# TeeLabs Co.

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

- Industry: Hardware
- Headquarters: Seoul, South Korea
- Website: www.teevr.com
- Latest round: Seed (Jul 1, 2017)
- Investors on record: 2

## About

TeeLabs Co., Ltd. is a South Korean company that specializes in developing authentic digital twins using advanced 3D scanning technology, enhancing virtual representations of real spaces for various applications.Founded in 2017 and headquartered in Seoul, South Korea, TeeLabs Co., Ltd. focuses on creating digital twins. The company has not indicated any significant pivots, subsidiaries, or parent companies. TeeLabs has raised a total of KRW 5 billion across multiple funding rounds, with the most recent funding completed on July 31, 2020, involving significant investments from Kiwoom Securities, Korea Development Bank, and LG Electronics. The CEO, Nathan Doh, leads the company as it continues to expand its offerings and market reach.TeeLabs specializes in creating authentic digital twins through advanced 3D scanning technology, allowing for immersive representations of real spaces. The company offers a Digital Mapping Kit that assists customers in generating digital maps efficiently. Additionally, TeeLabs caters to the MICE (Meetings, Incentives, Conferences, and Exhibitions) industry by providing smart MICE services, including custom platforms and metaverse booths, targeting clients like corporate and educational institutions, event planners, and marketing agencies.TeeLabs generates revenue primarily through the sale of its Digital Mapping Kit and MICE solutions. Business transactions often occur via B2B partnerships, where clients purchase the Digital Mapping Kit for internal use or integrate TeeLabs' digital twins into their products. Revenue stems from direct sales, with customized project agreements and subscription models for ongoing platform access being common. The Digital Mapping Kit is a key revenue driver, reflecting the growing demand for digital solutions across various industries.Following the KRW 5 billion funding raised on July 31, 2020, TeeLabs plans to broaden its business scope into proptech sectors like VR property introduction and VR virtual interior design. The company aims to launch new products that cater to these areas. Additionally, TeeLabs is focusing on market expansion, although specific regions have not been disclosed. The funding will support these initiatives, allowing for enhanced product development and market entry strategies.

## Funding rounds

- Seed, Jul 1, 2017 — Korea Tech Incubator for Startup, POSTECH Holdings

## Investors

- Korea Tech Incubator for Startup — Seed
- POSTECH Holdings (https://capitalatlas.ai/funds/postech-holdings) — Seed