[Korean Startup Weekly News #20] NARA SPACE Secures Series B Funding, Plans IPO and Expands Microsatellite Operations

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Period : May 27th – June 2nd, 2024

Headline

NARA SPACE Secures Series B Funding, Plans IPO and Expands Microsatellite Operations
Korean startup NARA SPACE secured Series B funding, planning an IPO and satellite expansion, including launching ‘Observer 1A’ and developing environmental satellites for methane monitoring.

Korean Government News

Korea and UAE Establish Ministerial Committee to Boost SME and Startup Collaboration
Korea and UAE established a ministerial committee to enhance SME and startup cooperation, including trade events and investment initiatives, to support mutual exchange and global market entry.

KITA Highlights Robust Growth in Korean Startup Exports, with Annual Increase of 43.8%
The Korea International Trade Association (KITA) reports substantial growth in startup exports, with an average annual increase of 43.8%, highlighting the necessity for targeted policies that support validation and market readiness.

MSS and KISED, “Korean Startups Achieve Significant Milestones at VIVA TECH 2024”
At VIVA TECH 2024 in Paris, South Korea’s MSS and KISED showcased 17 startups in the K-STARTUP pavilion, securing 11 MOUs, a PoC, and an LOI, marking significant achievements.

Latest Funding News

Check out the latest funding news for Korean startups

FreeGrow Secures 1.5 Billion KRW in Series A for Indoor Navigation Expansion
Busan-based Korean startup FreeGrow secures 1.5 billion KRW investment from BNK Venture Investment for indoor navigation systems development and market expansion.

CHEQUER Secures Strategic Investment from Shinhan Venture to Advance Cloud Security Platform
Korean startup CHEQUER secured strategic investment from Shinhan Venture Investment to accelerate its expansion into Japan with the ‘QueryPie’ cloud security platform.

Welfare Union Gains Series A Funding from MYSC for Senior Care Nutrition
Korean startup Welfare Union secured Series A funding to enhance its meal services and expand its nutritional care platform, aiming to improve life quality for the elderly and disabled.

LOSH KOREA’s ‘ONEW’ Secures pre-Series A to Expand Senior Lifestyle Brand
LOSH KOREA’s ‘ONEW‘ secures pre-Series A and follow-up investments to expand its senior lifestyle brand, enhancing online accessibility and creating extensive offline activity hubs for active seniors.

Eoding Secures Strategic Investment from Hyundai Marine & Fire Insurance to Enhance Traveltech
Eoding, a South Korean traveltech platform, has secured strategic investment from Hyundai Marine & Fire Insurance to enhance its technology and expand globally, further digitizing travel agency operations.

MyIB Secures Second Seed Investment from Bigbang Angels to Advance ‘Give & Match’ Platform
MyIB secures a second seed investment from Bigbang Angels to advance ‘Give & Match,’ a platform for corporate matching gift programs, enhancing ESG and social contributions.

ZETCITI Secures Investment for Real-Time Pop-Up Map Platform PREZEM
ZETCITI’s PREZEM, a live map platform for real-time hotspots, has received investment from The Yoonmin Foundation, aiming to provide immediate location-based information.

Starseed Secures Pre-Seed Investment for AI-Powered PR SaaS ‘Pulitzer AI’
Korean startup Starseed secures pre-seed funding to enhance ‘Pulitzer AI,‘ an AI-based PR tool that generates multilingual press releases and images in 10 seconds.

‘Onoma AI’ Selected for KODIT’s First Penguin, Enhancing Webtoon Production with Gen-AI
Onoma AI, a Korean generative AI startup, has been selected for KODIT’s First Penguin program, aiming to enhance its webtoon services and expand globally this year.

Korean Startup Interview

Meet startups that are striving for global expansion through exclusive interviews

[Korean Startup Interview] Cheongse ‘Dream of Becoming the KOLMAR KOREA and COSMAX of Industrial Cleaner ODMs’
Korean company Cheongse is an ambitious and innovative startup, aspiring to achieve the status of companies like KOLMAR and COSMAX in the industrial detergent ODM sector.

[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 Venture Capital News

Bigbang Angels Joins Korea-UAE Business Investment Forum to Expand Startup Opportunities
Bigbang Angels participated in the Korea-UAE Business Forum, discussing cooperation and expansion opportunities for Korean startups in the Middle East with key partners.

Others

Saudi Data & AI Authority Officials Visit Kakao Mobility to Explore Future Mobility Collaborations
A delegation from the Saudi Data & AI Authority visited Kakao Mobility’s headquarters to discuss potential collaborations and explore innovative, AI-driven future mobility technologies and services.

BIGC Partners with ConnectedStage to Expand Global K-Pop Concerts and Digital IP, Starting With Japan
BIGC, a Korean entertainment startup, partners with Connected Stage to co-host K-pop concerts in Asia, expand digital IP business, and innovate global concert experiences, starting with Japan.

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[Korean Startup Weekly News #20] NARA SPACE Secures Series B Funding, Plans IPO and Expands Microsatellite Operations

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[Korean Startup Weekly News #20] NARA SPACE Secures Series B Funding, Plans IPO and Expands Microsatellite Operations