[StartupRecipe] TIPS Program Leads Korea’s Startup Investments Amid Investment Winter

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#Weekly Funding Overview

[Oct. 21~ Oct. 25]

The total funds raised by Korean startups of the week is KRW  193.45 Billion.

Company	Inudustry	Amount	Round	Investors
Planby Technologies	Generative AI architectural design	-	Grant	TIPS
Fanbridge	Fandom platform	-	Grant	TIPS
Elecell	Medical device	-	Grant	Deeptech TIPS
EverySim	Simulation software	-	Grant	Deeptech TIPS
Predictiv AI	Medical AI	-	Grant	Deeptech TIPS
Over The Hand	Virtuber tech	-	Grant	TIPS
Plan I	AI Solution	-	Grant	Scaleup TIPS
Unit Lab	Modular construction	-	Grant	TIPS
Granter	Financial solution	-	Grant	TIPS
RudaCure	Medical healthcare	-	Grant	Scaleup TIPS
SpaceVision	AI	-	Grant	TIPS
Blue Lions	Tax	-	SeedT	Kookmin University Technology Holdings, Dream Ventures
Ziorobot		200 million	Seed	The Invention Lab
Kite Dynamics	Instant Drone Delivery	200 million	Seed	The Invention Lab
Micropix	Total optcial solution services	200 million	Seed	The Invention Lab
HMedic Gear	Medical robot	200 million	Seed	The Invention Lab
Meta DX	Pet healthcare	-	Seed	Korea Investment Accelerator
Brain Ventures	AI	150 million	Seed	Korea Venture Investment
BODA	Image sensor	-	Seed
Millennial Works	AI Solution	-	Seed
L&DC	Proptech	-	Seed	Infobank
KPMI	Bulletproof material	10.5 billion	Series A	LB Investments, Hana Ventures, Enlight Ventures, KDB Infrastructure Asset Management, Tony Investments
Orbit Partners	Financial company	-	M&A	orbitech
11 Liter	Pet healthcare	-	Pre-Series A	JCH Investment, Kangwon University Technology Holdings
Vacatio	Fine host	6 billion	Series A	Laguna Investments, Primer Company Partners, Bass Ventures
Vaxdigm	Bio	2.7 billion	Series A	New Paradigm Investment, Korea Alternative Investment Asset Management, Infobank, The Invention Lab, Findus, Ritalco
Insera Solution	Fine & Fast Steering Mirror	3.3 billion	Series A	Daekyo Investment, Innopolis Partners, L&S Venture Capital, Solid X
Metainnotech	Proptech	-	Pre-Series A	Newborn Ventures
Deepvisions	Computer vision	600 million	Pre-Series A	MYSC
Factosquare	K-Beauty	800 million	Pre-Series A	Central Investment Partners, Korea Investment Accelerator, The Ventures, Antler Korea
Space V	Proptech	2.5 billion	Series A	Daekyo Investments, We Ventures
Workershigh	Retail tech	3.3 billion	Pre-Series A	CJ Investment, Kodit, Infobank, Kosmes
Momentstudio	Travel content	600 million	Pre-Series A	Blue Whale Invest, Newborn Ventures, Nanum Angels, Incheon CCEI

#Major Funding

• Ably Corporation has secured a significant investment of 100 billion won through a mix of new and existing shares. Alibaba, a repeat investor, plans to inject funds over three separate rounds. This latest funding values ABLY at 300 billion won based on the new shares.
• Media commerce company Iris Bright has raised 60 billion won in new investment. Iris Bright, a company owning over 20 brands, leverages social media advertising to drive product sales. The company is on track to achieve an impressive 90 billion won in revenue this year.
• Vacatio has secured 6 billion won in funding. Unlike traditional accommodation platforms, Vacatio connects hosts and consumers directly through social media. The company reported a transaction volume of 4 billion won in the first half of this year, marking a successful turnaround to profitability.

#Trend Analysis

TIPS Program Leads Korea’s Startup Investments Amid Investment Winter

Government grants are emerging as the primary driver of South Korea’s startup investments, according to monthly data collected by Startup Recipe. The Tech Incubator Program for Startup (TIPS), a flagship initiative supporting early-stage startups, has become particularly influential in the ecosystem.

Launched in 2013, TIPS operates as a private sector-led investment program with a unique approach: the government provides additional funding to startups that successfully secure private investment. This model has proven effective as a growth catalyst for early-stage companies.

Despite the current downturn in early-stage startup investments due to market uncertainties, TIPS continues to demonstrate robust performance. Government grants consistently represent 30-40% of monthly investment deals, providing crucial support to the startup ecosystem.

The program’s success has spawned several variants, including Pre-TIPS, Post-TIPS, Scale-up TIPS, and Deep-tech TIPS, creating a comprehensive support system that helps startups maintain growth momentum even during challenging investment periods.

Recent data from January to October reveals interesting sector trends among TIPS participants. Bio/Healthcare leads with 22% of investments, followed by Software (18%), Consumer Tech (13%), and Manufacturing (12%). ESG initiatives account for 8%, while Automotive/Mobility, Media/Content, and Fintech sectors each represent 5% of investments.

Investment patterns show a clear evolution: while early-stage programs like TIPS and Pre-TIPS include numerous B2C platform companies, advanced stages focusing on deep tech and scale-up increasingly favor R&D-intensive sectors such as Bio/Healthcare, Manufacturing, and Software.

Looking ahead, the government plans to expand its support. The Ministry of SMEs and Startups has announced a significant 1 trillion won budget allocation for 2025, focusing on three key strategies: fostering deep tech startups, developing a global startup ecosystem, and energizing regional startup communities.

These initiatives, coupled with the strengthening of the TIPS program and new specialized support systems, are expected to provide crucial stability for startups during the current investment winter, ensuring continued growth opportunities in the Korean startup ecosystem.