Ineasy

About Ineasy

INEEJI is an industrial artificial intelligence company that provides process optimization solutions for the manufacturing sector. Founded in 2019 by CEO Jaesik Choi, an associate professor at the Korea Advanced Institute of Science and Technology (KAIST) AI Graduate School, the company leverages explainable AI (XAI) to enhance productivity, reduce costs, and improve quality. Choi's background includes work as an adjunct professor at Lawrence Berkeley National Laboratory and an associate professor at UNIST (Ulsan Institute of Science and Technology). The company's genesis came from a collaboration with POSCO between 2016 and 2018 to develop smart factories, which led to the world's first 'Lighthouse Factory' blast furnace recognized by the World Economic Forum.

INEEJI's core offering is the 'Infinite Optimal Series', an AI solution that focuses on prediction and explanation. This technology analyzes manufacturing process variables to predict outcomes and provides explanations for its predictions, a feature known as eXplainable AI. The suite includes capabilities for automating data preprocessing, identifying causal relationships, predicting multivariate time series data, and optimizing prediction models. The company's business model centers on providing these AI solutions to clients in heavy industries such as steel, cement, glass, chemicals, and power generation. By implementing INEEJI's technology, these companies can achieve benefits like reduced energy consumption, increased production, and stabilized quality. For example, their solutions are applied for optimal heat control in blast furnaces, electric furnaces, and kilns, as well as optimizing chemical reactions and boiler operations.

The company has shown significant growth, reporting an annual contract volume (ACV) growth rate of 37% as of September 2023. In January 2024, INEEJI announced it had raised 8.1 billion won in a Series A funding round, bringing its total cumulative investment to 13.6 billion won. Investors include KT Investment, KDB Korea Development Bank, Capstone Partners, and Woori Bank. With an eye on global expansion, INEEJI has established a branch in Tokyo, Japan, recognizing the similarities in manufacturing processes between Korea and Japan. The company plans to hire local talent and co-develop AI solutions tailored to the Japanese market, with support from Softbank subsidiary “STATION AI”.