[StartupRecipe] Marine Tech Startups Riding the Wave of Blue Economy Growth

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#Weekly Funding Overview

[Oct. 14~ Oct. 18]

The total funds raised by Korean startups of the week is KRW 73.6 Billion.

Company	Inudustry	Amount	Round	Investors
Sanho Ocean Tech	Fishing	-	Grant	TIPS
Beyond Robotics	Crop harvesting robots	-	Grant	TIPS
Fractal FN	Fintech	-	Grant	TIPS
Cubig	Private synthetic generation	-	Grant	Scaleup TIPS
3i Solution	Industrial Neutron Composition Analyzers	-	Grant	Deeptech TIPS
Dongju	Webtoon production	-	Grant	TIPS
Textilere	Textile recycling	600 million	Seed	MYSC
Found Object	Recycled plastic material trading platform	-	Grant	TIPS
Inblog	SEO SaaS	-	Seed	Mashup Ventures, Spring Camp
Curiosis	Lab Automation	13 billion	Pre IPO	Stick Ventures, Time Folio Capital, Shinhan Capital, Kiwoom Investments
Posture AI	AI posture science	-	Grant	TIPS
BYAHT	Financial solution	-	Grant	TIPS
STH	Hydrogen fuel	-	Grant	Deeptech TIPS
Leo Space	Space Exploration	-	Grant	Deeptech TIPS
TMEV Net	Electric vehicle charging	-	Grant	Deeptech TIPS
ATB Lab	Battery	-	Grant	Deeptech TIPS
Bellterapeutics	Digital therapeutics	-	Grant	Deeptech TIPS
AHES	Hydrogen	-	Grant	Deeptech TIPS
Ocean Drone Technology	Marine mobility	-	Grant	TIPS
ABR	Battery Recycling	-	Grant	TIPS
LinkDNS	FoodTech	-	Seed	Korea Investment Accelerator
Waycen	Meditech	-		Sparklab Group
Team Robotics	Industrial mobile robots	-	Seed	Mashup Ventures, Seoul National University Technology Holdings
Bistool	Facial silicone implants	-	Pre-Series A	The Invention Lab
Air Premia	Airlines	-	M&A	Daemyung Sono Group Sono International
Enterobiome	Microbiome-based nutraceuticals	11 billion	Pre-Series C	Methystone, IM Investment Partners, HB Investment
One Cup	Fintech	-	Seed	Y&Archer
MenuTalk	Table ordering system	-	Seed	Genaxis
Lifelog	Generative AI	-	M&A	Okestro
Insight FI	Functional food	-		Korea University Technology Holdings
Rebom	ODMs	-		Dongkook Pharmaceutical Co., Ltd
Genius	Beauty branding	27 billion		Metiston Equity Partners
emcrafts	Electron microscope	7 billion		Shinhan Venture Investment, Korea Development Bank, Comes Investment, SL Investment
AIGEN Sciences	Bio	12 billion		Partners Investments, Quad Asset Management, Medytox Venture Investments, Premier Partners, K2 Investments, Scale-Up Partners
Cookie Place	Commission Brokerage Platform	2 billion	Pre-Series A	Bon Angel Venture Partners
DovieStudio	B2B Sales Platform	-	Pre-Series A	Mesh Up Ventures, Schmidt
EX Healthcare	Healthcare	1 billion		Kodit

#Major Funding

• Curiosis, a leader in lab automation, has secured pre-IPO funding. The company’s flagship product is the world’s first 4th-generation live-cell imaging system designed for lab automation. With this new investment, Curiosis plans to expand its production capacity.
• Genius, a branding company for beauty clinics, has raised 30 billion KRW. Genius provides branding and marketing solutions to hospitals while also operating a distribution business for medical supplies targeted at beauty clinics. The company has seen solid revenue and is now focusing on expanding internationally, with plans to establish 10 locations in Indonesia by the end of this year.
• Cosmetics R&D company Rebom has been acquired by Dongkook Pharmaceutical. Dongkook purchased Rebom Cosmetics’ shares for 30.66 billion KRW, securing a 53.66% stake. This acquisition is part of Dongkook’s strategy to diversify its business and strengthen its growth potential.

#Trend Analysis

Marine Tech Startups Riding the Wave of Blue Economy Growth

The burgeoning blue economy is witnessing a surge in marine and fisheries startups leveraging cutting-edge technologies to conserve and develop marine ecosystems. These innovative ventures span diverse sectors, including marine monitoring, shipping, aquaculture, and seafood e-commerce. An analysis of Korea’s blue economy reveals several key sectors attracting significant investor attention.
The maritime mobility and logistics sector, encompassing ships and drones, has garnered the lion’s share of capital influx. VINSSEN, a company offering eco-friendly marine mobility solutions, exemplifies this trend. The firm recently secured 20 billion won investment and has set its sights on an initial public offering by 2026. Concurrently, marine recycling initiatives aimed at ecosystem preservation are gaining traction among investors.

Startups focusing on the automation, mechanization, and smart transformation of traditional aquaculture practices are emerging as formidable players. Government projections estimate the global fisheries equipment market to reach a staggering 137 trillion won by 2027. However, the domestic market is anticipated to lag significantly, hovering around 3 trillion won. To bridge this gap and stimulate market expansion, the government has implemented robust support measures.

The seafood e-commerce sector has demonstrated its potential, with The Pirates, a prominent platform, securing a notable 16 billion won investment in 2022. However, recent trends indicate a cooling of investments in B2C platforms. Simultaneously, the cultivated seafood sector is experiencing growth, bolstered by government backing aligned with the expanding alternative food market. A 28.6 billion won government investment over five years aims to advance alternative seaweed and cultivated seafood technologies. Startups such as Baobab Healthcare, Seaweed, and Cellqua are at the forefront of this innovative field.
While the aggregate investment in marine and fisheries startups remains relatively modest, the market is experiencing robust growth, propelled by proactive government support. Initiatives encompassing startup incubation, commercialization assistance, and investment incentives are fostering new industries and nurturing promising companies.

The marine and fisheries sector is rapidly emerging as a cornerstone of the blue economy, presenting substantial opportunities for sustainable growth. Although many startups are in nascent stages and the market size remains constrained, the synergistic collaboration between government and private sectors is poised to unlock unprecedented potential in the coming years. The convergence of marine conservation imperatives and technological innovation further enhances the sector’s growth prospects, likely to catalyze increasing investor interest.