from established clients.

The company aims to expand into North American and European markets by 2025, targeting partnerships with local manufacturers in the semiconductor and hydrogen sectors. The funding in June 2017 will support ISTE Co., Ltd.'s research and development, enhancing manufacturing capabilities, and strengthening their market presence in these regions.

## Funding rounds

- Seed, Oct 30, 2017, $1.8M — Korea Development Bank
- Seed, Jun 28, 2017, $1.7M — Medici Investment, IBK Capital

## Investors

- Medici Investment (https://capitalatlas.ai/funds/medici-investment) — Seed
- IBK Capital (https://capitalatlas.ai/funds/ibk-capital) — Seed
- Korea Development Bank (https://capitalatlas.ai/funds/korea-development-bank) — Seed