Hanwha Group’s corporate logo atop one of its office buildings in downtown Seoul in this photo provided by the company.
SEOUL, April 26 (Korea Bizwire) — Hanwha Aerospace Co., an aerospace business unit of chemical-to-financial conglomerate Hanwha Group, has invested in an Israeli startup that is developing anti-jamming technology to prevent global positioning system (GPS) signal interference.
The company on Tuesday announced its participation in the Series A investment round for infiniDome in collaboration with Honeywell Ventures of the U.S. and Nextgear Ventures.
The startup attracted a total of US$9 million on a Simple Agreement for Future Equity (SAFE) basis through this investment.
SAFE refers to an investment instrument that gives a seed investor the right to purchase equity at a predetermined cost before its issuance. This one-document contract does not have an expiration or maturity date.
The exact amount of Hanwha Aerospace’s investment was not disclosed.
InfiniDome, which was founded in 2016, has developed an industry-leading anti-jamming solution.
According to Hanwha Aerospace, the solution offers excellent low power-based performance at half the price of its competitors.
Kevin Lee (kevinlee@koreabizwire.com)
