Quazar, a South Korea-based company developing AI solutions for detecting counterfeit luxury goods, has secured seed funding from Incheon Center for Creative Economy & Innovation (Incheon CCEI) and Newborn Ventures. The investment amount was not disclosed.

Quazar has created a labeled dataset by organizing and refining data from over 30,000 luxury item authentication cases. The company stores integrated data as images and labels each image with detailed descriptions, allowing real-time updates with data acquired during evaluations. This technical edge enables Quazar to quickly authenticate items and accurately distinguish high-quality counterfeits, known as “Grade S” and “Grade A” fakes.

Both investors recognized Quazar’s technological prowess and market potential. With the global luxury market continuing to grow, Quazar is aiming for rapid expansion, targeting international markets from the outset.

Lee Han-seop, Director of Incheon CCEI, stated, “Quazar has a solid market positioning strategy and, most importantly, has already acquired customers, which demonstrates high growth potential. Through TIPS, we aim to enhance their technological capabilities and strengthen their competitiveness.”

Lee Geun-woong, CEO of Newborn Ventures, added, “We believe the market Quazar is targeting will become even more robust. We were particularly impressed by the CEO’s leadership, as seen in Quazar’s rapid growth, including securing contracts for over 10,000 authentication services with major retail platforms such as department stores this year.”

Quazar was also selected for the ‘Startup Pathfinder’ program run by Incheon CCEI, offering three months of professional mentoring and access to various startup support initiatives.

Myeong-Hyeon Kim, CEO of Quazar, said, “We are excited to have secured investment from both institutions along with our selection for the Startup Pathfinder program. This funding will allow us to strengthen our global expansion strategy and enhance our solution’s accuracy to solidify our market leadership.”