Design&Practice, the Korean startup behind automotive lease and rental management platform Chazm, has closed a $10.3 million (15.1 billion KRW) Series A funding round to expand its data-driven vehicle lifecycle platform.

The round was led by Stonebridge, with participation from financial investors including KB Investment and Futureplay, alongside strategic investors Zero1NE Ventures (Hyundai Motor Group’s venture arm), LX Ventures (LX Group), and Abu Dhabi-based global investor Shorooq HQ.

Notably, early investor Futureplay participated across all funding stages—Pre-A, bridge, and Series A—demonstrating continued confidence in Design&Practice’s trajectory. With this latest round, the company’s total raised capital reaches $13 million (19 billion KRW).

Chazm operates as a comprehensive platform managing the entire lifecycle of leased and rented vehicles, from initial contract through operation, return, and resale. The platform focuses on systematically tracking vehicle histories and establishing reliability standards, enabling customers to make more informed decisions based on transparent vehicle conditions and predictable criteria. By structuring management standards required by financial institutions and the broader industry, Chazm aims to reduce the information asymmetry and complexity that has traditionally burdened consumers with unnecessary risk.

Building on this operational model, the company plans to gradually expand its global distribution and export business for returned lease and rental vehicles, focusing initially on Japan and Middle Eastern markets.

“Automobiles represent the most expensive consumer purchase most people make, yet price volatility and opaque distribution structures force consumers to shoulder excessive risk,” said Sangyeon Jung, CEO of Design&Practice. “Chazm is addressing these structural problems to transform vehicles from ownership assets into manageable consumption resources, ultimately changing how people approach vehicle consumption itself.”

Since launching just 18 months ago, Chazm has demonstrated rapid traction with 300,000 accumulated members and $80.5 million (118 billion KRW) in cumulative transaction volume.