๐From the latest news from WEFLO to trends in the drone From the latest news from WEFLO to trends in the drone and AAM industries.
Our newsletter 'Waffle', is packed with insightful content. |
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The first half of 2024 has whizzed by like time travel!
WEFLO has experienced tremendous growth in the second quarter,
fueled by a diverse range of endeavors.
This issue of Waffle is packed with exciting news,
so we hope you'll savor every bite! |
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This issueโs
waffle toppings ๐
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- Investment ๐
- Insight ๐ก
- Good News ๐
- Events โจ
- WEFLO Story ๐
- Ongoing ๐๏ธ |
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Investment ๐
WEFLO is opening a pre-A bridge funding round!
We have opened a pre-A bridge funding round this Q2 to fuel our ambitious expansion plans. WEFLO is leveraging our expertise in scale-up tips and our partnership with KITIA's Small Business Division. Through these investments we expect to close the round with approximately $1.5 million in mid-July.
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Insight ๐ก
Drone and UAM Inspection Solution:
Check Faults in Just 10 Seconds with AI
The days of drones and air taxis flying through the sky are no longer a distant future. As hundreds of aircrafts take to the sky, aircraft inspection becomes even more important.
Previously, two inspectors had to check the aircraft for at least 10 minutes, and the inspection was limited to a purely visual check of the blade and motor. Qualitative visual inspection relies entirely on manpower, which exacerbates the possibility of human error. The risk of accidents still exists.
To address the need for more precise and faster aircraft inspections, WEFLO has developed a future mobility automatic inspection solution based on AI technology to analyze a drone's propulsion system, aircraft unit sensors.
The AI-powered inspection solution can check the condition of internal aircraft components in just 10 seconds. Not only does this dramatically lower the risk of accidents such as crashes which makes for a safer users experience, but it also significantly reduces labor costs and inspection time.
Are you curious about Korea's first aircraft automatic inspection solution?
Click on 'Read More' below to find out!
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Selected for 'Pre-ICON'
We have been selected for the Korea Credit Guarantee Fund's 'Pre-ICON'!
Pre-ICON is a program designed to support the scaling-up of Korea's most innovative startups in the leap phase, between 2 and 10 years after their founding.
We will be guaranteed $2.2 million over two years, which will enable us to further accelerate our expansion into both domestic and global markets.
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Joins NASA's AAM WG
We have been approved to join NASA's AAM Working Group(WG), following its recent membership in Georgia AAM WG (in U.S.A).
We will leverage this oppurtunity to gain insights intothe latest trend and technologies in the US AAM market, enabling development of customizes AAM solutions tailored to the local market.
By understanding regulatory and policy changes related to the industry, we will establish proactive business strategy.
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Joins G3AM
We have been approved to join the Global Association for Advanced Air Mobility (G3AM), an international Organization that has now become the standard in the Advanced Air Mobility(AAM) field according to the Ministry of Science and ICT. G3AM uses its standards to ensure the compatibility, reliability, and sustainability of AAM global technologies and to make them universally available.
G3AM is composed of 67 global companies from places including the US, and the UK, among other countries. We at WEFLO will contribute to the technological advancement and development of G3AM to further cement it as the international standard. |
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Featured in KBS documentary
We were featured in the KBS 1TV special documentary <Drone Dreams: Fly High> in June.
Earlier this year, we were selected by the Ministry of Land, Infrastructure and Transport for the Pocheon city's consortium as the drone delivery unit developer.
This documenary showcased WEFLO's essential role in making Pocheon city into a unique economic zone through its construction of a state of the art drone delivery center.
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Exhibited at the 2024 Korea Drone Expo
We co-operated the โK-Drone Delivery Zoneโ with the Korea Transportation Safety Authority (TS) at the 2024 Korea Drone Expo in May. We unveiled the 'Drone Delivery Center' for the '2024 Drone Demonstration City Construction Project' led by the Ministry of Land, Infrastructure and Transport. This infrastructure will enable the creation of drone delivery infrastructures specialized for islands, ports, parks, and other areas, making it possible to provide rapid delivery even to underserved regions.
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Exhibited at NextRise
We showcased our AI-powered predictive maintenance solutions for future mobility platforms at NextRise 2024 Seoul, taking place at COEX in Seoul in June. We actively explored new business opportunities and pursued strategic partnerships with various companies at its independent booth, 'The GS Challenge: Future Energy,' showcasing inspection and diagnostic solutions for electric vehicles and eVTOLs powered by eco-friendly energy.
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Min-jin Seok joins as CBO
We are thrilled to announce that Min-jin Seok has joined WEFLO as our new Chief Business Officer (CBO).๐
She gained a wealth of expertise through serving s Team Leader for the MDS Business Development Team at Hangul & Computer. In addition she expanded her expertise through her time in the United States as Asia Business Development Team Leader at UL.
With her extensive global experience and proven leadership skills, Seok is well-positioned to lead our efforts in expanding WEFLO's AAM inspection solutions into overseas markets.
"I am excited to join WEFLO and contribute to its mission of becoming a global leader in AAM solutions. I am impressed by WEFLO's innovative technology and vision, and I am committed to leveraging my experience to help the company achieve its full potential in the global market." - by Jinny
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1. Confirmed participation in the EAA AirVenture Show
- We will participating in the EAA AirVenture show, taking place in Oshkosh, Wisconsin, this July. This prestigious event serves as a stepping stone for our goal of entering the U.S. market this year. Notably, we will unveil our innovative "Pro-pit" concept for the first time in the United States.
2. MOLIT drone commercialization project underway
- Weโve been selected as the drone delivery unit operator for the Pocheon City consortium in the '2024 Drone Demonstration City Project' led by the Ministry of Land, Infrastructure and Transport. We are constructing drone delivery infrastructure powered by our "smart solutions," starting with Pocheon City.
3. Passed 1st stage for 'Defense Innovation 100' in 2024
- We have successfully passed the 1st stage for the highly competitive 'Defense Innovation 100' in 2024. We are currently undergoing an 2nd evaluation, and the final selection is scheduled for August.
4. Completed 'Incheon Global UAM Challenge' program
- After being selected for the 'Incheon Global UAM Challenge' program, we completed sessions, program participation, and final presentations. If we are selected as the final winner, we will be provided with overseas pitching sessions and networking opportunities.
5. Confirmed participation in the AIRTAXI World Congress
- We will participating in the AIRTAXI World Congress, taking place in Dubai this October. The AAM industry in the Middle East is rapidly developing, and we are eager to participate in the exhibition to network with AAM experts and gain insights into industry trends.
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