#Weekly Funding Overview[Aug. 15~ Aug. 19]
The total funds raised by Korean startups of this week is KRW 372.5 billion.
|AI-nomis||AI||-||Seed||Korea Investment Accelerator|
|12MONTH||Food delivery||2.5 billion||Pre-Series A||NAU IB Capital, BAROGO|
|Fliption||Virtual Human||-||Seed||Primer Sazze Partners, Content Technologies, Angel investor|
|Pluto project||US Stock||4.6 billion||Seed||Future Play, Mirae Asset Venture Investment, Angel investor|
|Nextchapter||Brand aggregator||20 billion||Series A||BRV Capital Management, Klim Ventures|
|Smart score||Golf||180 billion||VIG Partners|
|KPOPMAP||Kcontent||-||Pre-Series A||New Paradigm Investment|
|Onlive Productions||Education||-||Seed||Dohe International|
|Predictiv care||Healthcare||-||Naver D2SF|
|Quotalab||Equity Management||14 billion||Series A2||Hana Securities, Viva Republica, Access Ventures, Elefund, Draper Associates,|
|Able labs||BIO||3 billion||Pre-Series A||Mirae Asset Venture Investment, Future play|
|VegaX||Blockchain||6 billion||Series A||Danal Fintech|
|Fassto||Logistics||15 billion||Series C||Yuanta Investment|
|Trenbe||Luxury Fashion||35 billion||Series D||IMM Investment, Atinum Investment|
|Break & Company||Trading card platform||5 billion||Pre-Series A||ZVC, KB Investment, Strong Ventures, Signite Partners|
|Orwell Health||Mental healthcare||2.6 billion||Pre-Series A||Spring Camp, KB Investment, Tail, We Ventures, Dodam Ventures,|
|Yaholab||Kids care||-||Seed||Korea accelerator, The Inventionlab|
|gymt||Fitness||-||M&A||The post wave|
|Proxi healthcare||Smart Toothbrush||8.2 billion||Series A||Future Play, Timewise investment|
|QLI||Prophtech||-||Seed||Bon Angels Venture Partners|
|Greenbase||Reusable Battery||-||Seed||Jeju CCEI|
|Cigro||Ecommerce solution||-||Seed||Schmidt, Spring Camp, Tap Angel Partners, Synergy IB, Angel investors|
|Jejumini||Travel content||-||Seed||Jeju CCEI|
|Triplelabs||Jewelry||1.1 billion||Pre-Series A||Strong Ventures, Bass Investment|
|Bejewel||Jewelry||8 billion||Series B||Rakuten Ventures, CJ On Style, Softbank Ventures|
|Ldcarbon||Eco friendly||18.5 billion||Series A|
|Sharetreats||Mobile gift||20 billion||Series B||BH Investment, Partners Investment|
|Brandy||Fashion||29 billion||Korea Development Bank, Atinum Investment, Big Basson Capital, Mirae Asset Venture Investment, Breeze Investment|
- Golf platform Smartscore has raised KRW 180 billion from private equity funds. Its corporate value is estimated at KRW 900 billion, on the verge of reaching unicorn status.
- Luxury platform Trenbe has secured an investment of KRW 35 billion. It offers the lowest-priced luxury goods. After five years of operation, its transaction amount surpassed KRW 800 billion.
- ShareTreats, a mobile gift delivery business in Southeast Asia, has received a KRW 20 billion investment. Its transaction amount reached KRW 100 billion in total. It entered into agreements with companies like Shopee and Lazada.
- Equity management platform Quotabook has received KRW 14 billion in funds. 3,000 companies, including unicorn startups, use Quotabook to manage their shareholder lists and stock options.
Funding in Top Fashion Startups
One of the markets that has benefited from COVID-19 is the fashion industry. According to the data from Startup Recipe, as of August this year, KRW 297.6 billion has been poured into fashion startups. Various models are emerging in the market by combining technologies such as AI and big data. We looked at the services that have caught investors’ interest.
Last year, major domestic luxury platforms succeeded in securing large-scale investment. However, due to a number of circumstances, such as the deteriorating investment environment, the controversy over counterfeit luxury products, and overzealous marketing, competitive investment appears to have fallen this year. Still, expectations for a luxury platform remain. Trenbe raised KRW 35 billion in investment, while MustIt raised KRW 20 billion. Large corporations in particular have continued to show interest as they seek to create synergy with online fashion platforms. The soon-to-be unicorn fashion platform continues to draw investors’ interest. Investors are still interested in the soon-to-be unicorn fashion platform. Ably raised KRW 67 billion and was valued at KRW 900 billion. Brandi received KRW 29 billion in funds, raising hope for expansion.
Vertical platforms that target specific age groups are also growing rapidly. Startups that cater to particular ages and genders have recently emerged and are effectively attracting investment. Rapport Labs, a fashion app for women in their 40s and 50s, attracted a large investment of KRW 36 billion in February, after securing KRW 15 billion last year. Tailor Town, a fashion platform for men in their 30s to 50s, and Ludencity, a fashion curator for women in their 50s and 60s both received initial funding and are now expanding their services.
As the second-hand market expands, platforms for fashion and luxury second-hand items are also expanding quickly centered around Generation MZ. Craving Collector, which sells second-hand fashion items, and Fruits Family, where you can purchase vintage and designer products from home and abroad, both have been successful in attracting investment. Early-stage investors also paid attention to startups that trade used luxury items, like EndAnd Korea, Turnbag, and Pampam.
Large-scale funds are being invested in businesses that challenge the global market based on K-fashion. Dealicious, which offers digital transformation solutions for the Dongdaemun market, is one excellent example. Dealicious raised KRW 54 billion and announced its plans for global expansion, starting with Japan. Additionally, SwatchOn, a wholesale fabric platform with KRW 12 billion funding, has compiled a database of more than 200,000 fabrics and worked with numerous international brands. Gollala, another Dongdaemun wholesale platform, establishes online connections between domestic and international wholesale and retail merchants.
In addition, fashion solutions that combine metaverse and AR/VR are successful in garnering investment. Services that implement fashion products in virtual space include FNS Holdings, Z-emotion, and Oscar Futurera.
|Ably Corporation||E-commerce||KRW 67 Billion||Pre-Series C|
|Dealicious||K-fashion wholesale & retail||KRW 54 Billion||Series C|
|Rapport Labs||Fashion app for women in 40-50s||KRW 36 Billion||Series B|
|Trenbe||Luxury fashion||KRW 35 Billion||Series D|
|Brandi||Fashion||KRW 29 Billion|
|MustIt||Luxury goods platform||KRW 20 Billion|
|SwatchOn||Global fabric marketplace||KRW 12 Billion||Series B Bridge|
|FNS Holdings||StyleTech||KRW 10 Billion||Series B|
|Bejewel||Jewelry||KRW 8 Billion||Series B|
|Craving Collector||Second-hand fashion||KRW 5.5 Billion||Pre-Series A|
|Perfitt||AI-Tech startup||KRW 4 Billion||Series A|
|Gollala||Dongdaemun wholesale platform||KRW 3.3 Billion||Pre-Series A Bridge|