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[Korean Startup Weekly News #8] Korea’s Startup Boom: Mega-Funding Highlights in February 2024
Headline
Korea's dynamic startup surge in Feb 2024: FLEXCIL, ONE Store, Hey Dealer highlight global potential. Notable future investments emerge.
Gyeongsangnamdo's GSAT 2024 aims to boost entrepreneurship through contests, collaboration opportunities, and support programs nationwide, fostering a culture of innovation across manufacturing and non-manufacturing sectors.
Latest Funding News
Check out the latest funding news for Korean startups
WiseAI secures KRW 10 billion in Series B funding via convertible bonds, aiming to enhance AI tech, expand globally, and launch new solutions.
KCS Accelerates with $4.2M Investment for CreditNote Advancements KCS receives $4.2M funding, enhancing CreditNote to streamline credit checks for individual entrepreneurs.
QueryPie Developer, Chequer, Sets Eyes on Japanese Market with New Investments Chequer, the developer of QueryPie, secures significant investments from Salesforce Ventures and ZVC, aiming for Japanese market entry.
Doinglab Secures Series A Funding for Global Expansion of Food Recognition Tech South Korean AI health startup Doinglab secures Series A bridge investment from Insight Equity Partners for its FoodLens technology, used by over 50 businesses in Korea. The company also introduced CaloAI globally
Webcash Makes Strategic KRW 5 Billion Investment in ISTN to Broaden SAP-Integrated Solutions Webcash, a South Korean fintech firm, has invested KRW 5 billion in ISTN, aiming to expand its SAP-integrated financial solutions and foster a mutually beneficial business ecosystem with SAP partners.
NuriHaus Raises KRW 2 Billion in Series A Funding to Fuel Global K-Beauty Expansion NuriHaus, a leading platform for K-beauty brands, has raised USD 1.6 million in Series A funding. The company will use the funds to expand its global community and develop comprehensive solutions for K-beauty exports.
Naver Cloud Backs Persona AI: Advancing Korea’s AI Contact Center Frontier Korea's Persona AI receives investment from Naver Cloud, reinforcing its position in AI contact centers, known for its versatile applications across industries.
Korean company Readypost raised KRW 2 billion in pre-Series A funding for 'Chongone', a platform enhancing urban redevelopment meetings with electronic services, recognized for market excellence and government-aligned improvements.
Alicorn Secures Strategic Investment from Designhouse for Innovation Korean company Alicorn, operator of 'Rocketpunch' and 'JIBMUSIL,' secured strategic investment from Designhouse to showcase AI solutions and expand in the design industry through collaboration.
Dinoz Secures Pre-Series A for ‘Yugacrew’, Boosting Parenting Community Platform Dinoz, a Korean startup, raises pre-Series A for Yugacrew, a parenting app focusing on community growth and connecting mothers and children, with significant investor support and expansion plans.
RealDraw Secures SpringCamp Investment for Webtoon Innovation RealDraw, a Korean AI webtoon startup, secured additional funding from SpringCamp, enhancing their position to launch high-quality webtoons globally using AI and 3D technology.
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Korean Venture Capital News
Hashed invests in Taiko Labs, co-leading a $37 million Series A for Ethereum Layer 2 solutions using zero-knowledge proofs, aiming for high compatibility and decentralization with Ethereum.
Hashed leads a $4.5 million investment in Blackwing, a Layer 2 appchain on the Initia network, aiming to transform DeFi with reduced liquidation risk and modular blockchain technology.
HYPERITHM has invested in Superfluid, aiming to revolutionize virtual asset services by enabling streamlined token streaming on Ethereum, facilitating efficient distribution for DAOs and virtual asset operators.
CNTTECH builds a network in Saudi Arabia, facilitating fast-track market entry for Korean startups, with plans for formal agreements and collaborations with key Saudi institutions and investment firms.
Others
Mathpresso Launches Prep.Pie, AI Tutoring Service Tailored to US College Students Prep.Pie offers personalized study notes, customized practice sets, and an AI-powered quick solver to help students ace their exams.
MSS and MOFA of Korea have launched a program with seven overseas embassies to support Korean startups globally, focusing on trade promotions, investment consultations, and startup meetings.
MSS Korea, at Investopia in UAE, bolsters SME-venture cooperation, signing MOUs and fostering Korea-UAE economic ties, aiming for a second Middle East boom in innovation and investment.
H2O Hospitality, a Korea-based tech firm, partners with Saudi Arabia's NTDP to expand its digital transformation solutions for hotels, supporting the Saudi's tourism industry and Vision 2030 goals.