EPIKAR Inc - Comprehensive Analysis Report

Summary

EPIKAR Inc., established in 2016 and based in Seoul, South Korea, specializes in AI and cloud-driven vehicle telematics solutions. The company aims to create an "Automobile Total e-Commerce Platform" to enhance customer experiences and transform the automotive market through digitalization. EPIKAR seeks to deliver value to customers and businesses through its expertise in digital solutions.

1. Strategic Focus & Objectives

Core Objectives

EPIKAR's main objective is to offer data-driven digital solutions to automobile dealers, intending to streamline car sales, reduce operational costs, and improve customer experience.

The company is focused on B2B sales and distribution of its digital solutions, with goals to establish partnerships with auto dealers globally and expand into international markets.

Specialization Areas

EPIKAR specializes in providing digital solutions in the automotive sector, focusing on visual publishing, vehicle data, scoring, marketing, and fleet management.

Their expertise lies in using machine learning and big data analytics to provide insights and solutions.

Target Markets

EPIKAR primarily targets automobile dealers, offering solutions that enhance their sales and operational processes.

The company also focuses on expanding its services to overseas markets, including the US and Asia.

2. Financial Overview

Funding History

EPIKAR has raised an undisclosed amount in funding from one round.

The latest funding round was a Series A round on December 15, 2022.

Key investors include the Korean Development Bank and Seoul Global Startup Center.

The funds are allocated to upgrade the digital solutions platform and strengthen infrastructure for B2B sales and distribution.

3. Product Pipeline

Key Products/Services

EPIKshowroom: An immersive digital showroom service that allows customers to access vehicle information online.

Test Drive Solution: Provides real-time data management for test drive reservations and tracking, offering analysis and insights for sales and marketing.

EPIK PAY: A payment system specialized for the automotive market, enabling convenient transactions.

PIKAR: A vehicle delivery service with reservation and real-time tracking features.

Digital Workshop System: Monitors the entire vehicle journey from warehousing to shipping, tracking service status and vehicle location.

VSP (Vehicle Service Pass) Voucher: A marketing tool that enhances customer engagement and brand loyalty.

4. Technology & Innovation

Technology Stack

EPIKAR utilizes AI and cloud technology to deliver vehicle telematics solutions.

The company's platform is designed with functional modularity, which allows services to be combined without additional installation costs and delivers convenience in maintenance.

They leverage machine learning and big data analysis to provide various solutions.

5. Leadership & Management

Executive Team

Bosuk Han: Chief Executive Officer. He has experience in vehicle sales and management systems, data science, vehicle engineering, and big data analysis, and he previously worked at BMW Korea as Manager.

Sunghoon Kim: Chief Marketing Officer/Co-Founder.

Youngseung Chang: Chief Strategy Officer/Co-Founder. Previously served as CEO of SBA (Seoul Business Agency).

Jaehyeok Park: Chief Finance Officer.

Peter Kong: Chief Product Officer.

Kihyung Park: Chief Operating Officer.

Kong Kyoung Rok: Investment Advisor.

Kwanmin Lee: Chief Scientific Advisor.

Jeongmin Yoo: Senior Manager.

6. Competitive Analysis

Major Competitors

EPIKAR's competitors include Upstart, Reynolds and Reynolds, and Tekion.

7. Market Analysis

Market Overview

EPIKAR operates in the vehicle telematics and digital solutions market, which has growth potential due to the increasing demand for digital transformation in the automotive industry.

8. Strategic Partnerships

BMW Korea: EPIKAR's solutions have been introduced to BMW Korea and seven official BMW dealers to provide mobile services for operations from advance bookings to test drives.