Spoon Labs Secures $90M from Krafton for Global Expansion

[Korean Startup Weekly News #35] Spoon Labs raised $90M from Krafton for Global Short-Form Drama Expansion

9/15/2024

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Spoon Labs Secures Major Investment from Krafton for Global Short-Form Drama Expansion
Spoon Labs secured a 120 billion KRW (90 million USD) investment from Krafton for its global short-form drama platform Vigloo, expanding its content reach.

Seoul Unveils ‘Try Everything 2024’ to Propel Startups and Drive Open Innovation
Seoul hosted “Try Everything 2024,” a global startup festival, featuring AI-driven solutions, investment programs, and open innovation.

Foreign Startups Pitch to Korean Investors at Global Startup Center Event
The Ministry of SMEs and Startups held a Foreign Entrepreneurs Investment Meetup at the Global Startup Center, connecting foreign founders with Korean investors.

KISED’s Global Relay IR in Paris and London Links Korean Startups with European Investors
KISED hosted the “Global Relay IR” in Paris, connecting Korean deep-tech startups with European investors. The event aimed to support global investment and foster market entry for innovative startups.

Check out the latest funding news for Korean startups

Vueron Secures $16.5M in Series A to Boost LiDAR-Based Autonomous Driving Solutions
Vueron Technology raised $16.5M in Series A funding to expand its LiDAR-based ADAS and autonomous driving solutions.

Korean AI Startup Open Research Raises $7.5M to Launch Advanced Search Service
Open Research, founded by former Kakao Brain execs, secured 10 billion KRW to launch a real-time AI search service for professionals.

Trillion Labs Secures $4.2M to Build Korea’s First Sovereign LLM
Trillion Labs secured $4.2M in funding to build a Korean LLM. Their goal is to create AI that understands Korean culture and supports AI leadership.

Space Oddity Secures Series B Funding to Expand K-Pop Fandom Services Globally
Space Oddity, backed by KC Ventures and new investors, secured 5 billion KRW to boost its K-Pop Fandom Incubating Service for global outreach.

FUST Lab Secures Pre-Series A Funding to Expand Ultrasonic Emulsification Technology
FUST Lab, using focused ultrasonic tech, secured KRW 3.1B funding to expand its emulsification equipment and PFAS treatment device globally.

24.5 Corp’s ‘Super Intern’ Gains TIPS Backing and Follow-up Investment to Expand AI Focus
Korean startup 24.5 Corp’s ‘Super Intern’ secured follow-up investment and TIPS program selection. The platform focuses on AI recruitment, utilizing top talent from the career platform ‘Ssgsag’.

Series Ventures Backs SkinSeoul’s AI-Powered Platform to Revolutionize Global K-Beauty
SkinSeoul, an AI-powered beauty e-commerce platform, secured seed funding to enhance global distribution of Korean cosmetics, focusing on localization, pricing, marketing, and AI-driven personalization.

Jeju CCEI Seed Investment Fuels WondersLab’s AI and JIN System’s Location Tech
Jeju CCEI invested in WondersLab and JIN System. WondersLab develops AI tools for businesses, while JIN System provides location tracking. These investments aim to support their growth and global expansion.

ExFlyer Secures CNTTech Investment to Expand MUST-AD to 3,000 Stores by next year
Korean startup ExFlyer, backed by CNTTech, expands its MUST-AD platform to streamline franchise advertising. The company targets 3,000 stores and leverages AI for targeted ads.

D.circle Raises Seed Funding to Launch AI-Powered Research Matching Platform RnDcircle
D.circle raised seed funding to launch RnDcircle, an AI-driven platform that streamlines research partner matching, reducing searching time and enhancing industry-academia collaboration.

Meet startups that are striving for global expansion through exclusive interviews

[Korean Startup Interview] KINGO Bio Challenges Global Giants with Innovative Clean Up Beads Solution ‘GraBeads’
KINGO Bio, an ambitious Korean biotech startup, has developed a clean-up bead solution ‘GraBeads,’ enabling the early diagnosis of various diseases. They are now knocking on the door of the global market.

[Korean Startup Interview] OCULIGHT: Shining a Light on Safer, More Accurate Cataract Surgeries
OCULIGHT’s FDA-approved iChopper, paired with the LED-based iVision, aims to reduce complications and patient discomfort during cataract surgeries, while advancing into global markets.

Kim Bong-jin’s Grandeclip Completes Acquisition of AMCR, Aims for Global Golf Wear Market
Grandeclip, founded by former Baemin chairman Kim Bong-jin, acquired AMCR, the operator of Amazing Cre and ICEBERG GOLF, aiming to expand Amazing Cre into a global premium functional apparel brand.

KITA and IFA Partner to Propel Korean Startups into the European Market
KITA and IFA signed an MOU to connect global startup platforms, enhancing Korean startups’ entry into European markets.

Naver Collaborates with Saudi Arabia for Arabic-based LLM Development and AI Growth
Naver partnered with Saudi Arabia’s SDAIA at the Global AI Summit. They will collaborate on AI, cloud, data centers, and robotics. This aligns with Saudi Arabia’s Vision 2030 and strengthens Naver’s global presence.