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• Period : 09 DEC. ~ 15 DEC., 2024

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

Headline

COMEUP 2024 Showcases Innovation Beyond Borders With Record Global Participation
COMEUP 2024, South Korea’s largest startup festival, featured 260 startups, highlighted deep tech and sustainability, and fostered global innovation through exhibitions, keynotes, and collaboration programs.

Korean Government News

[Official] Korea’s MSS Announces $11.1 Billion for Deep-Tech and Global Startup Initiatives in 2025
With a significant increase to $11.1 billion, South Korea’s 2025 MSS budget targets deep-tech innovation and global startup expansion.

Latest Funding News

Check out the latest funding news for Korean startups

Speak Secures $78 Million in Series C Funding, Valuation Hits $1 Billion
Speak, the AI-driven language platform, has raised $78M in Series C funding, pushing its valuation to $1 billion amid rapid growth.

Twelve Labs Secures $30 Million from Top Investors to Enhance Video AI Technology
With new funding, Twelve Labs to expand AI capabilities, partnering with Databricks and Snowflake for advanced video content analysis.

Specter Enhances Global Talent Verification with $8.4 Million in Total Funding
Specter, a talent verification platform, boosts its total investment to $8.4M, planning to advance into new international markets.

ABETTER Secures Pre-Series A Funding to Enhance E-commerce Solutions
ABETTER, an AI e-commerce solutions firm, secures KRW 1 billion from Capstone Partners, targeting global expansion and technology enhancement.

Orange Biomed Raises $2.3M in Series A1 to Pioneer Diabetes Management Solutions
South Korean startup Orange Biomed raised KRW 3 billion (USD 2.3M) to advance its HbA1c device, “OBM rapid A1c,” focusing on U.S. FDA approval, commercialization, and global market entry.

ICU Corporation Secures KRW 500M to Advance XR-Based Pediatric Strabismus Therapy
South Korean startup ICU Corporation raised KRW 500M in pre-Series A funding to advance its XR-based digital therapeutic, Preznel DTx, targeting pediatric strabismus, aiming for clinical trials, certification, and commercialization.

Green-DA Secures Pre-Series A Investment for Waste-Based Bio-Aviation Fuel Production
Green-DA secures investment from Bluepoint Partners to commercialize bio-aviation fuel feedstock made from fried food waste.

• Sweetndata Secures Seed Funding to Revolutionize Fandom Content with AI and Global Expansion
• Mobileight Secures Seed Funding to Advance Autonomous Agricultural Robot Platform ILRO
• Vegan Cosmetic Brand ‘Vegan Super’ Secures Investment for Global Expansion
• KRUSH Secures Seed Funding to Expand Its Asian-Focused Global Dating Platform

Korean Startup Interview

Meet startups that are striving for global expansion through exclusive interviews

[Korean Startup Interview] IPIN LABS, “Challenging the Global Market with Strong Indoor Positioning Technology”
IPIN LABS transforms indoor positioning by leveraging existing infrastructures like WiFi and Bluetooth. Using SLAM technology, it delivers cost-effective, accurate tracking, surpassing traditional methods in adaptability.

[Korean Startup Interview] Dtonic, “Tonic Data to Recreate High Value… Targeting Over $25 Million in Revenue This Year”
Dtonic transforms low-value data into high-value insights using its proprietary Geo-Hiker technology, excelling in spatiotemporal data processing. Achieving global growth, it supports DX through smart solutions. 

Korean Venture Capital News

The Invention Lab and Sunway iLabs Collaborate to Support Korean Startups in Malaysian Market
The Invention Lab partners with Malaysia’s Sunway iLabs to support Korean startups’ expansion into Malaysia’s growing market.

Others

CES 2025: Kakao Ventures Brings Seven Innovators to the Global Tech Arena
Seven Kakao Ventures investees, including Asleep, WEFLO, and Prevenotics, will showcase award-winning innovations at CES 2025 in Las Vegas from January 7-10.

Collaboration Drives Innovation: Gyeonggi CCEI & SAMHWA PAINTS INDUSTRIAL’s Unicorn Bridge 2024
Gyeonggi CCEI and SAMHWA PAINTS INDUSTRIAL celebrated the success of their 2024 Unicorn Bridge program, showcasing collaborative PoC results with startups.

Below are interviews with ten startups participating in the ‘K-Startup Grand Challenge,’ a program designed to assist international startups in entering the Korean market.

• [KSGC Interview] 24TTL Korea, “Transforming E-Commerce Experiences in a Competitive Market”
• [KSGC Interview] Jaggle.AI: An Ambitious Startup from Bhutan Setting Its Sights on Asia, Especially Korea
• [KSGC Interview] Lumitics Targets Korean Market with AI-Driven Food Waste Reduction Technology
• [KSGC Interview] OneDegree Global : ‘Bringing Cutting-Edge AI Security and Insurtech Solutions to Korea’
• [KSGC Interview] Greyd, “Bridging Korean SMEs to Global Markets Through Innovative Video Review Campaigns”
• [KSGC Interview] Amatelus’ SwipeVideo: “Revolutionizing Personalized Video Viewing Experiences”
• [KSGC Interview] Pettinee Brings Telemedicine Innovation to Korea’s Growing Pet Care Market
• [KSGC Interview] YJ Electric: “Transforming Agriculture with Smart Farms in the Korean Market”
• [KSGC Interview] Nanodropper, “Tiny Drops, Big Vision. Revolutionizing Eye Care with Precision Micro-Droplet Technology”
• [KSGC Interview] MONA Bridges Businesses and Communities for Sustainable Impact in Korea