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• Period : August 5th – August 11th, 2024

Headline

Vely Monkeys Secures $9.6M Series B for K-Beauty Expansion in India
K-beauty platform Maccaron, run by Vely Monkeys, raised $9.6M to introduce more Korean brands to the rapidly growing Indian market.

Korean Government News

MSS Selects 40 Teams from 19 Countries for K-Startup Grand Challenge 2024
MSS selects 40 teams from 19 countries for the K-Startup Grand Challenge 2024, offering acceleration support, mentoring, and $400K in prizes. Competition was 43:1.

Korea’s MSS Announces 20 Startups for Global TIPS International Expansion Program
Korea’s MSS has selected 20 startups for the Global TIPS program, providing up to $480,000 for international expansion with support from overseas venture capitals and government matching funds.

Latest Funding News

Check out the latest funding news for Korean startups

NCsoft Acquires Global Rights for “BREAKERS” through Strategic Investment in VIC GAME STUDIOS
NCsoft secures global publishing rights for “BREAKERS” with a KRW 37B (USD 28M) investment in VIC GAME STUDIOS for mutual growth.

‘All Round Doctors’ Secures 7 Billion KRW to Enhance Digital Cancer Care Solutions
All Round Doctors raises 7 billion KRW in Series A funding to enhance CANMORE, a digital device for improving chemotherapy adherence and quality of life for cancer patients.

Beringlab Attracts $2.32M to Grow AI-Powered Legal Translation Globally
Korean AI legal translation firm Beringlab raises 3 billion KRW in pre-Series A funding, led by SBVA, to enhance and expand services.

Safetics Raises 2 Billion KRW to Enhance Cobot Safety
Safetics raises 2 billion KRW Series A to boost cobot safety tech, aiming for global market growth and collaboration with Universal Robots.

Norma Attracts Significant Foreign Investment for Quantum Technology Expansion
Korean quantum technology company Norma receives investment from Vertex Ventures, achieving a valuation of $76.5 million, and prepares to launch its first industrial quantum computer.

Cardmonster Secures Pre-Seed Investment to Innovate Online and Offline Gaming Markets
Cardmonster receives pre-seed investment from 500 Global and Mashup Ventures to develop innovative board and trading card games, aiming for global expansion using Disney IP.

SILI ENERGY Secures Additional Seed Funding for Advanced Secondary Battery Technologies
SILI ENERGY, a Korean battery startup, has secured additional seed funding from Korea Investment Accelerator to advance its next-generation battery technologies focusing on silicon and lithium materials.

Lunacell Gains Seed Investment from KBIOHealth for Advanced Single-Cell Analysis
Lunacell, a Korean single-cell analysis company, secured seed investment from KBIOHealth, enhancing its financial base and collaboration opportunities to become a leader in the biohealth industry.

CrossPoint Therapeutics Selected Deeptech TIPS to Advance Next Generation ADC Technology
CrossPoint Therapeutics, a Korean biotech firm, has selected Deeptech TIPS to advance its stealth-body based ADC technologies, aiming to enhance treatment efficacy and reduce side effects.

Korean Startup Interview

Meet startups that are striving for global expansion through exclusive interviews

[Korean Startup Interview] How HOYA LAB is Tackling Gene Therapy’s Toughest Problem with AI
By integrating AI and biotech, HOYA LAB focuses on reducing off-target effects in gene therapy, aiming to streamline and lower the costs of drug development.

[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.

Korean Venture Capital News

Others

Naver Reports Record-Breaking Q2 2024 Performance with Unprecedented Revenue
Naver’s Q2 2024 revenue hit KRW 2.61T (USD 1.96B), up 8.4% YoY. Adjusted EBITDA reached a record KRW 638.4B (USD 478.8M), with strong growth across all segments.

Kakao Sees Strong Q2 2024 Performance with 4% Revenue Growth and 18% Profit Increase
Kakao’s Q2 2024 revenue grew 4% year-on-year to KRW 2.049 trillion, with an 18% rise in operating profit. Platform and Content segments were key growth drivers.