[Korean Startup Weekly News #47] ABLY Becomes Korea’s First Unicorn of 2024 with $75M Investment

12/8/2024

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Catch up on last week’s top stories from the startup ecosystem in the Korean Startup Weekly News.

Headline

ABLY Becomes Korea’s First Unicorn of 2024 with $75M Investment from Alibaba
ABLY Corporation secured $75M from Alibaba, becoming Korea’s first 2024 unicorn at a $2.25B valuation, driven by K-style competitiveness, rapid growth, and global expansion in fashion commerce.

Rebellions and SAPEON Merge to Form Rebellions, Pioneering Global AI Growth
Rebellions, formed from the merger of Rebellions and SAPEON, has launched with a $975M valuation, aiming to lead Korea’s AI semiconductor industry and expand into global markets with strategic support.

Korea supports Indonesia with smart factory tech and training center launch
Korea is supporting Indonesia by launching a smart factory training center to share advanced technology, improve manufacturing efficiency, and train professionals, fostering innovation and collaboration.

Check out the latest funding news for Korean startups

SDT Secures $15 Million in Pre-IPO Funding to Lead Korea’s Quantum Tech Race
With $15M in pre-IPO funds, SDT aims to commercialize quantum tech in defense and AI, enhancing its lead in global markets.

NUUA raises $10M to expand AI-powered travel tech and global market presence
NUUA raised $10M to expand its AI-powered aviation back-office system, enhance global partnerships, and grow its SaaS solutions, targeting automation and innovation in the travel tech industry.

DOD Secures $9.2M Pre-Series A Funding to Drive Global K-POP Expansion
D.O.D raised $9.2M in Pre-Series A funding, led by HASHED Ventures, to expand its K-POP IP ecosystem, discover new artists, and grow globally, targeting Southeast Asia and Japan.

ALDAVER Raises $8.4M to Expand Biopolymer-Based Artificial Organ Simulators
Korean startup ALDAVER raised $8.4M to develop biopolymer-based artificial organ simulators, expand to laparoscopy, and enter global markets amid growing demand for ethical medical training alternatives.

Samsung Securities and AFWP Lead $693M Series D for AI Innovator Tenstorrent
Samsung Securities and AFWP co-led Tenstorrent’s $693M Series D funding, attracting global and Korean investors to support AI computing innovations, open-source software, and custom silicon development.

AI-Powered Marketing Innovator Blux Secures Series A to Boost Global Reach
Blux by Z.ai lands Series A funding to accelerate customer acquisition and targets global markets for expansion.

Neutune Secures KRW 2B to Revolutionize AI Music Creation with Mix Audio Platform
Neutune raised KRW 2B to enhance its AI-powered music platform, Mix Audio, focusing on copyright-safe generative AI, rapid global growth, and expanding tools for seamless music creation and distribution.

Medi Plus Solution partners with KYOBO Life to advance digital health management services
Medi Plus Solution, backed by $6M from KYOBO Life, aims to expand its digital health solutions, enhance employee wellness programs, and enter the insurance market with personalized, tech-driven services.

Second Ocean Attracts KRW 500M to Innovate Sustainable Seaweed ‘Gim’ Farming
Second Ocean raised KRW 500M to develop AI-driven seaweed(Gim) farming systems, tackling seasonal challenges, promoting sustainability, and expanding Korean seaweed globally.

Meet startups that are striving for global expansion through exclusive interviews

[Korean Startup Interview] LIFE FESTA, ‘Blending Gaming and Reality to Foster Healthier Daily Lives’
LIFE FESTA is a startup transforming digital culture by gamifying real-world activities, encouraging healthier lifestyles through a platform that rewards and connects offline experiences.

Gyeonggi CCEI Awarded ‘Rising Star’ at 2024 SES Awards by ICC
Gyeonggi CCEI wins ‘Rising Star’ at SES Awards, highlighting its role in propelling Korean startups onto the global stage

KAIST and Atrandi Partner to Install South Korea’s First STYX Platform for Protein Engineering
KAIST partners with Atrandi Biosciences to install South Korea’s first STYX platform, enhancing single-cell analysis and protein engineering while strengthening ties between South Korea and Lithuania in biotech innovation.

Here is news about Korean startups that received innovation awards at CES 2025.