[StartupRecipe] Top 10 Most-Funded Startups in May

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#Weekly Funding Overview

[May 16~ May. 20]

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

Company	Industry	Amount	Round	Investors
Studio XID Korea	Design Tool	10.5 billion		LB Investment, Mirae Asset Venture Investment, HB Investment, Dev Sisters Ventures, Intops Investment
Headless	D2C SaaS	700 million	Seed	D.camp, Hyundai Technology Investment
Dodamind	Interactive content	-	GRANT	TIPS
Fridge crew	Pettech	-	GRANT	TIPS
OG	WEB3	-	Seed	Future Play
thelapis	Homeyoga	300 million	Pre-Series A	Hyundai Marine & Fire Insurance
LRHR	Clothes repair platform	1.1 billion	Pre-Series A	BonAngels Venture Partners, Bass Investment, Smilegate Investment
Nuvent	Data platform	-	Pre-Series A	Hana Ventures, Devsisters Ventures
Armored Fresh	Foodtech	27 billion	Pre-Series B	Korea 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 AI	Voice EMR	-	Series B	Kyobo Securities, Mirae Asset Venture Investment, DT&Investment, Industrial Bank of Korea, POSCO Technology Investment, KrunVentures, Nau IB Capital, ACE Investment & Finance, DaNaA Data
Fastview	Content Commerce	10 billion	Series A	DSC Investment, Sparklab Ventures, Feynman Asset Management, Partners Investment
Handhug	Creator Commerce	7.7 billion	Series A	Hanwha Life Insurance, The Wells Investment, Innopolis Partners, Shinhan Capital, KClavis Investment
GOAT Company	Ecommerce	-	Seed	IPS Ventures
UMCLASS	Oneday Class	-	Seed	Korea Venture Investment
Branch and Bound	Coding School	1 billion	Seed	Klim Ventures
Loonshot Company	Camping Car	-	Seed	Kakao Ventures
Futurefound	Startup Incubator	-		The Invention Lab, CNTtech
Gatda	ESG	2.5 billion		Hana Financial Investment PI, Quantum Venture Korea, IGIS Asset Management
VIVESTUDIOS	Arttech	9.5 billion		NPX Private Equity
Apartmentary	Interior	30 billion	Series C	Reverent Partners, Shinhan Financial Group, Korea Development Bank, Korea Investment & Securities, Daol Investment
Modhaus	Blockchain	-	Pre-Series A	NAVER D2SF, Future Play, Timewise Investment
Medipal	Digital Healthcare	-	Pre-Series A	Insight Equity Partners, Bass Investment, Digital Healthcare Partners
RudaCure	Bio	6 billion	Series A	Y&Archer, Hanlim, CKD Venture Capital
Noutecompany	Digital stationery	2.2 billion	Pre-Series A	Strong Ventures, Capstone Partners, Schmidt
Travel Makers	Travel	1 billion	Pre-Series A	Pearl Abyss, Magellan Technology Investment, Credit Guarantee Fund
Kmbio	BIO	2 billion	Series A	New Paradigm Investment, Korea Alternative Investment Asset Management, Kookmin University Technology Holdings
Drape	AI	1 billion	Pre-seed	KB Investment, Angels
Streami	Blockchain	30 billion	Series B	KB Investment, Z Venture Capital, DCG, Strong Ventures
Nondisclosure	Hotel solution	-	M&A	Thehyoosik
Storybaljeonso	Travel content	-	M&A	Cost

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.