SEOUL, July 21 (Yonhap) — An accelerator for tech startups operated by Naver Inc., South Korea’s largest internet portal operator, said Tuesday it has made new investments in two promising tech startups.
Naver’s D2 Startup Factory, also known as D2SF, said it has selected the two startups that have expertise in developing solutions that are essential in data processing.
“The amount of data processing is increasing 61 percent every year globally,” said Yang Sang-whan, an official in charge of D2SF, adding that the two startups have potential to become frontrunners in the field.
A team of seven engineers at Cloa aims to pioneer the next generation of data infrastructure for cloud and edge computing.
“What Cloa aims to do is to provide a solution to support data processing pipelines in real time,” CEO Morgan Lim said. “The core point is to process data rapidly in the midst of floods of data.”
The entrepreneur said the company plans to enroll the solution by the end of this year for the cloud computing market and further make inroads into the edge computing market as even edge devices need real-time data processing.
Desilo Inc. is currently in the process of developing a homomorphically encrypted machine learning solution amid the rising concerns over privacy invasion.
Homomorphic encryption is a form of encryption that differs from typical encryption methods by allowing computation to be performed directly on encrypted data, minimizing possible data leakage and security breaches.
“Our vision is to create the data-centered world without sacrificing privacy,” said CEO Lee Seung-myung, adding that the technology can be applied in many fields, such as genome analysis and remote monitoring systems.
Given the rise of machine learning applications using sensitive private data, implementing the algorithm will provide security to many companies in various industries, the entrepreneur said.