[Korean Startup Weekly News #14] Upstage Secures 100B KRW to Fuel for Global Expansion in Gen AI

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Period : Apr 15th – Apr 21st, 2024

Headline

Upstage Secures 100B KRW to Fuel for Global Expansion and Advancements in Generative AI
Upstage, a South Korean AI startup, has raised KRW 100 billion in Series B funding to advance its Document AI and proprietary LLM, Solar, enhancing its global competitiveness.

Korean Government News

Seoul Metropolitan Government Initiates Program to Support Startups in Achieving Global Growth
Seoul Metropolitan Government launches a KRW 4.4 billion initiative to help startups expand globally and become unicorns through comprehensive support and market entry assistance.

MSS and MoFA of Korea Launch Consultative Bodies for Global SME Support
The Korean MSS and MoFA established a consultative body at four diplomatic missions to support the global expansion and competitiveness of Korean SMEs and startups, planning further global initiatives.

SBA and SDF Seek Companies for 2024 Paris MAISON&OBJET Fair
The Seoul Business Agency and Seoul Design Foundation are recruiting 25 design SMEs for the 2024 Paris MAISON&OBJET Fair to showcase Seoul’s design and lifestyle products globally.

Latest Funding News

Check out the latest funding news for Korean startups

Bizplay Secures 3B KRW from Yanolja for Strategic Travel Services Collaboration
Bizplay, a Korean startup, secured KRW 3 billion from Yanolja to enhance business travel services through strategic collaboration, aiming to provide superior, competitive solutions.

Goifuneral Raises KRW 2.5 Billion to Revolutionize Korean Funeral Services
Goifuneral, a Korean company advocating for transparent funerals, secured KRW 2.5 billion in pre-Series A funding to digitally transform and improve transparency in the funeral service market.

Apollon Secures 2.3 Billion KRW in Funding for Innovative Needle-Free CGM Technology
Apollon, a Korean biotech startup, raised 2.3 billion KRW for its needle-free CGM technology, secured multiple patents, and is preparing for U.S. FDA approval.

Glorang Secures Strategic Investment for Talent Tech from Tokyo Broadcasting System
Glorang, a Korean talent tech company, secured a strategic investment from Tokyo Broadcasting System to expand its AI diagnostic education services and enter the Japanese market.

Halfmore Raises 1.5 Billion KRW in Pre-Seed Funding for Fintech Platform
Silicon Valley fintech startup Halfmore raised 1.5 B KRW from Draper Associates and Krew Capital to democratize wealth management for average American households using AI technology.

Korean Hair Care Brand Narka Secures Pre-Series A Funding to Target Asian Market
Korean hair care brand Narka, operated by Uncmhm, has raised pre-Series A funding to expand its hair repair solutions and enhance branding, aiming to resonate with Asian consumers.

StyleBot: South Korean AI Fashion Service Secures Investment Boost
South Korean AI fashion service StyleBot gets funding boost from Ideabridge Partners after pre-Series A round in March

Korean Startup Interview

Meet startups that are striving for global expansion through exclusive interviews

[Korean Startup Interview] TCMS : Boosting EV Battery Separator Safety with Innovative Technology, Eyeing for Global Expansion

Korean company TCMS develops innovative “stretching clips” to produce safer and more efficient EV battery separators, aiming for significant impact in the global battery industry.

Others

Beyond Music Acquires Rights from Grammy Winner Yandel, Expands into Latin Music Market
Beyond Music, a Korean IP investment firm, acquired rights from Latin musician Yandel, expanding into the Latin Music market and planning to connect it with Asian music for global synergy.

ONDA Hits KRW 48.4 Billion in Q1 2024 Transactions, Predicts Rapid Growth
Korean hospitality tech company ONDA’s Q1 2024 transactions soared to KRW 48.4 billion, a 36% increase, driven by strong room distribution services and significantly reduced operational losses.

Lunit’s Acquisition of Volpara Approved by Overwhelming Majority at Shareholder Meeting
Lunit, a Korean medical AI company, announced that the acquisition of Volpara Health Technologies was approved at the shareholder meeting, aiming to expand in the U.S. market.

Wefun Acquires Nextcnc to Expand B2B Services and Strengthen Market Leadership
Wefun, a South Korean B2B platform, has acquired Nextcnc to diversify its coffee services and strengthen its market position, aiming for leadership through enhanced offerings and digital transformation.

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[Korean Startup Weekly News]

와우테일(WOWTALE)

[Korean Startup Weekly News #14] Upstage Secures 100B KRW to Fuel for Global Expansion in Gen AI

버섯돌이(Taehyun Kim)

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[Korean Startup Weekly News #14] Upstage Secures 100B KRW to Fuel for Global Expansion in Gen AI