Korean Startups Attract Major Investments Across Diverse Sectors in June 2024

In June 2024, the Korean startup ecosystem has shown dynamic growth with significant investments across various sectors. It appears the investment freeze is gradually thawing. Let’s take a look at the startups that have secured major funding.

In the AI sector, video AI startup Twelve Labs raised 70 billion KRW in a Series A round, accelerating its business expansion. Nota AI secured 30 billion KRW in a Series C round, aiming for an IPO in 2025. Generative AI company WRTN Technologies raised 25 billion KRW in a pre-Series B round, indicating strong interest in AI solutions.

In the greentech sector, LD Carbon, specializing in waste processing and raw material regeneration, secured 40 billion KRW in a Series C round. In the energy sector, Grinergy raised 40 billion KRW from a North American investment firm to expand into the overseas energy market.

In the mobile and materials sector, radar solution provider Bitsensing received 35 billion KRW in a Series B round to enhance its technological capabilities.

In the edutech sector, AI-based education technology company Speak secured 30 billion KRW in a Series B3 round, achieving a valuation of 700 billion KRW and joining the ranks of unicorn hopefuls. Additionally, Glorang, which operates the edutech platform gguge, raised 9 billion KRW in a Series A2 round.

In fintech, payday advance service provider PayWatch secured 20 billion KRW in a Series A round. Global payment solution provider Travel Wallet received a strategic investment from prominent U.S. venture capital firm LightSpeed, marking LightSpeed’s first investment in a Korean startup.

The robotics industry also saw notable investments. Autonomous robot manufacturer Polaris 3D secured 15 billion KRW in a Series B round, and logistics robot specialist Floatic raised 5.2 billion KRW in a pre-Series A bridge round.

Biohealth company Welt raised 14 billion KRW in a Series C round, bringing its total funding to 28 billion KRW. In the foodtech sector, GoPizza secured 13.6 billion KRW from Thailand’s leading conglomerate CP Group.

Lastly, system semiconductor startup Uniqconn raised 10 billion KRW in a Series A round to strengthen its market position.

These large-scale investments across various sectors highlight the vibrancy and potential of the Korean startup ecosystem. With new funding, these companies are expected to accelerate innovation and growth both domestically and internationally.

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