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[StartupRecipe] January Sees an Increase in Startup Funding

#Weekly Funding Overview

[Jan.29 ~ Feb. 2]

The total funds raised by Korean startups of this week is KRW 250 Billion.

VinvssenMarine mobility15 billionSeries CShinhan Venture Investment, Seoul Investment Partners, Ubiquos Investment, IBK Industrial Bank, Kodit, Schmidt-DSC Investment, Korea Alternative Investment Asset Management
TTMRefurbish platform-SeedThe Invention Lab, Groundup Ventures
Anchor NodeAI gaming Solution-SeedFutureplay
BurnfitWorkout planner-Pre-Series AStrong Ventures, VNTG
Local&LifeFarmtech100 millionSeedBlue Point Partners
EveryplanetFarmtech100 millionSeedBlue Point Partners
CareforUPettech100 millionSeedBlue Point Partners
PiocelMaterials100 millionSeedBlue Point Partners
HIVISGroup workout SaaS100 millionSeedBlue Point Partners
BubbleshareB2B Marketing-SeedMashup Angels
PoscoreMaterials1 billionSeedKorea Investment Accelerator, Schmidt, HYU Holdings
RebellionsAI Chipmaker165 billionSeries BKT, Shinhan Venture Investment, Pavilion, Korea Development Bank, KB Securities, KB Investment, SV Investment, Mirae Asset Venture Investment, Mirae Asset Capital, IMM Investment, KT Investment, Seoul National University Technology Holdings, Oasis PE, Gyeongnam Venture Investment, SDB Investment, NOH & PARTNERS
Team elysiumHealthcare-Pre-Series AStrong Ventures, Evergreen Investment Partners, Digital Healthcare Partners, JiranPartners
LionRocketGen AI-CJ Investment
CoxwaveAI image editing4.5 billionSeedKB Investment, Danal, Seoul National University Technology Holdings
42MaruGen AI-Series BHana Securities, Industrial Bank of Korea
Hudson AIAI Dubbing3.3 billionPre-Series AA Ventures, Shinhan Venture Investment, Smilegate Investment
DukkubisesangProptech8 billionSeries CSamchully Asset Management Company
Gomi PaymentsFintech-Seed
woolinConvenience store fulfillment-M&AWefun
ConnecteveHealthcare4 billionPre-Series ADSC Investments, Stone Bridge Ventures, Schmidt, Reventures
CelloidBio2.4 billionPre-Series AFuture Play, POSTECH Holdings
ROVIGOSFulfillment-SeedMYSC, The Wells Investment, Kosmes
GeniusBeauty brand Marketing30 billionSeries ASG Private Equity
FiNovus LabFintech1.8 billionSeries AKakao Pay, Wisdom Asset Management, Strong Ventures

#Major Funding

  • AI Chipmaker Rebellions attracted 165 billion won in investment and accumulated investment of 280 billion won, making it the largest semiconductor startup in Korea. Valued at 880 billion won, the investment will accelerate the development of the next-generation AI semiconductor REBEL, which is being jointly developed with Samsung Electronics.
  • Vinssen, an eco-friendly marine mobility company, received 15 billion won in investment. Founded in 2017, Vinssen focuses on developing marine fuel cell systems and eco-friendly small ships based on electric and hydrogen hybrids. The investment will be used for product development and market expansion.

#Trend Analysis

January Sees an Increase in Startup Funding

In January 2024, the prevailing upward trajectory in startup investments observed at the conclusion of the previous year persisted, marking a significant progression. The total startup funding for January reached KRW 615.1 billion, surpassing the December figure by more than KRW 100.0 billion. This noteworthy increase represents a substantial surge of 131% compared to the corresponding month in the preceding year. Despite the challenges faced during the initial month of the previous year, which witnessed a decline in investments, January 2024 exhibited a positive outlook.

The landscape of major investments was characterized by robust activity, encompassing over 100 deals. Notably, the top three recipients of funding garnered substantial attention. Leading the pack was the AI chip manufacturer, Rebellion, securing KRW 165 billion, followed by the travel platform, MyRealTrip, which raised KRW 75.6 billion to fortify its superapp strategy. Autonomous driving software company, Stradvision, secured KRW 45 billion.

These entities attracted interest from both domestic and international venture capitalists, as well as global conglomerates, recognizing their promising growth potential. Examining investment trends by sector, AI-based startups emerged as dominant players in the competition.

While AI semiconductor companies commanded significant attention, AI ventures spanning mobility, advertising, marketing, security, robotics, and content also attracted substantial investments. B2B services retained popularity, contrasting with the comparatively subdued performance of B2C platforms. Noteworthy investments were observed in digital healthcare, edutech, and autonomous driving solutions. The month witnessed a notable increase in the number of companies securing funding exceeding KRW 10 billion won, nearly doubling to 20. Growth funding at Series B and beyond stages accounted for almost 20% of the total investment, with a noteworthy uptick in investments falling within the KRW 50 billion to KRW 100 billion range, a category rarely observed.

RebellionsAI Chipmaker165BSeriesB
My realtripTravel Platform75.6BSeriesF
StradvisionSelf-driving Software42B –
Geni-usBeuaty brand marketing30BSeriesA
MainlineIDP Technology27BPreIPO
UpstageGen AI25BSeriesB
MobilintAI 20BSeriesB
Elice GroupEdutech20BSeriesC
ANIAIRobotic Kitchen15.7BPreSeriesA
Jan. Top 10 funding

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