[Korean Startup Weekly News #35] Spoon Labs raised $90M from Krafton for Global Short-Form Drama Expansion

[Korean Startup Weekly News #35] Spoon Labs raised $90M from Krafton for Global Short-Form Drama Expansion

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Headline

Spoon Labs Secures Major Investment from Krafton for Global Short-Form Drama Expansion Spoonlabs (Spoon Labs) secured a 120 billion KRW (90 million USD) investment from KRAFTON Inc. for its global short-form drama platform Vigloo, expanding its content reach.


Korean Government News

Seoul Unveils ‘Try Everything 2024’ to Propel Startups and Drive Open Innovation Seoul hosted "Try Everything 2024," a global startup festival, featuring AI-driven solutions, investment programs, and open innovation.

Foreign Startups Pitch to Korean Investors at Global Startup Center Event The Ministry of SMEs and Startups, Republic of Korea held a Foreign Entrepreneurs Investment Meetup at the Global Startup Center (GSC) , connecting foreign founders with Korean investors.

KISED’s Global Relay IR in Paris and London Links Korean Startups with European Investors KISED (Korea Institute of Startup & Entrepreneurship Development) hosted the "Global Relay IR" in Paris, connecting Korean deep-tech startups with European investors. The event aimed to support global investment and foster market entry for innovative startups.


Latest Funding News

Check out the latest funding news for Korean startups

Vueron Secures $16.5M in Series A to Boost LiDAR-Based Autonomous Driving Solutions Vueron Technology raised $16.5M in Series A funding to expand its LiDAR-based ADAS and autonomous driving solutions.

Korean AI Startup Open Research Raises $7.5M to Launch Advanced Search Service Open Research Inc. , founded by former Kakao Brain execs, secured 10 billion KRW to launch a real-time AI search service for professionals.

Trillion Labs Secures $4.2M to Build Korea’s First Sovereign LLM Trillion Labs secured $4.2M in funding to build a Korean LLM. Their goal is to create AI that understands Korean culture and supports AI leadership.

Space Oddity Secures Series B Funding to Expand K-Pop Fandom Services Globally Space Oddity, backed by KC Ventures and new investors, secured 5 billion KRW to boost its K-Pop Fandom Incubating Service for global outreach.

FUST Lab Secures Pre-Series A Funding to Expand Ultrasonic Emulsification Technology FUST Lab. , using focused ultrasonic tech, secured KRW 3.1B funding to expand its emulsification equipment and PFAS treatment device globally.

24.5 Corp’s ‘Super Intern’ Gains TIPS Backing and Follow-up Investment to Expand AI Focus Korean startup 24.5 Corp’s ‘Super Intern’ secured follow-up investment and TIPS program selection. The platform focuses on AI recruitment, utilizing top talent from the career platform ‘Ssgsag’.

Series Ventures Backs SkinSeoul’s AI-Powered Platform to Revolutionize Global K-Beauty SkinSeoul , an AI-powered beauty e-commerce platform, secured seed funding to enhance global distribution of Korean cosmetics, focusing on localization, pricing, marketing, and AI-driven personalization.

Jeju CCEI Seed Investment Fuels WondersLab’s AI and JIN System’s Location Tech 제주창조경제혁신센터 (Jeju CCEI) invested in WondersLab. and JIN System. WondersLab develops AI tools for businesses, while JIN System provides location tracking. These investments aim to support their growth and global expansion.

ExFlyer Secures CNTTech Investment to Expand MUST-AD to 3,000 Stores by next year Korean startup ExFlyer, backed by CNTTECH CO., LTD. , expands its MUST-AD platform to streamline franchise advertising. The company targets 3,000 stores and leverages AI for targeted ads.

D.circle Raises Seed Funding to Launch AI-Powered Research Matching Platform RnDcircle D.circle raised seed funding to launch RnDcircle, an AI-driven platform that streamlines research partner matching, reducing searching time and enhancing industry-academia collaboration.


Korean Startup Interview

Meet startups that are striving for global expansion through exclusive interviews

[Korean Startup Interview] KINGO Bio Challenges Global Giants with Innovative Clean Up Beads Solution ‘GraBeads’ KingoBio Inc. , an ambitious Korean biotech startup, has developed a clean-up bead solution 'GraBeads,' enabling the early diagnosis of various diseases. They are now knocking on the door of the global market.

[Korean Startup Interview] OCULIGHT: Shining a Light on Safer, More Accurate Cataract Surgeries Oculight Co., Ltd 's FDA-approved iChopper, paired with the LED-based iVision, aims to reduce complications and patient discomfort during cataract surgeries, while advancing into global markets.


Others

Kim Bong-jin’s Grandeclip Completes Acquisition of AMCR, Aims for Global Golf Wear Market Grande Clip , founded by former Baemin chairman @Kim Bong-jin, acquired AMCR, the operator of AMAZING CRE and ICEBERG GOLF, aiming to expand Amazing Cre into a global premium functional apparel brand.

KITA and IFA Partner to Propel Korean Startups into the European Market Korea International Trade Association(KITA) and IFA Berlin signed an MOU to connect global startup platforms, enhancing Korean startups' entry into European markets.

Naver Collaborates with Saudi Arabia for Arabic-based LLM Development and AI Growth Naver partnered with Saudi Arabia’s SDAIA at the Global AI Summit. They will collaborate on AI, cloud, data centers, and robotics. This aligns with Saudi Arabia’s Vision 2030 and strengthens Naver’s global presence.

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