Nutecompany, a South Korean startup managing ‘webudding’, has secured investment of KRW 2.5 billion from Goodnotes
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Nutecompany, a South Korean startup managing the digital stationery content platform ‘webudding’, has secured a strategic investment of KRW 2.5 billion from Goodnotes, a leading global note-taking app provider.
This investment is notably significant as it represents Goodnote’s inaugural venture into startup investments. Moreover, Nutecompany obtained an additional investment of KRW 200 million from Strong Ventures, a pre-Series A investor, amassing a total investment of KRW 5.7 billion.
Webbuding stands as the largest digital stationery service in Asia for tablet PC users, offering a variety of digital stationery content, including note-taking forms, diaries, drawings, sticker images, and brush files.
Goodnotes, serving as a strategic investor, is globally renowned as the premier note-taking app service, boasting over 21.5 million monthly active users worldwide. It earned the title of ‘iPad App of the Year’ by the Apple App Store in 2022, with around 1.9 billion digital notes crafted last year. As of last August, coinciding with the release of Goodnotes 6, the company evolved into the industry’s first to introduce generative AI for handwriting, becoming the world’s initial AI-based digital paper firm.
Nutecompany has been in alliance with Goodnotes since earlier this year and has been the exclusive supplier of webudding’s content. With this strategic investment, the company aspires to upgrade its mobile and tablet app services and concentrate on localizing services for diverse international users.
Due to the flourishing tablet PC and digital stationery sectors, Nutecompany witnessed a sales surge of approximately 220% from January to August this year compared to the corresponding period the previous year. Additionally, the webudding mobile app experienced a cumulative 30,000 downloads within one month of its July launch, rapidly climbing to 8th place in the overall App Store ranking.
Currently, around 2,500 creators are active on webudding, trading a total of 16,000 content pieces, with the cumulative content sales hitting approximately 200,000.
Steven Chan, founder and CEO of Goodnotes, emphasized the innovatory role of webudding in carving out a novel digital stationery market and its capability to draw thousands of proficient content creators globally. He acclaimed the synergy between the two companies, expressing delight in delivering superior quality digital stationery to their users. He added that Goodnotes’ insight into the international tablet market is anticipated to act as a catalyst for Weaverding’s global ascent.
Shin Dong-hwan, the CEO of Nutecompany, expressed contentment over establishing the foundation for international growth post confirming webudding’s foreign market potential through the partnership with Goodnotes earlier this year. He stressed reinforcing the collaboration with Goodnotes and voiced commitment to persist in evolving as an indispensable global digital stationery app for tablet PC users worldwide.
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