# SOYNET

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

- Industry: Business Support Services
- Headquarters: Seongnam, South Korea
- Website: www.soynet.io
- Latest round: Seed (Mar 1, 2021)
- Investors on record: 2

## About

Based in South Korea, SoyNet is an AI engine development company specializing in software-based inference acceleration solutions that enhance the performance of AI models across various applications.Founded in 2018, SoyNet operates from Seongnam, South Korea, focusing on AI solutions that optimize the execution of machine learning models. The company was established by Jung-Woo Park, who previously founded other ventures. In July 2021, SoyNet raised KRW 1 billion in venture funding from investors including Industrial Bank of Korea and SEOIL E&M, with continued support from Plan.H Ventures. This funding has contributed to the total amount raised by the company of KRW 1 billion across multiple funding rounds, with their last deal concluded on July 9, 2021.SoyNet offers a sophisticated software-based inference acceleration solution that improves the speed and efficiency of AI model inference. Their product employs a high-speed reasoning engine developed in C/C++ to enhance the execution of AI models created on popular frameworks like TensorFlow, PyTorch, and Caffe. This solution effectively addresses challenges SMEs face in implementing deep learning models on resource-constrained IoT devices. The optimized models can integrate seamlessly into various applications via a simple API, supporting use cases in computer vision, natural language processing, and time series analysis. SoyNet's clientele spans diverse industries, with key customers including HANATECH SYSTEM, POSCO, and Hyundai Steel, and their products are actively used in markets throughout Asia and beyond.SoyNet's revenue model is centered around a subscription-based framework, offering a variety of pricing plans tailored to its clients. The company provides access to its optimized AI models through its Model Market, where customers can select from free models or those available for a fee based on environmental complexity. Additionally, SoyNet enhances client support through paid online and email assistance. Their revenue structure also includes partnerships that offer premium subscription plans, ensuring consistent revenue growth through ongoing subscriptions and support contracts.Looking ahead, SoyNet plans to launch new products designed to further enhance AI model performance and application versatility. Specific release dates and details on these upcoming products will be provided as development progresses. The company aims to expand into new geographic markets, particularly targeting regions in North America and Europe by 2023. The recent funding of KRW 1 billion will be utilized to support these initiatives, ensuring adequate resources for product development and market entry.

## Funding rounds

- Seed, Mar 1, 2021 — Korea Tech Incubator for Startup, Plan.H Ventures

## Investors

- Korea Tech Incubator for Startup — Seed
- Plan.H Ventures (https://capitalatlas.ai/funds/plan-h-ventures) — Seed