2024-11-25

[Interview] Lee Sang-hyoung, CEO

"Our fruit packaging automation robot automates the entire process, from washing and inspection to sorting and packaging. This maximizes farm efficiency while significantly reducing labor costs."

On the 12th, at Thoth’s office in Hanam, Gyeonggi Province, CEO Lee Sang-hyung introduced the company’s flagship custom automation solution, FruitPacker. Thoth, a startup known for its “waste battery disassembly automation” technology, is now expanding into the agricultural industry.

In an interview with The Better Future on the 12th, Thoth CEO Lee Sang-hyung stated, "Our vision is to help people work more easily, comfortably, and safely." 

Before founding Thoth, CEO Lee Sang-hyung worked as a senior researcher at the Korea Institute of Industrial Technology, where he encountered the struggles of small and medium-sized enterprises facing a lack of process automation technology and labor shortages. This motivated him to start his own business. With the desire to provide practical technology at an affordable price to help businesses, he established Thoth in 2021 with five colleagues from the Ph.D. program in Electronic and Computer Engineering at Hanyang University.

During the founding stage, while searching for an AI-based robotic automation technology that could address environmental issues, Thoth chose "waste battery recycling" as its primary focus. At the same time, the company received requests from local agricultural cooperatives to explore automation solutions, which led to the development of its "packaging automation solution."

◇ Maximizing Efficiency with FruitPacker … Reducing Labor Costs and Errors

One of Thoth’s core technologies, RAAPS (Robot AI-based Autonomous Programming Solution), allows robots to automatically perform tasks by converting actions demonstrated by operators into functions. Using a physics engine-based simulator, the system learns from various scenarios to exhibit high adaptability in real work environments. For example, when a person demonstrates pouring water into a cup, the robot learns the precise position and movements required to pour the water, then generates a function based on these actions. This function is then used to create data that can be adapted to different situations.

The FruitPacker equipped with RAAPS integrates tasks such as washing, quality inspection, weight combination, and packaging.

The FruitPacker equipped with RAAPS integrates tasks such as washing, quality inspection, weight combination, and packaging. This robot can package up to 12 fruits per minute and utilizes weight sensors and vision cameras to ensure quality inspection and uniform packaging. CEO Lee explained, "Through FruitPacker, we have measured a 71.67% reduction in labor costs and an 84.61% decrease in weight combination errors."

◇ Expanding Business through Finished Product Sales and Hub Center Services

Thoth's business model is divided into the sale of automation robot finished products and hub center services. The hub center service involves purchasing factories, installing Thoth’s products, and either operating them directly or leasing them out. Currently, in the waste battery disassembly automation field, Thoth is in POC and contract stages with three large companies, including Jeju Technopark and Jeonbuk Technopark.

To expand into the agricultural automation sector, Thoth participated in the Sopoong Ventures NH Best X program this year. CEO Lee said, "Through the program, we've visited several agricultural cooperative logistics centers to listen to on-site needs and focus on product improvements. There has been significant demand for affordable prices, so we are developing a more cost-effective version."

Thoth has raised approximately 6.5 billion KRW in Series A funding this year and plans to expand its business through Series B investments next year. Additionally, the company has received attention by winning CES 2024 and 2025 Innovation Awards, as well as the Ministry of Science and ICT Minister's Award.

This year, Thoth has successfully commercialized about 20 products, including waste battery disassembly robots and fruit packaging robots. Building on this, the company expects to expand its finished product sales and rental programs next year.

"Thoth’s vision is not to replace human jobs, but to help people work more easily, comfortably, and safely."

Yuhyun Jo, Futurechosun Reporter https://www.futurechosun.com/archives/107522