Scroll to top
© 2020, Startuprecipe theme by Rssow

[StartupRecipe] Korean Startups Founded by Women Are Diversifying

#Weekly Funding Overview

[May. 8 ~ May. 12 ]

The total funds raised by Korean startups of this week is KRW 8 billion.

TG SocietyMobility-SeedStrong Ventures, HB Investment
Jun CompanyMobility-SeedKimgisa lab
SocialerusYoutube channel marketplace-SeedPathfinder
BoltaTax solution-SeedSpring Camp
AM ManagementDigital Asset solution-SeedD.CAMP, MOZAIC, Angel investor
EcoinenergyUpcyclying-Pre-Series A BridgeMYSC
AES TechGreen Energy-SeedSchmidt
Sneakersreal time Info marketplace500 millionSeedCJ Investment, Ulsan CCEI
L4BOXEducation-SeedENSL Partners
Deep BlueDotConsumer feedback3.5 billionSeedSoftbank Ventures, 500 Global, Fast Ventures, Kim Dong-shin, CEO Sendbird
Wave LifestyletechKitchen Robotics4 billionSeries A1Shinhan Venture Investment, Signite Partners, Lighthouse Combine Invest, Spring Camp, Shinhan Capital
YESUNG GLOBALConstruction equipment-Pre-Series AY&Archer
BBTreeDigital content-M&ASadoll metalab

Major Funding

  • WaveLifestyleTech, a food tech robotics company, has successfully raised KRW 4 billion in funding. Established in 2018, the company specializes in providing advanced robotics solutions and kitchen management AI capabilities, including their innovative Robot-as-a-Service (RaaS) offering.
  • DeepBlueDot has secured KRW 3.5 billion in seed investment. The company specializes in operating Syncly, an AI-powered solution for analyzing customer feedback. Through Syncly, users can efficiently manage and consolidate customer feedback from multiple channels.
  • Sneakers, a platform for live streaming and information sharing focused on renowned venues, has successfully secured an investment of 500 million won. The platform aims to provide real-time information to facilitate person-to-person transactions (C2C), enhancing the overall user experience.

#Trend Analysis

Korean Startups Founded by Women Are Diversifying

Korean startups founded by women are experiencing a remarkable diversification across various sectors. Historically startups founded by women primarily focused on beauty, childcare, and kids’ education, where they had a significant presence. However, there has been a notable surge in tech startups lately, with female founders gaining ground, particularly in the deep tech sector.

“In terms of attracting investments, the consumer tech sector remains dominant, while the fashion and beauty industry, traditionally associated with women, continues to thrive. Additionally, the pet tech sector has has gained a significant market share. In recent years, there has been a surge in the number of women-owned companies in digital healthcare and software as a service (SaaS).

In the healthcare domain, services addressing sleep tech, senior care, and wellness are gaining momentum, alongside advancements in medical devices. Simultaneously, women entrepreneurs are making strides in software, venturing into generative AI and offering B2B SaaS services. This shift represents a significant change, considering the scarcity of software-related companies founded by women in the past.

Additionally, a few women-led startups are emerging in gaming, manufacturing, and agriculture, contributing to the overall diversity of the startup ecosystem.

However, all of the leading women-founded companies in their respective sectors received large investments last year. Due to the deteriorating investment climate, no large investments have been reported this year.”.

Besides the sector diversity, there has been an encouraging uptick in the number of companies securing funding. In 2020, a mere 51 women’s companies received funding, but in 2022, that figure more than doubled to 114, indicating a significant increase. Although many of these investments are in the early stages, it is encouraging to see more women venturing into entrepreneurship.

Sectors of Women-led Startups that Received Funding in 2023
Investment Stages of Women-led Startups that Received Funding in 2023

Moreover, support for women’s businesses is expected to improve, as the South Korean government recently unveiled plans to inject a record-breaking 10.1 billion won this year into specialized projects aimed at bolstering women’s businesses.

The diversification of Korean startups founded by women is a positive development as it signifies a breaking of traditional gender roles and a valuable contribution to the economy.

It shows that women are breaking into traditionally male-dominated fields and are making a significant contribution to the economy. The government’s investment in women’s businesses further reinforces this trend, suggesting a future increase in the number of women-led startups.

sign up for Startup Recipe newsletter


Access to the latest Korean startup news and startup database for free

sign up for Startup Recipe newsletter