Published Date: August 20, 2020 ,Last modified on October 22nd, 2020

Creative Value Technology

CVT specializes in face recognition device to make your daily life more simple and secure with various solutions for an “untact” life.

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Highlights

  • Face recognition reader for access control, time and attendance and meal payment
  • Developed the face recognition reader for Samsung and KT telecop
  • Winner of the Ministry of Science and ICT Award in 2016 and 2018
  • Business cooperation partnership with Panasonic System Solutions Asia Pacific
  • Completed PoC with Hyundai Elevator for its smart untact elevator solution
  • Automobile solution TBD with Hyundai Motors
  • Raised around $1M including Lotte Accelerator, Industrial Bank of Korea, Plan H Ventures (Hoban Construction), Zero1 Accelerator (Hyundai Motors), Posco

Company Overview

CVT was established in 2015 under the mission to make life more simple and secure through face recognition technology. CVT is consisted of embedded access control/camera/chip design experts with an average of more than 20 years of experience and has been growing steadily through collaboration and various support from major corporations.

CVT’s Face A+ is a face recognition device for access control, time and attendance, and meal payment to simplify your everyday life. In particular, in the face of the COVID-19, CVT offers a variety of solutions that befits the untact lifestyle. We have completed PoC for a solution that recognizes the user’s face registered in the device, calls the elevator and guides them to the destination floor. We are also developing a face recognition kiosk that allows visitors to self-register in the system without having to go to the information desk. Furthermore, we are working on a face recognition doorbell for smart home solution to be launched next year with a construction company. As for the overseas expansion, we are providing products in collaboration with Panasonic to Southeast Asia, and we plan to actively sell products under development to overseas markets as well.”

Problem Overview

Solution Overview

Go-to-Market Strategy and Business Model

Competitive Landscape

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Founders' Bio

Woo Gyun Lee

CEO

Over 26 years of experience in the area. Started his career in Samsung where he worked on hardware, firmware, and software development of security system for home, bank, and buildings. Also developed device driver, communication implementation and alarm handling. In addition, he has experience working as SoC development team leader, commercializing domestic CDMA model applied products with LG Electronics. Furthermore, he specialized in the image processing algorithm development, developing the solution for character, face, and iris recognition

  • About Creative Value Technology
  • Website : cvtinc.co.kr
  • Location : Seoul, South Korea
  • Founded year : 2015
  • Company size : 15 people
  • Total funding amount: $0.8 Mil
  • Markets: ConstructionFace recognitionSecurity