[Korean Startup Weekly News #56] Korea’s Venture Investment Rebound in 2024, Outpacing Global Trends

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Catch up on last week’s top stories from the startup ecosystem in the Korean Startup Weekly News.

Headline

MSS Reports Korea’s Venture Investment Rebound in 2024, Outpacing Global Trends Korea’s venture investment reached $8.95B in 2024, up 9.5% YoY, defying global trends. MSS aims to accelerate growth with a $750M Fund of Funds and expanded policy-driven investments.

Korean Government News

Korea’s MSS Launches 2025 Collaboration Program with Global Giants to Boost Startup Growth Korea's MSS introduces a new global initiative with 14 programs including partners like IBM and NVIDIA, aiming to nurture startups in AI, aerospace, and more for global expansion.

Korea Launches Fabless Startup Support to Boost Semiconductor Innovation Korea's MSS introduces a comprehensive support scheme for fabless startups to strengthen the system semiconductor industry through strategic partnerships.

Seoul Launches Seven Key Strategies to Lead AI-Driven Industrial Transformation Seoul announced seven key strategies to become a global AI hub, focusing on talent, infrastructure, investment, industry convergence, global collaboration, public engagement, and administrative innovation.

Latest Funding News

Check out the latest funding news for Korean startups

SOLIVIS Secures $9.46 Million for New Solid Electrolyte Production Facility in South Korea South Korean company SOLIVIS has raised $9.46 million in Series B bridge funding to establish a mass-production plant for solid electrolytes, aiming to enhance global battery safety.?

ACT-ion Raises $7.5M Pre-Series A to Scale Up Next-Gen Cathode Manufacturing ACT-ion secured a $7.5M Pre-Series A to scale its continuous cathode manufacturing. The company aims to accelerate commercialization and expand into EVs, drones, power tools, and other battery applications.

Ascent Korea Raises $2.86M, Plans to Pioneer Consumer Insights in U.S. Market With a new investment of $2.86M and a total funding of $7.5M, Ascent Korea is gearing up to extend its global footprint in consumer insights, focusing on the U.S. and Japan.

Enkorwithus Raises $1.4M Funding to Expand Long-term Rental Platform for Foreigners With a new investment of $1.4 million, Enkorwithus is set to improve and expand its services for foreigners needing long-term housing in Korea, aiming for global growth.

Forparents Secures Pre-Series A Funding for Senior Travel Service ‘Honored’ Forparents secured pre-Series A funding for Honored, a premium travel service for active seniors. The service has gained traction with 15,000 users and high satisfaction ratings, aiming to enhance seniors’ quality of life through tailored travel and lifestyle solutions.

Mission Driven Secures Second Seed Round Investment from MYSC Mission Driven secured funding to expand Curious, aiding senior creators. The platform offers courses for middle-aged individuals to develop skills and earn income.?

OQT Secures $2.25M Seed Investment to Advance Neutral Atom QPU Development OQT secured a $2.25M seed investment from Kakao Ventures and Bluepoint Partners to develop scalable neutral atom QPUs, aiming to advance quantum computing commercialization and industry leadership.?

Magnendo Gains Backing from BASS Ventures, Kakao Ventures for Robotic Brain Neurotherapy Magnendo, a Korean medtech startup, secured investment to advance its robotic brain neurotherapy technology, enabling safer, more efficient procedures and expanding into remote treatment applications.?

Quabble by museLIVE Gains DHP Investment to Revolutionize Mental Health Care museLIVE secured investment from DHP to expand Quabble, a mobile mental wellness platform designed to help younger generations manage stress, anxiety, and depression through proactive emotional self-care.

Groket Secures Early-Stage Investment from SparkLabs Bueno Company secured funding to enhance Groket, a mart promotion solution. Groket automates marketing tasks and plans to introduce AI-driven features for further efficiency.

GemGem Therapeutics Secures Bridge Funding to Expand AI Rehabilitation Solutions GemGem Therapeutics secured bridge funding to enhance AI rehabilitation solutions, expand globally, and enter the U.S. market, starting with GemGem400’s clinical validation and accessibility improvements.

GEOGRID Gains 500 Global Backing to Revolutionize Building Water Purification GEOGRID, a pioneer in smart building water purification, partners with 500 Global to tackle global water quality issues, planning expansions in Southeast Asia, the Middle East, and North America

Korean Startup Interview

Meet startups that are striving for global expansion through exclusive interviews

[Korean Startup Interview] SpeedFloor, ‘Transforming Logistics Operation with Smart Conveyor Technology’ Startup SpeedFloor automates loading/unloading with AI-driven optimization, cutting costs and inefficiencies for SMEs. Their dual business model and innovative solutions drive global expansion and industry innovation.

[Korean Startup Interview] Crest: Revolutionizing Battery Systems with Intelligent BMS Technology Crest is a Korean secondary battery system manufacturing company that has successfully developed an intelligent battery management system. With these achievements, Crest is now seeking investment.

[Korean Startup Interview] Fighting Counterfeits: QUAZAR’s Data-Driven Authentication Tech As counterfeit concerns grow, demand for luxury authentication rises. QUAZAR uses vision AI and extensive data to verify authenticity, enhancing credibility, driving revenue growth, and attracting investor interest.

Others

Rebellions Expands Middle East AI Strategy as Aramco’s Partner at LEAP 2025 Rebellions is representing Aramco partners at LEAP 2025, strengthening its AI presence in Saudi Arabia through strategic partnerships, investment, and localization, while expanding its role in the Middle Eastern market.

Naver Cloud and Rebellion Sign MOU to Build Sovereign AI in Saudi Arabia Naver Cloud and Rebellion signed an MOU at LEAP 2025 to develop sovereign AI in Saudi Arabia. The partnership leverages Naver’s LLM expertise and Rebellion’s semiconductor technology, aiming to strengthen Korea-Saudi AI collaboration.

Yanolja Cloud Drives Digital Innovation in the Middle Eastern Travel Market Yanolja Cloud is expanding its presence in the Middle East, strengthening partnerships in Saudi Arabia and driving digital innovation in travel through AI-powered B2B solutions and strategic collaborations.