• Stay informed about the latest news in the Korean startup ecosystem every monday.
• 한국어 스타트업뉴스는 여기를 참고하세요.(Click here for daily startup news in Korean)
• Period : Mar 11st – Mar 17th, 2024

Headline

LG Electronics Paves the Way for Service Robotics Growth with Bear Robotics Investment
LG’s $60 million investment in Bear Robotics aligns with its shift to Software-defined Robotics, focusing on open architecture software platforms for scalable service robots.

Korean Government News

OpenAI Selects 10 Korean Startups for AI Support Program
MSS of Korea held a final evaluation event ‘K-Startup & OpenAI Matching Day in the US‘ for startups to collaborate with OpenAI, aiming to foster Korean AI startups globally.

Korea’s MSS Offers Up to KRW 100 Million for Small Businesses Eyeing Global Expansion by April 12
South Korea’s Ministry of SMEs and Startups recruits businesses for a global expansion support program, offering up to KRW 100 million in aid until April 12th.

MSS of Korea Initiates Global Acceleration Program for Female Entrepreneurs
Korea’s MSS introduces a global acceleration program for female entrepreneurs, offering education, consulting, and support for overseas expansion, aiming to enhance their global market presence.

Latest Funding News

Check out the latest funding news for Korean startups

Algocare Raises KRW 15B in Series A to Fuel AI Healthcare Growth
Algocare, a South Korean AI healthcare startup, secured a KRW 15 billion Series A investment, aiming to expand its personalized nutrition management services and B2B market presence.

Promedius Secures KRW 11.2 Billion in Series A Funding for Medical AI Advancements
South Korean medical AI startup, Promedius, secures KRW 11.2 billion in Series A funding, led by Stassets Investment, bringing total investments to over KRW 13.5 billion.

Colosseum Advances Global Logistics with Strategic Investment from Hyosung Ventures
South Korean logistics partner Colosseum receives strategic investment from Hyosung Ventures, aiming to optimize processes for overseas subsidiaries and expand collaboration.

ULIFT Raises Series A funding for Expansion of Innovative Mobile Coding Education Platform
ULIFT, a Korean mobile coding education company, secures KRW 4 billion in Series A funding, aiming to enhance its app ‘Coding Valley’ and expand into global markets.

TestBank’s Solve Platform Gains KRW 2.3 Billion in Pre-Series A Funding
TestBank’s Solve, a digital textbook service, receives KRW 2.3 billion in pre-Series A funding from investors, including Shinhan Capital and Quantum Ventures Korea.

RNR LAB Raises KRW 1.8 Billion for Advanced Semiconductor Tech
RNR LAB, a Korean startup incubated by Gyeonggi CCEI, secured KRW 1.8 billion from KCLAVIS Investment. Focusing on next-gen semiconductor tech, it plans for global market leadership and a 2027 IPO.

• PLUME.D Secures Pre-Series A Funding to Advance AI-Based Motion Recognition Tech
• Clify Secures 1.2B KRW funding for Mental Healthcare Counseling & AI Matching
• Vagelchips Secures 300 million KRW Seed Funding to Expand AI Contact Center Solutions
• Captainbong Attracts KRW 250M Investment for Growth from Jeonbuk Venture Innovation Fund No.1

Korean Startup Interview

Meet startups that are striving for global expansion through exclusive interviews

Eflow: Pioneering the Future of Micromobility with Advanced AFPM Technology
Eflow, a Korean mobility startup, leverages innovative AFPM motor technology to revolutionize micromobility, enhancing efficiency and performance, and seeks investments to expand its presence in the global market.

Korean Venture Capital News

Primer’s 23rd Demo Day Showcases 11 Teams to Over 1,400 Attendees
The 23rd Demo Day by Korean accelerator Primer, in collaboration with Seed TIPS, showcased 11 teams and attracted over 1,400 participants, emphasizing startup incubation and investment. 

Gyeonggi CCEI and Asia2G Capital Sign MOU to Globalize Korea’s Startup Ecosystem
Gyeonggi CCEI partners with Asia2G Capital to invest in startups, aiming to globalize Korea’s startup ecosystem through co-investments, overseas expansion support, and Silicon Valley insights.

Others

Korea’s Angelswing Wins Top Tech Award at LEAP 2024 in Saudi Arabia
Angelswing, a Korean con-tech company, won the ‘Technology for Humanity Award’ at LEAP 2024 in Saudi Arabia, showcasing their advancements in digital twin technology for smart construction and smart cities.

• Yanolja Launches US Office as Part of Global Expansion, Eyes North American Market
• Korea’s Edutech Firm YAHO LAB Chosen for Singapore’s ‘EduSpaze’ Startup Program
• VUNO Partners with Sedecal for Global AI X-ray Solution Rollout