Israeli robotics tech company SixAI has signed a strategic agreement to form a joint venture with South Korean semiconductor test solutions giant ISC and tech-focused investment company Yozma Group Korea, the company announced this week.
The venture will allow SixAI to make use of ISC’s manufacturing capabilities in South Korea. ISC also expects sales growth by expanding the business to AI-based test inspections and strengthening the lineup of nonmemory chip testing solutions.
The companies aim to collaborate to secure opportunities in the USD 4 trillion AI robotics market.
The strategic agreement was signed in Seoul. The signing ceremony was attended by several distinguished guests, including Lee Won Jae, administrator of the Incheon Free Economic Zone; Chung Young Bae, ISC chairman; Lee Hwan-kyun, former minister of transport and construction; and Akiva Joseph Tor, Israeli ambassador to the Republic of Korea since November 2020.
Founded in 2019 by a team of Israeli professionals led by serial entrepreneur Ran Poliakine, SixAI is a tech and investment company specializing in AI robotics and related IP.
Ambassador Tor called the partnership with ISC a “prime example of ‘scaling up together’ and the potential for Israel-Korea high technology cooperation.”
“Our shared dreams are becoming fruitful realities—albeit we know that this is just the beginning,” he said.
By applying this cooperative model, Yozma plans to actively support the global commercialization of SixAI. Yozma Group Korea has been creating a global business model that matches Korea’s manufacturing technology with overseas technology companies.
Established in 2001, ISC is a global total test solution company with parts and modules for the test process of semiconductor manufacturing, and has the top market share in the global test socket market. ISC develops and produces test sockets needed to test IC chips used in semiconductors, IT, BT, automobiles, and various electronic parts. The company specializes in growth sectors such as AI, VR, autonomous vehicles, and IoT products.
“This joint venture will provide us with a bridgehead into global AI robotics and allow us to play a crucial role in the Industry 4.0-related market,” said Chung Young Bae, chairman of ISC. “I believe creating synergy between Israeli creativity and ISC’s innovative technologies will prove incredibly efficient as we look for opportunities in the market and develop solutions.
“SixAI’s quality inspection and material transportation technology will be able to provide a solution that will eliminate technological barriers in the fourth industrial revolution. By actively utilizing the infrastructure of the Incheon Free Economic Zone, we will fully support the expansion of two corporations and hope to lead the Industry 4.0 market for opportunities estimated at USD 4 trillion,” said Wonjae Lee, head of Asia Pacific of Yozma Group.
“The combination of AI and robotics is becoming increasingly important. This joint venture will not only help us to understand what the market needs, but allow our companies to fast-track market shaping solutions for key Korean industries and organizations. The application of technology to manufacturing is by no means a new idea—but this joint venture is the next step in making Industry 4.0 a reality,” said SixAI director Onn Fenig.
The demand for industrial automation has increased due to an aging global population and COVID-19, Fenig said. “Through this JV, we hope to quickly respond to these demands and mass-produce AI robots to free humans from repetitive tasks. SixAI creates value by connecting high technologies to existing industrial sites,” he added.
“Israel is a world leader in applied artificial intelligence per capita, with 40 times more technologies based on AI than the USA, the world leader,” said Ambassador Tor. “Along with the Republic of Korea, Israel leads the world in national investment in R&D, which sparks innovation and growth at the cutting edge of technology.”
This article first appeared in NoCamels, which covers innovations from Israel for a global audience.