Establishment of a global growth foundation through investment attraction from ARC Group

SEOUL, SOUTH KOREA, January 29, 2024 /EINPresswire.com/ -- The artificial intelligence (AI) and big data specialist company B2EN is embarking on global investment with the ARC Group.

B2EN announced plans to establish a domestic joint venture corporation for the pet community platform 'XOOX Korea' and concurrently proceed with large-scale investment attraction through the ARC Group on the 29th.

The plan is to commence substantial investment attraction following detailed discussions on investment during the visit of key ARC Group personnel to Korea on the 30th.

The ARC Group is a global investment bank specializing in Nasdaq IPOs, mergers and acquisitions (M&A), capital raising, and business consulting. It operates 14 offices including New York, Mexico, Dubai, Shanghai, India, and Singapore. In particular, amid managing various investment instruments in emerging markets, it has completed investment transactions totaling approximately $8.4 billion in around 50 countries.

B2EN is collaborating with XOOX LAB Inc. US, the maker of the pet-specific app 'XOOX,' to focus on the consumer-value-centric market by combining information and communication technology (ICT) and biotech to target the "petconomy" global market.

The XOOX app is a Pet Life Platform, a social network service based on pets. In addition to sharing the daily lives of pets and communicating with followers, users can also participate in short-form content challenges via videos. This could potentially give rise to pet influencers. Furthermore, it provides various content exclusively for pets. In the most popular music app, users can select music tailored to their pets' preferences from over 3,000 tracks provided at a comfortable decibel level. In connection with this, plans are underway to release products that integrate pet-specific CCTV and speakers for providing tailored music through analysis of pet music genres and deep learning-based music preferences.

Specifically, B2EN, along with XOOX LAB Inc-Medi Cloud, plans to establish the Korean joint venture corporation 'XOOX Korea' to promote services such as pet DNA testing services including customized medical genetic database services based on pet DNA analysis, and pet-specific insurance services.

A B2EN official stated, "The global pet market, estimated to be worth 498 trillion won worldwide, is expected to grow rapidly from this year onwards," and added, "The investment agreement between B2EN, XOOX Korea, and the ARC Group is expected to draw attention to the petconomy market".

Kristen Kim
XOOX Lab, Inc.
+1 213-944-2679
press@xoox.pet

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