CarbonBlack said on the 12th that it has brought on Jang Min-hong, former chief business officer (CBO) and co-founder of Lunit, which is considered one of the first-generation medical artificial intelligence (AI) corporations, as a partner.
CarbonBlack is a physical AI-focused venture studio founded last year by CEO Moon Tae-yeon, a former vice president of the machine vision corporations SuALab, which was acquired in 2019 by Nasdaq-listed Cognex for about 230 billion won, and Vice President Kim Jong-gwan, who led strategy at SuALab and served as CFO at VoiceRoo.
A venture studio, still a relatively unfamiliar concept in Korea, is a company-builder business model that, unlike venture capital (VC) that simply invests in already established Start - Up, takes the lead across the entire process, including securing funding, attracting key talent, setting business strategy, and expanding into markets. A representative example in pharmaceuticals is Flagship Pioneering in the United States, which created Moderna.
With the addition of Partner Jang Min-hong, who was named to MIT Technology Review's "Innovators Under 35" in Korea in 2021, CarbonBlack has further strengthened its unrivaled expertise and execution in the venture and AI industries, with all executives leveraging successful exit experience in AI.
CarbonBlack CEO Moon Tae-yeon said, "While overseeing the medical imaging solutions business at Lunit, Jang built strategic partnerships with global medical device leaders such as GE HealthCare, Philips, and Fujifilm and led domestic and overseas business expansion, and that experience will be a great boost to CarbonBlack's growth," adding, "We will create AI value from data hidden on industrial sites and focus on global market expansion, Jang's area of expertise."
Meanwhile, CarbonBlack, together with Co-CEO Kim Je-hyeok from a Yale research team and CTO Seo Hyeong-ju, who holds a Ph.D. in robotics from MIT, founded its first company, CarbonSix, a physical AI corporations specialized in manufacturing, last year, and in Sep. it achieved the first commercialization of physical AI technology in the industry through the standardized physical AI product SigmaKit.