FirstLab Secures 3.1 Billion KRW Investment for Ultrasonic Focusing Technology, Accelerates Global Expansion
FirstLab, a startup specializing in water treatment equipment based on ultrasonic focusing technology, announced on November 7 that it had secured a pre-Series A bridge investment of 3.1 billion KRW from IBK Venture Investment, Medici Investment, and others.
Established in 2022 as a research institute spin-off from the Korea Research Institute of Standards and Science, FirstLab developed 'CAVITOX', a water treatment device that decomposes PFAS (per- and polyfluoroalkyl substances) toxins using ultrasonic focusing technology.
PFAS are substances used in a wide range of industries, including semiconductors, secondary batteries, pharmaceuticals, and textiles. Also known as Teflon, even trace amounts can accumulate in the human body and are not expelled, thereby increasing the risk of cancer. The European Union, the United States, and Japan have already implemented strong regulations and are planning additional restrictions. The problem is that, aside from incineration, there is no method to decompose PFAS, and there are no substitute materials available.
FirstLab’s CAVITOX has attracted attention as a technology capable of efficiently decomposing these substances. The company recently established a Japanese subsidiary and, in collaboration with Hyundai Corporation's German branch, is setting up a demonstration room in Frankfurt, Germany. In the first half of next year, pilot tests will be conducted with global pharmaceutical companies, major Japanese corporations, and European water treatment firms.
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With this investment, FirstLab plans to accelerate its entry into the Japanese and European markets. The company is already collaborating with several global and Japanese conglomerates and has completed equipment exports. Hwang Bo Minseong, CEO of FirstLab, stated, "This investment is a recognition of our core technology that can address global environmental regulations," adding, "Starting with Japan and Europe, we will accelerate our expansion into the global market."
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