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[StartupRecipe] Top 10 Most-Funded Startups in May

#Weekly Funding Overview

[May 16~ May. 20]

The total funds raised by Korean startups of this week is KRW 146.3 billion.

Studio XID KoreaDesign Tool10.5 billionLB Investment, Mirae Asset Venture Investment, HB Investment, Dev Sisters Ventures, Intops Investment
HeadlessD2C SaaS700, Hyundai Technology Investment
DodamindInteractive content-GRANTTIPS
Fridge crewPettech-GRANTTIPS
OGWEB3-SeedFuture Play
thelapisHomeyoga300 millionPre-Series AHyundai Marine & Fire Insurance
LRHRClothes repair platform1.1 billionPre-Series ABonAngels Venture Partners, Bass Investment, Smilegate Investment
NuventData platform-Pre-Series AHana Ventures, Devsisters Ventures
Armored FreshFoodtech27 billionPre-Series BKorea Development Bank, Hanwha Investment & Securities, Daesung Startup Investment, Sejong Venture Partners, UTC Investment, Hana Financial Investment, Open Water Investment, Lotte Ventures, D3 Jubilee Partners, NH Venture Investment, Aju IB Investment
Puzzle AIVoice EMR-Series BKyobo Securities, Mirae Asset Venture Investment, DT&Investment, Industrial Bank of Korea, POSCO Technology Investment, KrunVentures, Nau IB Capital, ACE Investment & Finance, DaNaA Data
FastviewContent Commerce10 billionSeries ADSC Investment, Sparklab Ventures, Feynman Asset Management, Partners Investment
HandhugCreator Commerce7.7 billionSeries AHanwha Life Insurance, The Wells Investment, Innopolis Partners, Shinhan Capital, KClavis Investment
GOAT CompanyEcommerce-SeedIPS Ventures
UMCLASSOneday Class-SeedKorea Venture Investment
Branch and BoundCoding School1 billionSeedKlim Ventures
Loonshot CompanyCamping Car-SeedKakao Ventures
FuturefoundStartup Incubator-The Invention Lab, CNTtech
GatdaESG2.5 billionHana Financial Investment PI, Quantum Venture Korea, IGIS Asset Management
VIVESTUDIOSArttech9.5 billionNPX Private Equity
ApartmentaryInterior30 billionSeries CReverent Partners, Shinhan Financial Group, Korea Development Bank, Korea Investment & Securities, Daol Investment
ModhausBlockchain-Pre-Series ANAVER D2SF, Future Play, Timewise Investment
MedipalDigital Healthcare-Pre-Series AInsight Equity Partners, Bass Investment, Digital Healthcare Partners
RudaCureBio6 billionSeries AY&Archer, Hanlim, CKD Venture Capital
NoutecompanyDigital stationery2.2 billionPre-Series AStrong Ventures, Capstone Partners, Schmidt
Travel MakersTravel1 billionPre-Series APearl Abyss, Magellan Technology Investment, Credit Guarantee Fund
KmbioBIO2 billionSeries ANew Paradigm Investment, Korea Alternative Investment Asset Management, Kookmin University Technology Holdings
DrapeAI1 billionPre-seedKB Investment, Angels
StreamiBlockchain30 billionSeries BKB Investment, Z Venture Capital, DCG, Strong Ventures
NondisclosureHotel solution-M&AThehyoosik
StorybaljeonsoTravel content-M&ACost

Major Funding

  • Art tech company Vive Studios raised KRW 9.5 billion in funding. They produced BTS’s virtual concerts. It aims to become a global company through technical improvement with this investment.

#Trend Analysis

Top 10 Most-Funded Startups in May

The startup investment market is getting worse. The same goes for the global market as well as the Korean startup investment market. The monthly investment is likely to drop to its lowest point this year in May, with funds focused on a small number of promising companies. Here we introduce the 10 companies that received the most funding in May.

1. OHouse operator Bucket Place raised KRW 230 billion in investment and reached unicorn status with a corporate value of KRW 2 trillion. OHouse has grown into a platform that sells one piece of furniture every seven seconds. It hopes to become a lifestyle super app by enhancing technology and infrastructure and entering overseas markets. 

2. Apartmentary, a home interior and remodeling startup, secured KRW 30 billion in funding. It addresses the problem of asymmetric information in the home interior market, and it recently created a local base brand to broaden the offline experience. The company plans to solidify its position in the domestic living market and actively advance into overseas markets with the funds.

3. Streami, the operator of the virtual asset exchange Gopax, attracted an investment of KRW 30 billion. Its corporate value is estimated at KRW 370 billion. It opened the KRW market after the enforcement of the Act on Reporting and Using Specific Financial Transaction Information. Its potential for growth has been recognized, and the funds will be used for aggressive marketing

4. Fandom Business BeMyFriends raised KRW 22.4 billion from CJ and promoted Fandom services jointly. It plans to supply exclusive content using CJ’s music and video IPs and networks and produce creator NFTs.

5. Armored Fresh closed on KRW 27 billion in funding. It developed almond milk-based vegan cheese and launched it globally. The company will accelerate its expansion into the US and Singapore markets with this funding.

6. Logistics platform Roadwin Human received an investment of KRW 17.5 billion. It plans to increase its logistics and delivery vehicle operations, as well as attract new B2B customers in the vehicle management sector based on consignment services. The company aims to go public in 2024.

7. EVR Studio raised KRW 17 billion from Cheil Worldwide. It will improve its metaverse capabilities and build a metaverse-based business model with Cheil Worldwide.

8. Studio XID received a KRW 10.5 billion investment. Its service ProtoPie is a no-code tool for designers and is used by companies such as Google, Amazon, and Microsoft. The company will establish a branch in Canada and target the North American market.

9. Nanosatellite startup Nara Space Technology raised KRW 10 billion in investment. It produces its own nano satellite systems and parts and even provides a platform for utilizing satellite data. In the first half of next year, the company plans to launch its own satellite, Observer 1A, into space and test its performance.

10. Fastview, a content commerce business, got KRW 10 billion in funding, bringing the total amount raised to KRW 12.5 billion. It operates content monetization solutions for content creators and platform operators. It will secure talent with the funds.

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