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[StartupRecipe] Investment in top AI startups in Korea surges

#Weekly Funding Overview

[Oct.23 ~ Oct.27]

The total funds raised by Korean startups of this week is KRW 64.6 Billion.

Moment StudioTravel content-New Born Ventures
AndrieiaMental Health-SeedSNU Holdings
Air and WaterFashion-SeedBass Investment, Fast Venures, Nicetiming, Angel Investor
MedipixelAI Medical17 billionSeries BPremier Partners, Company K Partners, IMM Investment, SBI Investment, IBK Industrial Bank, Daily Partners, Quad Asset Management
ConsaladGame-Pre-Series ANew Paradigm Investment
Twelve labsAI14 billionNvidia, Intel, Samsungnext, Korea Investment Partners
MoraeAI Infra30 billionSeries BKT, AMD, Forest Partners, Smilegate Investment
RunupcompanyEntertainment agency-Series AWYSIWYG Studio
TwigfarmContent-Series ASBS
ConnexiohFintech-The invention lab
YAHOKids Care-The Invention lab, Daekyo, Jones&Roket
TriggersEdutech-SeedKakao Ventures
Made3D Printing2.6 billionPre-Series ADSC Investment, Schumit, ETRI Holdings, Hyundai Group
Noise-XSound Absorption-PlanH Ventures
Pierrot CompanyRefurbished products-HGI, Gordon and Partners
CodenamebomGame-SeedBlissVine Ventures, ENSL Partners
ReturnallLogistics-SeedKorea Investment Accelerator
SendyFright transport1 billionSeries BWe Ventures
Infinite blockFintech-GrantTIPS

Major Funding

  • The AI infrastructure solution Moreh has secured 30 billion Korean won (22.3 million dollars) in funding from U.S. semiconductor company AMD and others. It specializes in developing enterprise-grade AI cloud solutions and offers a full-stack solution similar to NVIDIA’s software programming platform ‘CUDA’.
  • Medical software development company Medipixel, based on artificial intelligence, has attracted an investment of 17 billion Korean won. They have developed a solution that displays narrowed areas in angiographic images as numerical values, automating the entire analysis process for real-time use in stent procedures.
  • AI startup Twelve Labs has attracted an investment of 13 billion Korean won from companies including NVIDIA. Established in Silicon Valley and being the first company to receive investment from NVIDIA, Twelve Labs focuses on developing a massive AI model capable of analyzing and understanding images.

#Trend Analysis

Investment in top AI startups in Korea surges

With one in five global startups reaching unicorn status this year being AI companies, it’s no surprise that AI startups are attracting relatively large amounts of funding in Korea. In particular, AI solution platforms and generative AI startups are attracting the most attention from both domestic and foreign investors.

Upstage, Scatterlabs, Twelve Labs, Luton Technology, and More have all received significant funding this year, with some attracting investment from large companies. Notably, image and language model Twelve Labs became the first domestic investment target of Nvidia, while AI infrastructure software company More was selected by AMD for its potential for success in the global market.

In addition to these technology-focused startups, AI startups that are solving real-world problems in industries such as finance, healthcare, content, mobility, and education are also attracting investment. For example, AI audio company Supertone was acquired by HYBE for 45 billion won, while AI-enabled disease diagnosis and prediction services in healthcare and AI learning platforms in education have also been successful.

AI startups are attracting great attention globally, and industrial utilization is accelerating in Korea as AI technology advances. Global investors are increasingly investing in AI startups, and the number of investments in early-stage AI companies is also increasing. AI startups are expected to attract even more attention in the future as they open up new possibilities in various technologies and industries.

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