INOX Signs Investment Contracts with Startups in 'Open Innovation Fifth Cohort'
INOX has signed investment contracts with two startups that were finally selected in the '2026 INNOX Open Innovation Fifth Cohort'.
According to INOX on August 6, Open Innovation is a strategic investment program collaboratively operated by INOX and the Gyeonggi Innovation Center. The program discovers startups with outstanding technological capabilities and provides proactive investment to support their growth.
The final selected companies are Xup and Testify. Xup develops Physical AI solutions by utilizing AI-based autonomous robots and an integrated control platform, providing smart maintenance services that combine AI and robotics technologies. Testify has developed 'VeriGEN', an AI solution validation (QA) automation platform based on its proprietary sLLM (Small Large Language Model), which can be applied even in closed network environments. The company possesses advanced technology to improve the reliability and quality of AI services.
INOX, which has consistently invested in AI startups, plans to continue discovering promising companies and supporting them with follow-up initiatives. It will also provide incubation space at its Pangyo headquarters to expand collaborations with tech firms, accelerating the discovery of new business opportunities and securing future growth engines. The Gyeonggi Innovation Center will also cooperate with INOX to help the startups scale up. Comprehensive support will include in-depth networking, strengthening IR capabilities, assistance to participate in global exhibitions such as CES 2027, incubation space, and entrepreneurship forums, all aiming to support investment attraction, business expansion, and global advancement.
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An official from INOX commented, "Recently, the proportion of sales from semiconductor packaging materials at INOX Advanced Materials has increased for five consecutive quarters, achieving business diversification, and INOX Lithium, too, has begun to generate substantial sales. Open Innovation will serve as a key bridgehead not only for strengthening core existing businesses, but also for expanding into future technology areas such as Physical AI."
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