All Bio-HealthCare Funding Startup News in Korea (Korean Startup News)

LabInCube Raises KRW 5.1B in Series A for MOF Material Development

2024-04-04 2 min read


LabInCube Raises KRW 5.1B in Series A for MOF Material Development

Reading Time: 2 minutes

LabInCube, a startup subsidiary of Sookmyung Women’s University’s Technology Holdings, has successfully raised KRW 5.1 billion in a Series A funding round. This funding round saw participation from Korea Investment Partners, Union Investment Partners, and BNH Investment. LabInCube intends to utilize these funds to attract top talent, further product development, and invest in expanding its manufacturing infrastructure.

Established in 2021 by Professor Choi Kyung-min from the Department of Chemical and Biomolecular Engineering at Sookmyung Women’s University, LabInCube specializes in developing porous new materials using metal-organic frameworks (MOFs). It possesses the Incube platform, a proprietary technology that allows for the selective absorption, protection, and release of various target substances by adjusting the spacing between molecules.

Despite the growing demand for MOFs, known for their superior storage, separation, and capture capabilities, actual production has been limited due to challenges in technology validation and cost adjustment. LabInCube has been rapidly advancing by overcoming these hurdles and achieving commercialization through its Incube platform.

LabInCube is currently developing a range of new material-related products utilizing the Incube platform. These include special gas capture/separation systems, filters for harmful gas removal, dehumidifying filters, and medical devices for cosmetic surgery and regenerative medicines. Sookmyung Women’s University has recognized LabInCube as a “Sookmyung Spark-Ups” startup, supporting it in fundraising and joint technology development.

LabInCube is actively seeking to expand the application of its Incube platform technology into various industries, including industrial filters, home appliances, and beauty, through discussions with multiple domestic and international companies.

Choi Kyung-min, the CEO of LabInCube, expressed that this investment round will significantly accelerate LabInCube’s growth, positioning it as a global technology leader.

[Korean bioHealth Startups News]

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