[Korean Startup Weekly News #21] Twelve Labs Raises $50 Million Series A to Build the Future of Multimodal AI and Video Understanding

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Period : June 3rd – June 9th, 2024

Headline

Twelve Labs Earns $50 Million Series A to Build the Future of Multimodal AI and Video Understanding
Twelve Labs raised $50 million in Series A funding to develop its video understanding models and multimodal AI. The funding will support R&D, hiring, and collaborations with NVIDIA.

MSS Hosts ‘2024 Korea-Africa Youth Startup Forum’ to Foster Collaboration and Exchange
The 2024 Korea-Africa Youth Startup Forum, organized by Korea’s MSS, promoted policy exchanges and collaborative strategies among startups, drawing key stakeholders from both regions.

Check out the latest funding news for Korean startups

WRTN Technologies Secures 25 B KRW in Pre-Series B Funding to Fuel Global AI Expansion
WRTN Technologies, a Korean generative AI company, has secured KRW 25 billion in pre-Series B funding from global investors to expand its AI services and enhance technology worldwide.

Polaris3D Secures 15 Billion KRW for Global Expansion of AI Autonomous Robots
Polaris3D, a South Korean autonomous robot manufacturer, raised 15 billion KRW in Series B funding. They plan to expand globally with their proprietary AI solutions, including serving, delivery, and logistics robots.

JeCLEAN Secures Series A Funding from DVP to Advance Sustainable Textile Recycling
JeCLEAN, a climate tech startup from Jeju Island, secured Series A funding from Daedeok Venture Partners to enhance its eco-friendly textile recycling solutions and expand its market presence internationally.

Korean HR Tech Startup D.WHALE Secures Series A Funding for ‘CLAP’ Platform
Korean startup D.WHALE secured Series A funding to expand its modular SaaS-based HR management platform ‘CLAP,’ which enhances performance evaluations and employee retention for over 1,000 companies.

CE-TEK Secures 900 Million KRW Pre-Series A to Advance Carbon Capture Technology
Korean startup CE-TEK secured 900 million KRW in funding to commercialize innovative carbon capture technology, reduce regeneration energy, and accelerate pilot projects for ship carbon capture.

Spotlite Global Secures KRW 800M for Model Booking, Eyes Southeast Asian Market
Spotlite Global, a South Korean model booking platform, secured KRW 800 million in investments and aims to expand into Southeast Asia using AI-enhanced booking technology.

LSBIO Secures Funding and Selected for TIPS to Advance Natural Antidiabetic Drug Development
South Korean startup LSBIO secured funding to expand antidiabetic drug development and health food products, aiming for groundbreaking natural treatments by 2025.

AgeFree Secures Seed Investment for ‘1000jobs’ Midlife Career Education Platform
South Korean startup AgeFree secures seed investment for midlife career education platform ‘1000jobs’, aiming to address senior employment challenges.

Sonuvis Receives Seed Investment to Advance AI-Based Diagnostic Software
Sonuvis, a South Korean AI software firm, received seed funding from Series Ventures to develop and enhance industrial diagnostic and predictive technologies using advanced sensors.

Meet startups that are striving for global expansion through exclusive interviews

[Korean Startup Interview] FUST Lab ‘Revolutionizing Industrial Emulsification and Dispersion with Focused Ultrasonic Tech’
FUST Lab developed focused ultrasonic technology to enhance emulsification and dispersion, offering an eco-friendly alternative to traditional surfactants and promising industry revolution.

[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.

QSIMPLUS Selected for First Penguin Program, Aiming for Global Quantum Tech Leadership
QSIMPLUS, a Korean quantum communication startup, wins recognition in KODIT’s First Penguin program, securing support for its innovative technology and global market ambitions.

SOL Bio Partners with Jinan Lab to Expand into China and Exchange Exosome Tech
Korean biotech SOL Bio partners with Jinan Medical in China to expand and exchange advanced exosome technologies, accelerating its entry into the Chinese market.