"South Korea's major defense giants have amassed roughly $69 billion in order backlogs as of late 2024, according to media reports. Seoul is also accelerating investment in advanced weapons systems and expanding its defense ties, particularly with Europe. With the new EU-South Korea Security and Defence Partnership in 2024 and growing exports of vehicles and artillery, the country has become the second-largest arms supplier to European NATO members."
"Bone AI, a new startup based in Seoul and Palo Alto, California, launched earlier this year with an ambitious plan to build a fully unified AI platform that ties together software, hardware, and manufacturing. The company develops next-generation autonomous air (UAVs), ground (UGVs) and marine (USVs) vehicles for defense and government clients, focusing largely on B2G contracts. While it ultimately aims to operate all three types of systems, Bone is starting with its defense-focused aerial drones,"
"The company, founded by DK Lee (who also co-founded MarqVision), has raised a $12 seed round led by Third Prime with participation from Kolon Group, a South Korean strategic investor that has expertise in developing advanced materials and manufacturing. Kolon is an ideal strategic partner for Bone, which operates across AI, robotics and next-generation manufacturing, Lee said in an exclusive interview with TechCrunch."
South Korea's defense companies hold roughly $69 billion in order backlogs and are increasing investment in advanced weapons and deeper defense ties with Europe. The country has become the second-largest arms supplier to European NATO members following new security partnerships in 2024. The domestic defense-tech startup ecosystem remains nascent despite heavy industrial capacity. Bone AI launched with offices in Seoul and Palo Alto to build a unified AI platform linking software, hardware, and manufacturing. The company develops autonomous UAVs, UGVs, and USVs for defense and government B2G customers, beginning with aerial drones for logistics, wildfire detection, and anti-drone roles. Founder DK Lee raised a $12 seed round led by Third Prime with Kolon Group participation and secured early revenue, including a seven-figure B2G contract and $3 million in first-year revenue.
Read at TechCrunch
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