The Ventures Backs Obliview, Operator of Running and Gymwear Brand MALDEN, in Seed Round

Global early-stage venture capital firm The Ventures has invested in Obliview, the company behind functional athleisure brand MALDEN, in a seed funding round announced August 18, 2026.

Obliview, led by CEO Namho Lee, develops and manufactures MALDEN, a running and gymwear brand built around proprietary fabric development. The entire core team comes from apparel manufacturing backgrounds and manages material development end-to-end—from yarn selection and physical testing to post-processing. By internalizing the product-planning, manufacturing and distribution value chain, the company delivers high-performance products at competitive price points, a departure from the reliance on off-the-shelf fabrics common in the existing sportswear market.

The center of gravity in South Korea’s athleisure market is shifting from yoga apparel to running wear. The domestic running population is estimated to have doubled from five million in 2017 to ten million in 2025, and search volume for running wear has grown as much as fivefold over the past three years. Unlike the yoga-wear segment, which has consolidated around a few dominant brands, the running-wear category is just entering a phase of competitive shakeout. MALDEN targets this market with product lines spanning both running and gym apparel.

Since launching in May 2021, Obliview has posted a 119 percent compound annual growth rate and crossed KRW 9 billion (approximately $6.7 million) in cumulative revenue. The brand reports a product satisfaction rating of 4.8 out of 5.0, a 90-day repurchase rate of 27 percent, and a combined community of 160,000 members across its own site and official channels. Operating primarily on a direct-to-consumer model, the company has achieved a gross margin of 60 percent and an operating margin of 10 percent.

Obliview has begun international expansion, opening online stores in Hong Kong in April and Singapore in June following distributor agreements. The company is also proceeding with the establishment of a local entity in Taiwan and a distribution agreement in Malaysia. In the United States, MALDEN has collaborated with the World Natural Bodybuilding Federation (WNBF), which has chapters in more than 50 countries, to launch exclusive products sold through its global online store.

“Unlike existing athleisure brands that have grown on marketing, Obliview is a team that has sustained five consecutive years of growth by directly managing materials and production,” said Kim Chulwoo, CEO of The Ventures. “At this moment when the market is shifting from yoga apparel to running wear, we believe the manufacturing capability and profitability that Obliview has proven in Korea can be replicated across Asia and the United States.”

CEO Lee said, “The sportswear market is trending toward brand image, but ultimately the products customers return to are those with superior fit and fabric quality. We will leverage our capability in developing materials from scratch to deliver a lineup that satisfies every runner.”

The seed proceeds will be used to expand MALDEN’s running-wear lineup and to build an influencer-seeding marketing organization. Obliview plans to diversify its product categories with running accessories such as running belts and to hire dedicated seeding staff to strengthen brand awareness, aiming to establish itself as a global running-wear brand.

South Korea’s materials and manufacturing sector has seen a series of rounds in recent months. Solivis closed a KRW 23 billion Series C in August 2026 for its sulfide solid-electrolyte technology and production scaling, reaching KRW 65.2 billion in total funding. Earlier in June, QUAD closed a pre-Series A to commercialize superconducting single-photon detectors for semiconductor inspection and quantum applications.