WigoFair secures 1 billion KRW investment from Albatross Investment

WigoFair, an AI-based platform for monitoring and enforcing against counterfeit products, has successfully secured an investment of 1 billion KRW from Albatross Investment. This funding aims to enhance AI technology and expand operations in Japan and Europe, marking a significant step in their global market strategy.

Founded in 2020, WigoFair operates a brand protection platform that identifies and reports counterfeit goods on online shopping malls and social media. The platform employs a crawler to automatically gather product and seller information, and uses AI image analysis to identify suspicious items. It is designed to automate reporting procedures across various online platforms and manage enforcement progress.

To date, WigoFair has secured over 100 brand clients, primarily in the fashion and beauty sectors. The company has recently improved its database to track counterfeit sellers who change seller information or accounts, as well as introduced a feature for test purchases in response to beauty product counterfeiting.

Albatross Investment emphasized the growing need for brand protection technology as online counterfeit products circulate across multiple platforms and countries. WigoFair plans to leverage its experience in combating counterfeiting on online platforms in China and Southeast Asia to serve international clients.

Reported by StartupN.