• Stay informed about the latest news in the Korean startup ecosystem every monday.
• Click here for daily startup news in Korean
• Period : July 29th – August 4th, 2024

Headline

Korean Startups Attract Major Investments Across Diverse Sectors in June 2024
June 2024 saw Korean startups attract over 10 billion KRW in investments across various sectors, signaling robust growth and innovation in the ecosystem.

Korean Startups Secure Major Investments in May 2024
Korean startups in AI semiconductors, foodtech, aerospace, biohealth, fintech, and robotics secure major investments in May 2024, boosting innovation and market expansion.

Korean Government News

Korea Unveils Plans for New Startup Hubs in Seoul and Busan
Korea’s MSS announced new startup hubs in Seoul and Busan, aiming to replicate Paris’s Station F model to support deep tech startups and enhance the global ecosystem.

Korea and Saudi Arabia Establish SME and Startup Policy Council for Joint Growth
Minister Oh Young-joo of the Korean MSS met the Saudi Commerce Minister to discuss enhancing SME and startup cooperation. They proposed a policy body and invited Saudi officials to Korean events.

Korea’s MSS Launches Global Startup Center in Seoul to Support Foreign Entrepreneurs
South Korea’s MSS launched the Global Startup Center in Seoul, offering comprehensive support for foreign entrepreneurs, including resources for business setup, legal aid, and networking opportunities.

Latest Funding News

Check out the latest funding news for Korean startups

Biotech Firm Pinetree Raises $17M for Anti-Cancer Drug Development and TPD Platform
Pinetree Therapeutics raised $17 million in Series A funding to advance its AbReptor™ platform for TPD, focusing on anti-cancer drug development and expanding into other therapeutic areas.

PYLER Secures 22 Billion KRW Investment for AI-Driven Video Ad Understanding Solution
Korean startup PYLER raised 22 billion KRW in bridge investment for its AI-driven brand safety solution, AiD, preventing ads from appearing alongside inappropriate content on YouTube.

ADEL Secures 17 Billion KRW in Series B Bridge Round for Alzheimer’s Drug Development
ADEL, a Korean biotech startup, raised 17 billion KRW (12.8 million USD) in Series B bridge funding to advance Alzheimer’s treatments, including Phase 1 trials for the tau antibody ‘ADEL-Y01’.

PlugLink Secures 10 Billion KRW Investment for Expanding EV Charging Infrastructure
PlugLink has secured a 10 billion KRW investment from KDB Infrastructure Asset Management, for expanding electric vehicle charging infrastructure and enhancing service.

BIGC Raises 5 Billion KRW in Pre-Series A Bridge Round aiming at Global Entertainment Market
BIGC, a Korean entertainment tech startup, raised 5 billion KRW in a pre-Series A bridge round, planning aggressive global expansion, particularly in Japan and the U.S., focusing on K-pop and K-culture.

Kigle Secures $1.56M Series A Funding to Expand Cocobi IP Globally
Kigle gets $1.56M Series A investment from Union and KC Partners, plans to expand Cocobi IP worldwide and increase revenue to $7.8M.

AfterCompany Secures 1 Billion KRW to Enhance Omni-Channel Retail Solutions
Korean martech startup AfterCompany secured 1 billion KRW to expand its omni-channel solution “Aft,” aiming to integrate on-offline data for retail brands and drive strategic growth in the market.

Beauty Creator Lee Sa-bae’s ‘TWO SLASH FOUR’ Secures Pre-Series A Funding for Global Market Expansion
Beauty creator Lee Sa-bae’s brand “TWO SLASH FOUR” secured pre-Series A funding to expand globally. Known for high sales and award-winning products, the brand aims for continued growth.

‘THE ONEDER’ Secures Pre-Series A Funding to Revolutionize Commercial Building Management
THE ONEDER, a Korean proptech startup, received pre-Series A funding from Korea Investment Partners to expand its Building Care software, which streamlines commercial building management.

CLIWANT Secures Pre-Series A Funding to Revolutionize Public Bidding with AI
Korean startup CLIWANT, which uses AI to analyze RFPs and bid data, secured Pre-Series A funding. It aims to expand globally and streamline bid processes.

Gyulmedal Lands Pre-Series A Funding to Expand Citrus Product Line
Gyulmedal gets pre-Series A investment from Strong Ventures to enhance citrus product development and expand internationally.

Toonimotion Secures funding from Gongmyung Partners to Enhance Production and Expand Globally
Toonimotion, a Korean animation and content startup, secured investment from Gongmyeong Partners after winning the 7th Gongmyungjeon, aiming to enhance production and expand globally.

‘The Origin’ Invests in ‘Do7 Entertainment’ to Enhance its Original IP Business Capabilities
‘The Origin’ invests in Do7 Entertainment to enhance IP capabilities, expand genres, and leverage global networks, focusing on Japan and high-demand K-content markets like Vietnam.

• KIGLE Invests 400 Million KRW in DREAMFACTORY STUDIO’s New 3D Animation Series ‘CABEON’
• HALTENERGY Secures Seed Funding to Advance Hydrogen Extraction from Waste Plastic
• ‘Monster Ryot’ Secures Seed Funding for Expanding Global Webtoon IP and AI Integration
• WebareSoft Secures Seed Funding to Enhance Middleware Solutions for API Security and Monitoring Product

Korean Startup Interview

Meet startups that are striving for global expansion through exclusive interviews

[Korean Startup Interview] UpennSolution: Targeting Global Data Market with Innovative Web Crawling Solution ‘SPIDERKIM’
UpennSolution, a Korean startup, offers a no-code web crawling solution ‘SPIDERKIM’ enabling efficient data collection and analysis. The company aims for global expansion and increased investment in 2024.

Others

Shinsegae Buys AMUSE from SNOW, Eyes Global Beauty Expansion
SNOW sold AMUSE to Shinsegae for USD 42.1M. Shinsegae will leverage its distribution to grow AMUSE into a global K-beauty leader.

BalanceHero Doubles Revenue and Loans in First Half of 2024
BalanceHero achieved record H1 2024 with doubled revenue and loans. ML platform growth boosts profits. Insurance expansion planned.

Korean Hospitality Tech Leader ONDA Hits KRW 1 Trillion Milestone
ONDA, a Korean hospitality tech firm, exceeded KRW 1 trillion in booking transactions, driven by diversified accommodations and expanded sales channels, aiming for KRW 400 billion in 2024.