Stay informed about the latest news in the Korean startup ecosystem every monday. 한국어 스타트업뉴스는 여기 를 참고하세요.(Click here for daily startup news in Korean) Period : July 1st – July 7th, 2024 Headline
MSS has chosen 50 baby unicorns and 15 preliminary unicorns that will grow into global unicorn companies The MSS of Korea selected 50 baby unicorns and 15 preliminary unicorns to foster into global leaders, providing financial support and strategic partnerships for global market entry.
Korean Government News
Korea’s New $115 Million Fund Aims to Propel Startups Worldwide Korea’s Ministry of SMEs and Startups launched a KRW 150 billion (USD 115 million) Global Fund for 2024 to boost Korean startups’ global growth.
MSS of South Korea Signs 2 Key MOUs to Boost Ventures and Startups with Vietnam The Korean Ministry of SMEs and Startups (MSS) signed MOUs with Vietnam to establish a venture committee and enhance the startup ecosystem, fostering cooperation and innovation between both countries.
Seoul Bio Hub and Roche Diagnostics Collaborate for Startup Sprint Demo Day in Seoul The Seoul Bio Hub, in collaboration with Roche Diagnostics, hosts the ‘2024 Seoul-Roche Diagnostics Startup Sprint Demo Day’ on the 11th, to support Korean diagnostic startups globally.
Check out the latest funding news for Korean startups
THE HYOOSIK Receives Series B Funding to Enhance and Expand Hotel Operations THE HYOOSIK, a Korean IT-based lodging company, secured KRW 16 billion in Series B funding, enhancing its hotel management and expansion into the institutional investment market.
DeepSmartech Secures 4.3 Billion KRW in Pre-Series A Funding for Nano-Coating Tech DeepSmartech raised 4.3 billion KRW in pre-Series A funding to advance polymer nano-coating technology and plans to establish research infrastructure and collaborate with large enterprises.
Sweet-bio Secures Series B Bridge Investment to Accelerate Expansion into Japanese Market Sweet-bio, a Korean biotech company, secured a Series B bridge investment from LOTTE Ventures Japan to expand into the Japanese market and advance its Greek yogurt production.
CULTURE THINK Secures a 2 billion KRW funding from Sony Music Sony Music invests 2 billion KRW in Korean startup CULTURE THINK through The Orchard, supporting its expansion in the music industry and aiming to make it Asia’s No.1 Artist Fulfillment Agency.
Mediver Secures 1.5 Billion KRW Pre-Series A Funding to Enhance Beauty Medical devices Mediver, a Korean firm, secured 1.5 billion KRW pre-Series A to enhance product competitiveness and expand into North American and Southeast Asian markets through global partnerships.
Homes Company Secured Investment from Aqaralife to Enhance Co-living Smart Solutions Homes Company and Aqaralife partner to integrate smart IoT solutions in co-living spaces, enhancing convenience and efficiency, with plans for senior housing and global expansion.
Solarize Secures 300 Million KRW Funding to Drive Solar and Hydrogen Energy Solutions Korean startup Solarize secures 300 million KRW investment from Jeonnam CCEI and joins Gyeongbuk Unicorn Support Program, aiming for growth in solar and hydrogen energy sectors.
ShunyTech Secures Investment to Revolutionize Eco-Friendly Seaweed Seed Farming ShunyTech, a Korean aquatech firm, secures investment to enhance eco-friendly seaweed seed farming technology, addressing inefficiencies and environmental issues of current methods.
PulseAd Secures Seed Funding from SparkLabs to Launch Global Retail Media Platform Korean startup PulseAd secures seed funding from SparkLabs to enhance its AI-powered retail media platform, aiming for global expansion and optimized ad results on e-commerce platforms.
WeBareSoft Secures Seed Funding From HYU Holdings to Advance AI API Platform WeBareSoft, a Korean middleware startup, secured seed funding from HYU Holdings and plans to enhance its OSORI API Gateway, while developing an AI API integration platform.
Meet startups that are striving for global expansion through exclusive interviews
[Korean Startup Interview] Medicaretec: Pioneering Advanced Surgical Devices for Global Market Expansion Medicaretec develops innovative otolaryngology surgical devices, enhancing surgical efficiency and safety, with a skilled team aiming for global expansion through a sustainable business model.
[Korean Startup Interview] BION LIQUID: Leading the Way in Ionic Liquid Innovation for a New Bio-Ecosystem BION LIQUID, a Korean innovative biotech startup, uses ionic liquid technology to convert injectable drugs into oral forms, aiming to simplify medication administration and improve patient compliance.
Hyperithm Invests in ‘Solv Protocol’ : Advancing BTC-Linked DeFi Solutions Hyperithm invested in Solv Protocol, a Web3.0 platform, enhancing BTC-linked DeFi solutions with omnichain technology. SolvBTC, their flagship product, surpassed $1 billion in deposits.
Others
MyRealTrip Achieves Record-Breaking Q2 2024 with First-Ever Profit Korean travel tech company MyRealTrip reported its highest quarterly performance and first profit in Q2 2024, achieving USD 291 million in transaction volume and USD 392,000 in operating profit.
AI Startup ‘Inshorts’ Partners with China’s Largest Animation Company, Alpha Group Korean AI startup Inshorts has partnered with Alpha Group, China’s largest animation company, to supply its AI Superscaler technology for enhancing video content quality and expanding globally.
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