MakinaRocks Participates in ‘Korea-U.S. Startup Summit’… “Shows the True Value of AI on Site with Production and Industry Specialized AI!”

MakinaRocks Booth participated in the Korea-U.S. Startup Summit │shooting-Aving News

MakinaRocks (CEO Sung-ho Yoon, Jae-hyuk Lee) participated in the Korea-U.S. Startup Summit, which was held from Sept 20th(Tues) to the 21st(Wed, local time) in Pier 17 in New York, USA.

MakinaRocks is an AI startup that solves various issues found on industry sites with machine learning (ML), deep learning (DL), and reinforcement learning (RL) technology-based Core ML capabilities and Enterprise MLOps products. It is creating AI performance examples in the fields of energy, semiconductor, battery, and production industries with their own specialized technology in the areas of anomaly detection, control & optimization, and predictive analysis. In addition, their MLOps product ‘Runway’, which seamlessly connects the development – distribution – and application of AI models, is easily and quickly applying AI on production and industry sites.

MakinaRocks RunwayTM, which was introduced in this exhibition, is an ‘Enterprise MLOps platform’ which allows AI and ML models to be used on actual industrial sites with just a few clicks. It provides functions that can be used even without knowledge of operation system software stacks to help manage the life cycle of AI and ML models, including ▲development, ▲distribution and operation,▲ and maintenance and improvement. This is essential for companies that operate multiple models of maintenance and improvement, and even a single model can be used for continuous performance improvements, according to a spokesman of the company.

MakinaRocks Link™ is a tool that converts ML code scripts written by DS (Data Scientists) in a Jupyter laptop environment into a pipeline which can be used in a production environment. It improves collaboration between DS by being equipped with a function that is able to share and give feedback on pipeline and cell unit results. It is able to also improve work speeds by removing redundant development and unnecessary restarts in the same function.

source-MakinaRocks

A spokesman for MakinaRocks said, “Many companies expect to lead growth and innovation using AI, but the percentage of companies that undertook AI projects that actually reach their initial goals is very low. Most projects remain in the PoC stage. In response, our company used our experience on various AI projects to develop a MLOps platform, MakinaRocks Runway, to manage the ML life cycle which includes ML development, distribution, and operation, and maintenance and improvement so that AI and ML models can actually be applied in industry sites and make an impact on business.”

They then went on to say, “We decided to attend this event to introduce MakinaRocks’ project unit solution for companies looking into introducing AI to optimize highly complicated processes, such as in manufacturing, energy, and battery production, but are facing difficulties in model development and distribution. In addition, we planned to introduce Runway to companies that have developed their own AI model but are inoperable due to a lack of MLOps environment, to accelerate the introduction of AI.”

Since its founding, MakinaRocks has reached total of $2.2M in combined sales from 2018 to 2021 and expects a turnover of $4.9M this year in current standards. It has received a total of $18M in investments from investors like, Applied Materials, Hyundai Motors, and SK.

From the left) Sung-ho Yoon, CEO of MakinaRocks, and Leo Thevenet, CEO of French media Lecafedugeek, pose. │shooting-Aving News

A spokesman for the company revealed future plans for the company, saying, “Our goal is to reach a total of $85M in sales over the next 3 years, and we hope to reach $66M of this through product sales. These figures reflect MakinaRocks’ plan to expand our domain to target global clients in the mid to long term, and our will to grow our product business.”

On the other hand, the Korea-U.S.STARTUP SUMMIT hosted by the Ministry of SMEs and Startups(Minister Young Lee) and supervised by the Korea Institute of Startup & Entrepreneurship Development(Director Yongmoon Kim) and Korea Venture Investment is providing scene of network between South Korean startups and global companies, VC and startups from New York with the nickname Silicon Alley where ecosystem and IT industry are well-developed. Through this event, they are seeking new business models of K-startups and advances into the global market, and promotes domestic investment of global capital. During the event, a corporate PR booth (joint pavilion between large corporation-startup) was set up, and U.S. VC and investment attraction IR, AC, Tech Media, and meetups and seminars were held with companies succeeded to enter the U.S. market.

KOREA – US STARTUP SUMMIT NEWS PAGE  : https://url.kr/4cod53

KOREA-U.S. STARTUP SUMMIT VIDEO SKETCH