Global Brain has invested as the lead investor in Essen Co., Ltd., a startup offering a vehicle advertising platform called "WithDrive" that visualizes advertising effectiveness using AI

Global Brain has invested as the lead investor in Essen Co., Ltd. (Essen), a startup offering a vehicle advertising platform called "WithDrive" that visualizes advertising effectiveness using AI, through Shinhan-GB FutureFlow Fund L.P. (SHGB) that is jointly managed with Shinhan Venture Investment Co., Ltd. (Shinhan Venture Investment).

Based on the concept of "bringing value to mobility,” Essen runs a vehicle wrap advertising business that uses AI and data obtained from moving vehicles to measure advertising effectiveness. Its “WithDrive” platform connects companies seeking to place ads on vehicles with drivers willing to put ads on their cars and visualizes the effectiveness of vehicle wrap advertising using AI, creating new value that enable advertisers to effectively reach the audience they were unable to influence with online ads and helping drivers to increase their revenue.

With the funds raised in this round, Essen will hire new talent to expand the vehicle wrap advertising business and foster partnerships with companies that have fleet drivers. The startup also plans to create a new business model that leverages mobility data obtained from the existing business.

Global Brain has decided to invest in Essen because of its management team's strengths in data analysis and AI development, as well as the potential of its rapidly digitalizing vehicle wrap advertising business and its platform that utilizes mobility data. Through this investment, Global Brain will actively support Essen in many areas along with Shinhan Venture Investment to contribute to the further growth of Essen's business.