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[StartupRecipe] 10 Promising startups to watch

#Weekly Funding Overview

[June. 13~ June. 17]

The total funds raised by Korean startups of this week is KRW 63.6billion.

BuildpropProptech100 millionCommax Ventures
TechyCouple Matching-SeedAlphabrothers
United AssociatesEducation-GrantTIPS
TrineedleLivestreaming1 billionPre-Series AKB Investment, Korea Omega Investment Finance
ZenerateProphtech-Pre-Series ANeovalue
FloaticLogistics-Naver D2SF
SafeticsRobotics-Naver D2SF
TwolinecodeCloud Platform10 billionOasis Equity Partners
VNTCDigital Healthcare-Tuna Investment
FitpetPettech7 billionIndustrial Bank of Korea, Stone Bridge Ventures
Uproot companyBlockchain-APPS311
QuantifiedESGESG research-Pre-Series AKingsley
GazilabWellness-SeedKakao Ventures
AruWomen healthcare-SeedFuture Play, Sopoong Ventures, Ignite XL, Tips
KinavaGreen venture4 billionSeries AKDB Development Bank, POSCO Technology Investment, Kona Investment, Future Technology Holdings, Coolidge Corner Investment
We arContent4 billionNAVERZ, SNOW, Korea Investment Partners
AlmightycampusEducation-SeedSpring Camp, BonAngels Venture Partners, Fast Ventures
VideoMonsterVideo Solution-Series ABlue Point Partners, KYOWON Group, Miracle lab
TerrablockEco friendly-Pre-Series ANewborn Ventures
Scalar dataElectronic car charging-GS에너지
MR.MINDAI1.5 billionPre-Series AHana Ventures
SsenstoneSecurity5 billionKDB Development Bank
MustitLuxury Platform20 billionCJ ENM
KitcheninthelabB2B Food ODM-SeedCNTTech
UnitedBordersKorean food market-SeedBigbasin Capital
DagyeomAI bigdata-SeedCNTTech
MentoreetCoding School-M&AHunet
FutureplayAccelerator15 billionPre-IPOSM Entertainment, Home & Shopping, Red Hill Asset Management, DS Asset Management, KT

Major Funding

  • Mustit, a luxury sales platform has raised KRW 20 billion in funding from CJ EMN. The two companies promote cooperation in various business sectors such as commerce business, entertainment content production. Mustit also plans to launch a mobile live commerce with CJ ENM’ s support.
  • Futureplay, a startup accelerator, secured pre ipo funding of KRW 15 billion at a valuation of KRW 200billion. Established in 2013, the company has invested more than 190 startups.

#Trend Analysis

The government selected 60 baby unicorns with the potential to grow into preliminary unicorns worth more than KRW 100 billion. There were 284 companies that applied for this Baby Unicorn 200 project, with a 4.7:1 competition ratio. The selected baby unicorns will receive up to KRW 300 million in business funds, up to KRW 5 billion in special guarantees, and up to KRW 10 billion in policy funds from Korea SMEs and Startups Agency.

<10 startups out of 20 major startups>

Hexlant =It runs Octet, a blockchain infrastructure service that aids in the creation of Web3.0 wallets. It is a solution that lets you create a WEB3 wallet system as well as a deposit and withdrawal security infrastructure without having to know anything about blockchain.

Heum Labs=It provides a tax ledger and a tax refund platform for business owners. It offers real-time chat consultation, sales, profit and loss management, and a dashboard with integrated payroll administration.

Mobile Tech=It produces maps for autonomous vehicles with AI-based 3D spatial information. 

Ronfic=It’s a company that creates smart fitness machines. It developed data-driven tailored training programs and supplied them to domestic medical clinics and sports athletes.

Lounge Lab=It provides various unmanned solutions, such as barista robots and ice cream robots, that can be used in a variety of settings, from food retail to everyday areas, through artificial intelligence and robotics technology.

The PlantEat =It is a plant-based alternative food tech company developing plant-based mayonnaise and plant-based alternative milk.

Wright Brothers=It is a bicycle-specialized marketplace where you can safely trade clothes and parts, including certified used bicycles that have passed X-ray inspection and 61 expert evaluation diagnosis.

Allra Fintech=It operates Allra, a super-simple integrated selection service that pays social commerce and open market sellers’ trade costs in advance.

T-order=It is a tablet-ordering, on-demand data platform that helps offline businesses go digital.

ExoSystems=It develops an AI-based musculoskeletal digital medical device, providing a digital care solution that consists of wearable medical devices and user apps.

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