Aigement, a Korean company that offers “Al-mighty,” an AI solution supporting manufacturers in purchasing, has secured seed investment from TheVentures. Established in July 2023, Aigement launched this solution earlier this year to help reduce procurement costs. CEO Shin-Hyuk Cho, who previously worked at the consulting firm Nemo Partners, observed common challenges faced by clients, which led him to start his own company.

Almighty provides a suite of tools to help manufacturers cut down on purchasing costs and enhance the ease of their purchasing operations. Aigement stated, “We’ve greatly increased work efficiency by automating key tasks in purchasing, such as closing, ordering, and requesting quotes—tasks that usually take the most time.”

TheVentures, the investor, commented, “The advantage of Al-mighty is its ability to suggest ways to lower a company’s purchasing costs at a much lower price than outside consulting,” adding, “Al-mighty will serve as a valuable alternative to traditional consulting services in the market.” This was the reasoning behind their investment.

Kim Cheol-woo, CEO of TheVentures, emphasized, “Since this service is essential across many manufacturing sectors, we’ll actively support Aigement’s expansion domestically and internationally,” and added, “We’ll continue providing necessary follow-up support to foster their growth beyond the seed stage.”

CEO Shin-Hyuk Cho of Aigement said, “We expect Al-mighty to help lower procurement costs across various manufacturing industries,” adding, “We will enhance our services further with the funds raised through this seed investment.”