AI startup Enhans selected as “Scale-up TIPS”

December 26, 2023

Enhans, a startup in the artificial intelligence (AI) commerce solution sector formerly known as Viralpick, announced on the 26th that it has been selected for the Ministry of SMEs and Startups' "Tech Investor Program for Scale-up" (TIPS).

TIPS supports promising companies in the manufacturing and hardware sectors utilizing private sector expertise. If a private operator invests more than 1 billion won, the government provides concurrent support of up to 20 billion won for investment-type research and development (R&D) and up to 12 billion won over three years for investment-linked R&D.

Established in 2021, Enhans is developing an AI model that goes beyond simple monitoring to analyze opportunities and directly operate commerce, based on data technology that maintains and manages product information worldwide in real-time and in a time series.

Specifically, it provides a highly automated business solution for overseas product sourcing based on big data and AI in areas such as market analysis, product sourcing, sales channel management, sales promotion, purchase conversion, and brand protection.

By using this solution, users can select "best-selling products" based on information from major commerce markets worldwide and secure competitive prices for products to be sold through data acquisition and connections with overseas sellers (factories, wholesalers).

Enhans also facilitates the entry of numerous brands into domestic commerce as well as expansion into commerce markets in the United States, Southeast Asia, and Europe, including Amazon and Shopee. Major domestic companies such as Samsung Electronics are using Enhans' solutions for domestic and international commerce operations.

Last month, Enhans was also selected for the Credit Guarantee Fund's "Pre-ICON." Pre-ICON supports startups with excellent technical and innovative capabilities through a five-stage scale-up program. In September, it secured a Series A investment of 7.5 billion won, laying the foundation for growth.

Lee Seung-hyun, CEO of Enhans, stated, "While AI that generates sentences is widely known, awareness of AI agents that can actually increase productivity by performing tasks through commands is still low." He added, "We will enhance and rapidly commercialize AI agents, which are action-oriented AI."

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