• 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 : July 8th – July 14th, 2024

Headline

Bungaejangter Secures KRW 40 Billion Series E Funding, Valuation Hits KRW 500 Billion
Bungaejangter, a South Korean secondhand fashion platform, raised USD 30.6 million in Series E funding led by Hana Alternative Asset Management, boosting its valuation to USD 382.5 million.

Korean Government News

MSS Signs MOU with LOTTE for Global Expansion of SMEs and Small Businesses
South Korea’s MSS, LOTTE MART, and LOTTE Global Logistics signed an MOU to support SMEs and small businesses in expanding internationally, focusing on marketing and logistics initiatives.

Latest Funding News

Check out the latest funding news for Korean startups

POEN Secures 39 Billion KRW in Series B Funding for EV Battery Remanufacturing
POEN, a Korean startup, raised 39 billion KRW in Series B funding to advance its EV battery remanufacturing technology and expand its global presence.

Media&Art’s Groundseesaw Raises 11 Billion KRW to Enhance Art Platform
Korean-based art exhibition platform Groundseesaw, operated by Media&Art, has secured a 110 billion KRW (approximately 8.3 million USD) Series A investment from HB Investment and Timefolio Asset Management.

SNAPTAG Secures Series B Funding to Advance Invisible Watermark Technology
SNAPTAG secured Series B funding to enhance its invisible watermark technology, offering solutions in information security, AI image authentication, and IP authentication.

CastingN Raises 5.2 Billion KRW in Series B to Enhance B2B Procurement System
Korean B2B startup CastingN raised 5.2 billion KRW in Series B funding planning to enhance its procurement system and aims for 40 billion KRW in annual revenue, targeting large enterprises.

JLT Secures KRW 5.1 Billion in Series A for Global Factory Automation Expansion
South Korean startup JLT raised KRW 5.1 billion in Series A funding to advance its AI-integrated welding systems and expand globally in factory automation solutions by 2025.

Beeble Secures $4.75 Million Seed Investment to Expand AI Virtual Studio Platform
Korean startup Beeble raised $4.75 million from Basis Set Ventures and Fika Ventures for its innovative AI virtual studio platform, aiming to empower artists and expand globally.

Floatic Secures Final Investment in Pre-Series A Round from Hyundai ZER01NE
Floatic, a South Korean robotics firm, closed its pre-Series A funding with additional investment from Hyundai Zer01ne, raising over KRW 10 billion for logistics solutions.

WOWPASS and JYP Entertainment Join Forces for K-POP Tourism
Orange Square, operator of WOWPASS for foreign tourists, received strategic investment from JYP Entertainment, aiming to leverage K-POP synergies and enhance growth.

Lemontree Raises $1.8M in Pre-Series A for ‘Firfin’ Allowance Management Service
EduFinTech company Lemontree raised 2.3 billion KRW in pre-Series A funding. The funds will advance its ‘Firfin’ service, offering allowance management and financial education, targeting minors and their parents.

Albus Secures KRW 500 Million Investment for Hyper-Casual Game Expansion
Korean game developer Albus raised KRW 500 million (USD 388,000) from Kakao Ventures to expand their hyper-casual games globally.

NOCT Research Secures Strategic Investment from Alarmy’s Delightroom
Korean-based sleep health functional food startup NOCT Research has received strategic investment from Delightroom, the operator of the global morning wellness app Alarmy.

21market Gains Investment to Enhance and Expand Used Electronics Trading
21market, a Korean recommerce platform for electronics, received bridge funding from Postech Holdings to improve and expand its services in the used electronics market.

• LTIS Secures Seed Funding for Advanced Fluidic Imaging Cell Counters
• NEWEYE Attracts Seed Investment from Series Ventures to Advance Innovative Tax AI Solutions
• Korean AI Startup Weavel Selected for Y Combinator’s S24 Batch, Secures Investment
• ROWAIN Secures Funding to Advance Robotic Vertical Farming and Global Expansion
• LENGED Secures Investment from TheVentures for Innovative ‘Chelly’ Virtual Avatar Video App

Korean Startup Interview

Meet startups that are striving for global expansion through exclusive interviews

[Korean Startup Interview] Omnicoat’s Dry Laser Printing Revolutionizes Color-Coated Steel and Battery Electrode Technology
Omnicoat’s dry laser printing technology, initially for metal and glass, holds promise for expansion into the battery industry, amplifying aesthetic appeal and functionality in construction and electronics.

[Korean Startup Interview] C&TUYOUNG’s Cutting-Edge Slitting Technology: Innovating Carbon Fiber Industry
Korean startup C&TUYOUNG makes carbon fiber more affordable by slitting 12K fiber into 3K and 6K, enhancing its application in electric vehicles, robotics, and more.

Others

Marketboro Innovates Food materials Distribution, Eyes 2027 IPO
Marketboro, a Korean enterprise foodtech leader, plans a 2027 KOSDAQ IPO, expanding Marketbom and Foodspring, with 11T KRW target sales.

Connecteve and UAE’s Burjeel Holdings Forge Strategic AI Healthcare Partnership
Connecteve, a Seoul-based global AI healthcare firm, partnered with UAE’s Burjeel Holdings to integrate AI technology in radiology and other healthcare services, aiming to enhance global product standards.

Jeonbuk CCEI Promotes ‘MEGA US Expo 2024’ for Korea-Vietnam Startup Exchange
Jeonbuk CCEI launched ‘MEGA US Expo 2024 pre-conference’ to boost Korea-Vietnam startup exchange, involving startups, multinational VCs, and programs to enhance bilateral cooperation.