[StartupRecipe] Logistics Startup Investments in Korea Double in 2024

Access to the latest Korean startup news and startup database for free

#Weekly Funding Overview

[Dec. 2~ Dec. 6]

Company	Inudustry	Amount	Round	Investors
Careforu	Pet tech	-	Grant	TIPS
Opremed	Bio	-	Grant	Deeptech TIPS
LEDON	LED	-	Grant	Deeptech TIPS
Biocraft	Bio	-	Grant	Deeptech TIPS
i.Divine	Bio	-	Grant	Deeptech TIPS
Plecko	Manufacturing	-	Grant	Deeptech TIPS
Studio Free Will Illusion	Media tech	-	Grant	Deeptech TIPS
Cloudike	Cloud storage	-	Grant	Scaleup TIPS
Purunbit	Plasma	-	Grant	TIPS
Clinkers	Foreigners Platform	-	Grant	TIPS
Buenocompany	Grocery App	-	Grant	TIPS
Reports	Sports tech	-	Grant	TIPS
Hello My Pet	Pet Healthcare	-	Grant	TIPS
Burnit	Workout planner	-	Grant	TIPS
DeepVisions		-	Grant	TIPS
Pondmakers	Fandom platform	-	Grant	TIPS
Goatcompany	Home appliances Platform	-	Grant	TIPS
Teiren	Security	-	Grant	TIPS
Vision Innovation		-	Grant	TIPS
Hana Networks	LED	-	Grant	TIPS
DOD	Music enterprise	12.1 billion	Pre-Series A	Hashed Ventures, CJ Investment, iM Investment Partners, Union Investment Partners, Future Play
ALDAVER	Medical simulator	11 billion	Series A	SL Investment, Korea Investment Partners, Daily Partners, KB Investment, Ascendo Ventures
Woodpecker	edtech	-	Seed	MYSC
ICUcorporation	Digital therapeutics	500 million	Pre-Series A
MYMETA	AI	-		Oracle Venture Investment, Openknowl
QRENS	Quantum computing	-		PG Ventures
MakeWorks communication	Camping infra	-	Seed	Cnttech
codeway	Cable	-		Clust ventures
Locuskorea	Logistics	300 million	Seed	Busan CCEI
teamreboott	AI	200 million		Busan CCEI
V Dream	HR for disabled	1.5 billion	Pre-Series A	Intops Investment
Phyto soul	Perfume brand	-	Seed	Bonn Angels Venture Partners, khsd
INOCRAS	Bio	-		Big Move Ventures, Samsung Venture Investment, Ignite Innovation, asanfoundation
Newtune	AI Music	2 billion	Pre-Series A	Intervest
MONANDOL	Food platform	-	Seed	Primer
Second Ocean	Seaweed	500 million	Seed	The Ventures, AUM Ventures, The Invention Lab, Antler Korea
BIOD	Bio	-	Seed	Smilegate Investment, Korea Investment Accelerator
JJ Global Group	Content	3.2 billion	Series A	Michigan Venture Capital
Myorange	Impact tech	-	Seed	MYSC
Geeks Loft	Smartglass headphone	-		Bumjin
SDT	Quantum computing	10 billion	Pre IPO	DS Asset Management, IBK Investment & Securities
Seoul Robotics	Mobility	-		Tyche Investment
Lemong	AI	-	Seed	Blue Point Partners, The ventures
Micropix		800 million	Pre-Series A	The Invention Lab, BA Partners
NUUA	Travel tech	13 billion	Series A	Kiwoom Investment, Shinhan Venture Investment, Woori Financial Group, Capstone Partners, IBK Industrial Bank, KB Securities, Cyrus Venture Investment, SBA
Z.Ai	B2B Marketing	-	Series A	Primer Company Partners, Spring Camp, Infobank, Samsung Fire & Marine Insurance Co
Space Jump	Business shutdown helper	-	Seed	Nanum angles
The Blessed Moon	Beauty brand	2.5 billion	Series A	EAST GATE PARTNERS, Korea Investment Partners, Seoul Investment Partners
L4box	Edtech	-	Pre-Series A	Prologue ventures
Ninetosix	Footware	-		BetahausX

#Major Funding

• Nuua, a developer of back-office systems for the airline industry, has raised KRW 13 billion in funding. The company automates ticketing operations such as reservations, cancellations, and refunds, which were previously handled manually. Additionally, it streamlines ancillary services like seat selection, in-flight meals, and Wi-Fi.
• DOD, a global music enterprise, has secured KRW 12.1 billion in investment. The company leverages its roster of artists to produce K-pop music and operates a system for fostering and investing in K-pop talent.
• Aldaver, a medical simulator developer, has raised KRW 11 billion in funding. The company creates training simulator products using synthetic biopolymer materials and 3D printing technology to manufacture artificial organs. The investment will be used to accelerate its expansion into global markets.

#Trend Analysis

Logistics Startup Investments in Korea Double in 2024

The Korean logistics and transportation startup ecosystem endured a turbulent year in 2023, characterized by a dramatic investment downturn that saw the once-promising last-mile delivery sector dramatically shrink. Investment figures tell a stark story of contraction: the logistics and delivery space witnessed a precipitous decline from 435.5 billion won in 2021 to 400.5 billion won in 2022, further plummeting to a mere 80.4 billion won in 2023.

While the initial outlook seemed bleak, there are emerging signs of recovery. StartupRecipe funding data suggests that funding raised by November has already exceeded last year’s total, potentially reaching 158.9 billion won—more than double the previous year’s investment. This resurgence is primarily driven by logistics startups leveraging advanced IT technologies, particularly artificial intelligence, to revolutionize traditional supply chain operations.

The pandemic-fueled e-commerce boom catalyzed significant growth in logistics services, creating unprecedented demand for storage, transportation, and innovative solutions. As the market matures, startups are now laser-focused on developing automated, operationally efficient platforms that can navigate increasingly competitive landscapes.

Several standout companies have emerged as investment darlings this year. Zenix, for instance, secured a pre-IPO investment and successfully went public in September, simultaneously expanding into smart port technologies and exploring international markets. Fassto has accumulated an impressive 130 billion won in cumulative investments, establishing itself as a leader in fulfillment systems with sophisticated global cross-border commerce services.

Logistics robotics has also captured significant investor attention, with both startups and major corporations investing heavily in automation technologies. Mobyus, an autonomous mobile robot (AMR) company, raised 34 billion won pre-listing, while Floatic has secured 10 billion won in cumulative investments, developing robotic solutions for warehouse automation in collaboration with large enterprises.

Digital forwarding and supply chain visibility solutions are another bright spot, with companies like Sellernote and Seavantage attracting corporate interest. Seavantage, in particular, has gained traction with its innovative ship arrival prediction technologies, catching the eye of major logistics providers.

Despite current economic challenges and consumer spending constraints, the logistics startup ecosystem remains resilient. The market is increasingly valuing solutions that optimize profitability, enhance operational efficiency, address labor shortages through automation, and provide sophisticated cross-border capabilities.