15 Global Funds Selected to Invest in K-Startups
The Korean government(The Ministry of SMEs and Startups) has announced the selection of fund management companies to manage the Global Fund in 2024. This year’s investment project is unprecedented, with a scale of KRW 150 billion. The project attracted applications...
Google Play Hosts 2024 Changgoo Alumni Day
Google Play is hosting the 2024 Changgoo Alumni Day to showcase Korean-backed startups. Launched in 2019, Changgoo is a startup support program run by Google Korea in partnership with the South Korean government. The initiative aims to provide small and...
Three Key Themes at NextRise 2024
NextRise 2024, Asia’s largest startup exhibition, commenced on June 13-14 at COEX in Gangnam-gu, Seoul. In its sixth year, the event reached unprecedented scale, featuring 1,500 startups, 250 global large and mid-sized companies, venture capitalists, and startup support organizations. This...
AI Chip makers Rebellions and Sapeon Korea Merge
Rebellions, an AI chip startup, is set to merge with Sapeon Korea, a subsidiary of SK Telecom. The two entities plan to establish an integrated corporation by the end of this year, with Rebellions absorbing Sapeon Korea through an acquisition....
Seoul AI Hub Anchor Facility Opens to boost AI Ecosystem
The Seoul AI Hub anchor facility has officially opened, aiming to foster a robust AI ecosystem in the city. Serving as a central hub for AI industry support, this state-of-the-art facility strategically integrates resources from various AI support centers in...
IBK hosts Changgong demoday 2024
Industrial Bank of Korea(IBK) held its ‘IBK Changgong 2024 First Half Demo Day’ event from May 29-30 at the IBK Finance Tower on Eulji-ro in Seoul. The event provided an opportunity for 24 startups that completed the IBK Changgong Acceleration...
South Korea's startup funding Market Bounces Back in Q1 2024: 3 key Points
The Ministry of SMEs and Startups (MSS) released a report detailing the latest trends in domestic venture investment and fund formation for the first quarter (Q1) of 2024. <Key Findings> Continued Growth: The positive trend observed in venture investment throughout...
Korea-Japan Establish $100 Million Joint Fund to Boost Startup Investment
The government is hosting the Korea-Japan Venture Startup Investment Summit 2024 in Japan to strengthen cooperation between the two nations. They’ve agreed to establish a joint fund of USD 100 million (approximately KRW 138 billion). The Korea-Japan Joint Fund comprises...
12 Korean Startups Shine at Dubai FinTech Summit
12 Korean startups showcased their innovative solutions at the Dubai FinTech Summit held at Jumeirah Resort. With their sights set on attracting venture capital funding and forging partnerships with global players, these startups leveraged the Seoul Pavilion, a collaborative effort...
Former Kakao CEO's AI Content Startup Raises KRW 16 billion
Aiz Entertainment, AI-based entertainment content, has closed a KRW 16 billion seed investment round. The funding comes from investors including Bon Angels Venture Partners, LB Investment, and Stonebridge Ventures. Founded in November 2023 by a former CEO of Kakao, Aiz...
Modusign closes KRW 17.7 Billion in Series C Funding
Modusign, SaaS-based e-contract platform, closed its Series C funding round, raising KRW 17.7 billion. The investment was led by existing investor SBVA (formerly SoftBank Ventures), with new participation from Atinum Investment, Industrial Bank of Korea (IBK), and DSC Investment. Modusign...
AI Startup Dalpha raises KRW 12 Billion
Dalpha, a B2B AI startup, has raised KRW 12 billion in pre-Series A funding, bringing its cumulative investment to KRW 13.3 billion.Mirae Asset Venture Investment led the investment round, which also included participation from Intervest, DSC Investment, IMM Investment, Partners Investment....
Recommerce platform 'Charan' secures $7M Funding
Seoul based Mine.is, the operator of fashion re-commerce platform Charan, closed a 10 billion won($7.3M) Series A funding round bringing the cumulative investment amount to 15.4 billion won. Hashed led the investment round, joined by other notable investors such as...
S.Korea Launches Startup Korea Fund to boost Startup ecosystem
The Ministry of SMEs and Startups (MSS) launched the Startup Korea Fund to boost startup funding ecosystem. The fund combines public and private investment. Private entities such as large corporations, banks, and established venture capital firms contribute alongside a government-managed...
AI startup Upstage Closes $72M Series B funding
Upstage AI, a pioneering AI company specializing in large language models (LLMs) and Document AI, today announced that it has raised $72 million in a Series B. With this latest funding, Upstage has now raised over $100 million since its...
[2024 Survey] Unveiling Korea's Most Favorable Accelerator Ranking
StartupRecipe has released the results of a week-long survey conducted in March 2024 to understand Korean startup preferences when selecting accelerators. The online survey was conducted from March 25th to 31st, 2024, attracting 291 participants. The survey targeted individuals within...