[StartupRecipe]8 Korean Startups Expanding into Japan

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#Weekly Funding Overview

[June. 5 ~ June. 9]

The total funds raised by Korean startups of this week is KRW 30.7 billion.

Company	Inudustry	Amount	Round	Investors
Xpanner	Contech	4 billion	Series A	Stick Investment, KIBO
Bluewhale Company	logistics	-	Grant	TIPS
Conportlab	Industrial control system	-	Seed	Mashup Angels
Petel	pettech	200 million	Pre-Series A	Plan.H Ventures, KODIT
13HERTZ	Ecommerce	3 billion	Pre-Series A	Yulho
Spoit	Sports	-	Seed	KODIT
Losh Korea	Senior Care	-		The Invention Lab
Oasisstory	Hotel solution	-	M&A	Onda
Breezm	Eyewear	1.5 billion	Series A	Smilegate Investment
Studiotheblack	Entertainment	-	M&A	Enterpartners
Metalogos	Fintech	-	Seed	Yoonmin Foundation, Megastudy, Mark&company
Fasttrack Asia	Company Builder	22 billion		Krafton

Major Funding

• Company builder Fast Track Asia raises KRW 22 billion in investment from Krafton. With this investment, Krafton will support the startup industry and their global market challenges in the long term.
• Contech startup Xpanner raises an additional KRW 40 billion in investment, completing KRW 100 billion in Series A investment. It develops the automation solution Mango that helps to control construction machinery, and supplies smart construction solutions that are tailored to the site. It plans to accelerate its global expansion with this investment.
• 13 Hertz, which operates the global purchasing agency service Local Price, raises KRW 30 billion in investment. It provides services for purchasing agents, such as the lowest price information, overseas payment, and overseas shipping of goods. It plans to launch a full-scale reverse direct selling business of domestic products in Indonesia with this investment.

#Trend Analysis

8 Korean Startups Expanding into Japan

On June 7, StartupRecipes hosted the ‘InvestmentRecipes: Global VC Meetup Japan’ event in Seoul. The event took place at the venues of FrontOne in Gongdeok with the aim of fostering meaningful connections and collaboration between Korean startups and Japanese venture capitalists.

Notable participants in the event included Globis Capital Partners, a renowned Japanese venture capital firm, and Asu Capital Partners, a Japanese startup capital firm with a global investment focus. The event provided an excellent opportunity for eight promising startups associated with the D.camp Family to showcase their innovative ventures to these investors.

Prior to the pitches, Hideo Natsume, Co-Founder of Asu Capital Partners, summarized several compelling reasons that contribute to the attractiveness of the Japanese market. Natsume stated that, similar to the government in Korea, the Japanese government is taking the lead in revitalizing startups. They have announced plans to increase startup investment tenfold and expand the number of unicorns from the current six to 100 by 2027.

Natsume also mentioned that outside investors, including those from South Korea, are moving into Japan, and the country possesses a large B2C and B2B market, which presents an opportunity for startups. According to Natsume, Japan has the highest average revenue per user (ARPU) in the world, with two to three times the revenue per app download compared to the United States. Additionally, there is a significant B2B software market as companies are opting for SaaS services due to labor shortages in Japan.

Following the trend lecture, the spotlight shifted to the eight startups representing the DCamp family, who eagerly took the stage to deliver concise, five-minute pitches.

Yooha Jin, CEO of Chat English, a company targeting the Japanese B2C and B2B markets, stated, “As we make a significant entry into Japan this year, we have gained valuable insights into the current Japanese market. Through networking opportunities, we have deepened our understanding of the Japanese education market.”

<Pitching teams>

• Tella=an English conversation platform that allows users to learn English in 1:1 chat with native English tutors.
• QubitSecurity=a real-time hacking response cloud SECaaS cybersecurity platform, ‘PLURA’.
• Dalchaebi= a FemTech startup that has developed an app for managing women’s health habits.
• PaperPop= an eco-friendly company that specializes in crafting furniture and everyday products using paper materials.
• NineWatt=an energy company that specializes in developing building energy-saving solutions, management services, and carbon reduction management systems.
• Tueda=a platform where users can learn Korean and Japanese through interactive content.
• Cobalt=a content-based cross-border marketing platform called ‘Present’ designed for technology product companies.
• OneLoop= a solution that allows flexible usage of shared offices, cafes, and restaurants on an hourly basis.