South Korean startup VUS, specializing in waste collection and transportation solutions, has secured a pre-Series A investment of KRW 2.8 billion (approximately USD 2.1 million), bringing its total funding to KRW 3.25 billion (approximately USD 2.4 million). The round was led by Daekyo Investment, with new participation from Korea Investment Partners and the Korea Credit Guarantee Fund. Existing investor Korea Investment Accelerator also followed on from its initial seed investment. VUS plans to use the new funds to expand and enhance its waste collection and transportation solution, “Mango,” by increasing its workforce.

VUS developed “Mango,” an integrated solution for optimizing routing, vehicle monitoring, and operational systems in South Korea’s waste market, which is valued at KRW 25 trillion (approximately USD 18.5 billion). The company was selected for Korea Investment Accelerator’s growth support program “Bareun Donghaeng 2nd Batch” in 2022, and also as one of the innovative startups in the first half of the 2024 “IBK Changgong” program.

This investment reflects the confidence that “Mango” can lead the digital transformation of the waste management industry. Recently, VUS partnered with EcoVita, the country’s largest waste management company—recently acquired for KRW 2.7 trillion (approximately USD 2 billion)—to develop a medical waste collection and transportation solution. The company is also preparing for commercialization with mid-sized waste collection and recycling firms such as Thesol, KM Logitec, and Nutinamu, and is in talks with large domestic waste management companies as well as exploring international expansion.

Kim Beom-jun, Director at Daekyo Investment and the lead investor in this pre-Series A round, said, “We decided to invest in VUS because they have not only established a platform ecosystem with the country’s leading comprehensive environmental company but also demonstrated the technical and business capabilities to expand to mid-sized waste collection companies. We expect VUS to continue growing as a leading waste collection and transportation solution provider representing Korea.”

VUS CEO Hwang Yoon-ik stated, “The potential of the domestic waste industry is immense. While the industry has traditionally focused on incineration and landfill, we believe the time has come to transition to an upstream model focused on recycling and reuse, driven by IT technology, with a particular emphasis on the importance of data collection in the waste collection and transportation sector.”

He added, “Ultimately, the key is not just optimizing operations and managing vehicles, but integrating a data-driven management system throughout the entire process, from waste generation to collection, transportation, and disposal. Leveraging our experience with major mobility platforms like Kakao Taxi and Tada, we aim to meet the needs of both waste generators and collection companies, positioning ourselves to capture this emerging market.”