Cranberry Develops AI System to Respond to Han River Water Accidents
Cranberry has developed an artificial intelligence system designed to detect danger signals such as the sound of someone entering the water or screams around Han River bridges and waterfront areas, analyze the location of an incident and dispatch autonomous flying drones equipped with lifesaving equipment.
βCranberry said Sept. 14 that the approach marks a shift from relying on existing closed-circuit television cameras or emergency reports to having AI detect accidents first and mobilize rescue equipment.
βCranberry is also developing a predictive-maintenance system with the Korea Environment Corporation to analyze abnormal sounds generated by intake pumps at water-treatment plants. The company is working with Korea East-West Power to develop a system for diagnosing abnormal conditions in valves used in power-generation equipment.
βCranberry's main market is currently public safety. The company has supplied intelligent acoustic-analysis devices to Eunpyeong-gu in Seoul, Gunsan City, Suyeong-gu in Busan, Jangseong County in South Jeolla Province and Uiseong County in North Gyeongsang Province. In the private sector, it has deployed systems at some Lotte Mart stores, Brighton Hannam and Hyundai Motor. Municipal-government projects account for about 60% of the company's total revenue, according to Cranberry.
βCranberry posted 5.3 billion won in revenue last year and has set a revenue target of 7.5 billion won for this year. The company plans to seek Series A funding to enhance its products and commercialize technologies demonstrated in the field.
βCranberry also plans to pursue an initial public offering over the medium to long term, aiming to validate its market this year, expand sales channels in 2027, turn its technology into a platform in 2028 and scale up its business in 2029, before targeting a KOSDAQ listing in 2030.