• 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 : May 13rd – May 19th, 2024

Headline

South Korea Reports 6% and 42% Growth in Venture Investments and Funds Early in 2024
In early 2024, South Korea experienced a 6% increase in venture investments and a 42% rise in funds, fueled by robust growth in deep tech sectors and targeted government initiatives.

Korean Government News

South Korea’s Startup Landscape Gets a Boost with FSC’s KRW 15.4 Trillion Investment
South Korea’s FSC boosts startup investment by 30% to KRW 15.4 trillion, prioritizing early-stage startups and regional development. Collaboration with ministries aims to expand overseas investment opportunities for Korean startups.

South Korea and ASEAN Host 8th Startup Policy Dialogue in Jakarta, Indonesia
South Korea and ASEAN discussed enhancing their startup ecosystem in Jakarta, focusing on advancing a collaborative policy roadmap and specific projects like the Unicorn Fostering Project.

Ministry of SMEs and Startups Opens ‘KSC Tokyo’ to Aid Korean Startups in Japan
The Ministry SMEs and Startups(MSS) of Korea opened ‘K-Startup Center Tokyo’ to support Korean startups entering Japan, offering services like office space and networking.

Gyeonggi Province and GCA Launches KRW 60 Billoin Fund to Boost Local Content
Gyeonggi Province and GCA in Korea has launched a KRW 60 billion fund, NEXEED 5·6, to support the local content industry and bolster investment in Korean content startups.

Latest Funding News

Check out the latest funding news for Korean startups

MedInTech Secures 20 billion KRW Series B Investment for Innovative Medical Endoscope
Korean startup MedinTech secures 20 billion KRW Series B investment for its innovative medical smart endoscope, with plans for establishing a mass production system and global market expansion.

December & Company Boosts Fint AI Robo-Advisor with Significant New Investment
December & Company, a Korean firm operating the Fint AI robo-advisor, secured a significant investment, enhancing services and aiming to dominate the upcoming retirement pension market.

‘LIVE X’ Secures 6 Billion KRW Series A Funding to Drive Innovation in Beauty Tech
Korean Beautytech startup LIVE X raised 6 billion KRW in Series A funding to enhance services, recruit talent, and expand internationally, reflecting strong market growth and innovation.

RAPEECH Secures 6 Billion KRW Investment to Lead Conversational AI Market and Launch New Services
RAPEECH, a Korean conversational AI company, secured a 6 billion KRW investment to support R&D and new services, aiming to lead the AICC market.

DeepSales Secures 2 Billion KRW Pre-Series A Investment, Eyes Global Expansion
DeepSales, a sales intelligence Korean startup, secures 2 billion KRW pre-Series A investment, aims for global growth with advanced sales AI technology.

SCON Secures Pre-Series A Funding to Expand Global VTuber Ventures
SCON, a Korean VTuber startup, secured KRW 2 billion in funding to develop new VTuber IPs and expand internationally, focusing on group VTubers and strategic partnerships with SM Entertainment.

Phytoresearch Secures Seed Investment for Advanced Seedling Foundry
Phytoresearch, a Korean startup, attracted seed investment for its innovative tissue culture technology, producing high-quality, disease-free seedlings and expanding production capabilities.

HORANG EDU Secures Seed Funding to Enhance AI-Powered Korean Coding Education
HORANG EDU, a Korean edutech startup, secured seed funding to expand its AI coding platform that teaches coding in Korean, making it easier and more accessible.

Korean Startup Interview

Meet startups that are striving for global expansion through exclusive interviews

[Korean Startup Interview] EARTHFORM : Eco-Friendly Packaging and Buffering Material Production Using Mushroom Mycelium and Agricultural Byproducts
EARTHFORM pioneers eco-friendly packaging using mushroom mycelium, aiming to replace Styrofoam with compostable materials, targeting growth in the expanding green market.

[Korean Startup Interview] Granter: A Customer-Centric SaaS Startup with Rapid Growth in Finance Management
Granter, founded by ex-Samsung engineer Youngin Lee, is a customer-centric SaaS startup rapidly growing by providing intuitive finance and accounting software for small businesses and startups.

Korean Venture Capital News

The Invention Lab Completed pre-Series A investment for FutureGate and dSPECTER
The Invention Lab, a Korean accelerator,  invests in FutureGate and dSPECTER, focusing on AI unmanned shelves and quadrupedal walking robots respectively. 

Others

Bemyfriends’ Fandom Platform ‘b.stage’ Surpasses 1 Million Monthly Active Users
Korean company Bemyfriends’ fandom platform ‘b.stage’ has surpassed 1 million MAU, expanding its global fandom business with diverse features and high retention two years post-launch.