[StartupRecipe] K-Startups Seek Survival Through Global Expansion

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#Weekly Funding Overview

[Mar. 25 ~ Mar. 29]

The total funds raised by Korean startups of the week is KRW 171.3 Billion.

Company	Industry	Amount	Round	Investors
Faraday Dynamics	Robotics	-	Seed	Postech holdings, BigBang Angels, Kingospring
Mindlogic	Gen AI	7 billion	Series B	Lee, suman
lolab	Fright transport	-	M&A	Teamfresh
Talentree	Recruitment	2 billion	Pre-Series A	Nextrans, Kakao Ventures
Sorock	Content IP	-	Pre-Seed	500global
Pananastudio	Game	5 billion		webzen
Werobotics	Wearable robotics	13 billion	Series A	Intervest, GU Investment, JB Investment, Company K Partners, Hana Ventures, Future Play
Solidionics	Battery	3 billion		Samyangsa
opusm	Blockchain	300 million	Series A Bridge	BA Partners
Medistaff	Messenger for doctors	-		Bluemtech
Desilo	Security	-		SV Investment, Korea Development Bank
Signature lable	K-Beauty	-	Seed	CJ Investment, Atinum Partners
Nexthera	Bio	3 billion		Eyegene, BMI KOREA
Ahmo travel	Adventure Travel	-		MYSC
Torder	Table order Service	30 billion	Series B	Korea Development Bank, LB Investment
Hopae	Blockchain	-	Pre-Seed	500global
Nosh project	FNB	100 million	Seed	Collzdynamics
Readypost	Proptech	1 billion	Pre-Series A	KODIT
Parameta	Blockchain	9 billion		Shinhan Venture Investment, Korea Asset Investment & Securities
Surginex	Bio	8.5 billion		Laguna Investment, Kiwoom Investment, Partners Investment, Hana Ventures, POSCO Technology Investment, LSK Investment
AGL	Golf tech	30 billion	Series B	KB Investment, Shinhan Venture Investment, Hana Ventures, Woori Venture Partners, KDB Development Bank, SV Investment, TS Investment, Kolon Investment
OMNIART	Fashion tech	3 billion	Series A	Hyundai Technology Investment, Kyros Venture Investment, KODIT
Dabeeo	AI map	5 billion		LIG Nextone
Reiv	web/app Service test	-		Dunamu & Partners, Smilegate Investment
REFEELY	Eco friendly paper	1 billion	Pre-Series A	Smilegate Investment, LSK Investment, Korea Social Investment foundation, Chungnam National University Technology Holdings
Seider corporation	Energy	300 million	Seed	Another Brain, Gyeongbuk CCEI
Futurefbiotech	Bio	-	Seed	Gangwon CCEI
Toff mobility	Mobility	-	Seed	Gangwon CCEI
Rankingfish	Fishery platform	-	Seed	Gangwon CCEI
Motionlabs	Healthcare	500 million	Pre-SeriesA Bridge	The invention lab
Memong	Salon matching platform	-	Seed	Manlap
Jeongyookgak	Food tech	30 billion

#Major Funding

• TOrder, a tablet-based ordering platform, has raised 300 billion won in investments. This represents a three-fold increase in its valuation compared to last year, when it was valued at 100 billion won.
• AGL, a golf booking system, has secured 30 billion won in funding. The company offers a solution that allows users to easily search for tee times, make reservations, and confirm bookings in real time. Agel’s solution is currently used in over 30 countries.

#Trend Analysis

 K-Startups Seek Survival Through Global Expansion

The first quarter of the year has drawn to a close, marking a noticeable shift in investment momentum compared to last year’s sluggish start.

In a bid for survival, startups that struggled to secure funding last year are diversifying their strategies, with many opting to expand globally. This approach has gained traction as March witnessed a surge in investment, particularly at the Series B and later stages.

A significant portion of the Q1 investments went to startups either based overseas or targeting global markets, with a considerable influx of funds from international investors. Going global is increasingly viewed as indispensable for burgeoning startups, facilitating business expansion, easing access to global capital, and potentially paving the way for future global public offerings. Although predominantly focusing on the B2B market, these companies exhibit diverse operational scopes.

Bear Robotics, a self-driving serving robot company headquartered in Silicon Valley, recently secured 80 billion won in investment, with strategic backing from global players such as LG Electronics. Similarly, Point2 Technology, a communication solutions firm also based in Silicon Valley, raised 30 billion won from Bosh Ventures for its E-tube platform, addressing the limitations of traditional cables. Stradvision, specializing in self-driving robots, maintains offices across the US, Germany, Japan, and China, securing 42 billion won from various global investors, including German firms. Aniai, a burger-cooking robot manufacturer, is relocating its headquarters to New York and eyes a listing on Nasdaq.

Beyond the US, numerous startups are expanding their reach across different countries. AGL, a golf booking system developer, is venturing into 30 countries, securing 30 billion won for expansion into Singapore, Japan, and Taiwan. T-Order, a table ordering service, plans to establish branches in the US and Singapore in the first half of this year, building upon its subsidiary in Canada established last year, with a 30 billion won investment. Elice Group, specializing in AI-driven education solutions, is bolstering its global presence through collaborations with US and Singaporean entities.

The successful Nasdaq listing of Coupang has spurred a wave of aspirations among growing startups to go global. While success remains uncertain, the growing interest of global investors in domestic startups signals a promising trend.