Top Startups / March 11, 2022
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

Top Korean Startups to Watch in 2022

South Korea is well known as a country that heavily leans on its reputation for innovation and technology, leading to the creation of a number of top startups in South Korea. Government support is very common among Korean startups and this helps many new companies to reach the next level in their development. With global brands like Samsung also heavily being involved in the country's startup ecosystem, South Korea is continuing on its path to being recognised as one of the best startup hubs in the world.


1. Redbrick

Year Founded: 2018

HQ: Yeoksamdong, South Korea

Size: 11-50

Founders: Yongmo Liang

Redbrick is a Koren startup that was founded in 2018 and is currently based in Yeoksamdong, South Korea. The company has developed and released a platform that allows for the creation of software and also supplements this with educational support to help to fill the gap in available high-quality education for AI and other high-tech concepts.

The business has gone through four rounds of funding since being founded, with a total number of four investors putting their money behind Redbrick. The end result of these funding rounds was that the company managed to raise a figure of $4.7 Million.

2. Seoul Robotics

Year Founded: 2017

HQ: Seoul, South Korea

Size: 11-50

Founders: Han Bin Lee

Seoul Robotics is a startup in Korea that was founded in 2017 and is currently based in the city of Seoul. The company creates advanced LIDAR detection technology to assist self-driving vehicles and robots to detect obstructions and allow for them to act. This is paramount to safety and therefore the overall scaling of the technology as a whole.

Since the company was founded, it has gone through four rounds of startup funding. These funding rounds have been supported by a total of seven investors. The result of these investors actions was that the company has raised a figure of $18.1 Million for research and development.

3. Bitsensing

Year Founded: 2018

HQ: Seoul, South Korea

Size: 11-50

Founders: Jae-eun Lee

Bitsensing is a Korean startup that was founded in 2018 and is currently based in Seoul, South Korea. The company makes its money through the research, development and production of advanced radar technology to assist with the development and creation of smart cities so that quality of life can be improved for citizens.

Investor support for the company has been high, with four rounds of funding being completed in as many years. These funding rounds have seen the business attract the support of nine investors that have collectively invested a figure of $7.3 Million into the startup.

4. Codeit

Year Founded: 2017

HQ: Seoul, South Korea

Size: 11-50

Founders: Young Kang

Codeit is a startup in South Korea that was founded in 2017 and is currently based in the city of Seoul. The company is behind the creation of an e-learning platform, specifically tailored to addressing the skills gap in software education, which is still catching up to the level of demand seen in the sector. The business has more than 100,000 students participating in its interactive lessons.

The business has gone through two funding rounds in 2020 and 2021, with a pair of investors backing the company through these rounds. The culmination of this effort has been that Codeit has managed to raise 14 Billion Won in funding.

5. Remake Digital

Year Founded: 2018

HQ: Seoul, South Korea

Size: 11-50

Founders: Samuel Nam

Remake Digital is a Korean startup that was founded in 2018 and is currently based in Seoul, South Korea. The company has developed an AI platform for advertising that helps these advertisers to automate the design of their banner ads so that they can reduce their costs and design times and maximize the efficiency of the adverts through their platform.

The business has gone through a single funding round in 2019, which culminated in two investors showing their interest. This interest turned into a total investment worth 500 Million Won to grow and develop the business.

6. Athena's Lab

Year Founded: 2017

HQ: Seoul, South Korea

Size: 11-50

Founders: Hyowon Lin

Athena's Lab is a startup in Korea that was founded in 2017 and is currently based in Seoul, South Korea. The company provides a platform that allows students to get helpful information and assistance relating to their schooling, all the way throughout their K12 journey. This helps to improve levels of education and performance in this aspect.

The company has gone through a sole round of startup funding, which took place in August 2021. The result of this funding round was that the company attracted the attention of six investors, which collectively invested 3.5 Billion Won into the company.

7. Petnow

Year Founded: 2018

HQ: Seoul, South Korea

Size: 11-50

Founders: Jesse Lim

Petnow is a Korean startup that was founded in 2018 and is currently based in Seoul, South Korea. The company has created an AI-powered app to help with the digital registration of a dog's noseprint. This can help owners to find their dogs if they are lost or stolen and also avoids the issue of microchips being damaged or lost.

Since being founded, the company has gone through a single round of funding in November 2021, which resulted in the business raising an unspecified amount of money from an unknown number of investors.

8. Naver Z

Year Founded: 2018

HQ: Seongnam, South Korea

Size: 51-100

Founders: Dae-wook Kim

Naver Z is a Korean startup that was founded in 2018 and is currently based in Seongnam, South Korea. The company has created a platform that allows users to create their own avatars using a variety of different settings online. This is achieved by using facial recognition and virtual reality technology.

Since being founded, the company has gone through two rounds of funding in 2020 and 2021. These funding rounds successfully attracted the support of six investors, these investors have put a total of 228.5 Billion Won into the company collectively.

9. TagHive

Year Founded: 2017

HQ: Seongnam, South Korea

Size: 11-50

Founders: Pankaj Agarwal

TagHive is a startup in Korea that was founded in 2017 and is currently based in Seongnam, South Korea. The company provides an education technology platform using AI, which creates an advanced quiz platform. This platform allows for the review of a student's progress and increases engagement in their learning.

The company went through its first round of startup funding in December 2021, which was a success. From this round, the company raised a total of $2.5 Million from a single investor.

10. Exosystems 

Year Founded: 2017

HQ: Pangyo, South Korea

Size: 11-50

Founders: Hooman Lee, Kaylin Kim

Exosystems is a Korean startup that was founded in 2017 and is currently based in Pangyo, South Korea. The company has created an IoT platform that allows patients to receive rehabilitation guidance based on data collected through the platform about their affliction and their rehabilitation as a whole. This improves the care outcomes for patients.

Since the business was founded, it has gone through three rounds of startup funding. These rounds have culminated in the company successfully attracting the attention of five investors. These investors have staked a figure of $4.2 Million into Exosystems.

11. ABL Bio

Year Founded: 2016

HQ: Seongnam, South Korea

Size: 11-50

Founders: Sang Hoon Lee

ABL Bio is a startup that was founded in 2016 and is currently based in Seongnam, South Korea. The company operates in the medical and biotechnology sector and leads research on the development of therapeutic drugs for immuno-oncology and neurodegenerative diseases. This helps to improve the lives of patients.

Since being founded, the company has gone through three rounds of funding and has raised a figure of $90.8 Million in total investment. This cumulative investment was achieved by a group of nine investors.

12. N.THING

Year Founded: 2014

HQ: Seoul, South Korea

Size: 51-100

Founders: J Jeong, Kenny Chung, Leo Kim, Seth Nam, SS Han, Tony Baik

N.THING is a startup in Korea that was founded in 2014 and is currently based in Seoul. The company is an AgriTech startup that uses the IoT and advanced technology to create modular farming cubes which are more efficient and help to create more value in the overall value chain of the agriculture market.

The business has gone through an impressive seven funding rounds since it was founded. These funding rounds have attracted a large amount of attention, with fifteen investors taking part. This has resulted in the company raising a figure of $26.1 Million.

13. WAUG

Year Founded: 2015

HQ: Seoul, South Korea

Size: 51-100

Founders: Hyemi Jung, Yoon Sunwoo

Waug is a Korean startup that was founded in 2015 and is currently based in Seoul, South Korea. The company operates in the travel and tourism market, providing a platform that allows for the booking and reservation of a variety of different tours and activities.

Since being founded, Waug has gone through three separate rounds of funding with the rounds taking place in 2016, 2018 and 2021. These rounds were supported by a total of six investors and these investors helped the business to raise $22.6 Million.

14. Casual Steps

Year Founded: 2013

HQ: Seoul, South Korea

Size: 11-50

Founders: Jinha Kim

Casual Steps is a startup in Korea that was founded in 2013 and is currently based in Seoul, South Korea. The company has created a platform that allows Koreans to easily buy products from the USA, with the current emphasis being fashion products.

The business went through two rounds of funding, with one in 2013 and another in 2014. These funding rounds had four investors participate, which allowed Casual Steps to raise a figure of 1.5 Billion Won in startup funding.

15. Jampick

Year Founded: 2013

HQ: Seoul, South Korea

Size: 11-50

Founders: Jeongseok Oh

Jampick is a Korean startup that was founded in 2013 and is currently based in Seoul, South Korea. The company provides development for a range of different items, such as blockchain platforms, mobile games and much more. The platform is a blockchain-based P2P streaming platform.

Since being founded, the company has gone through a single round of startup funding, which took place in December 2013. This funding round was supported by a single investor and this netted the team at Jampick 300 Million Won.

16. Medi Plus Solution

Year Founded: 2013

HQ: Seoul, South Korea

Size: 11-50

Founders: Heejoon Park

Medi Plus Solution is a startup in Korea that was founded in 2013 and is currently based in Seoul, South Korea. The company provides a digital healthcare platform to help those suffering from various types of cancers to make faster recoveries and live better lives for themselves. This is achieved through a variety of helpful information and support on the platform.

Since being founded, the company has gone through three rounds of funding, with two in 2019 and one in 2021. This funding round was supported by five investors, these investors have collectively invested 18 Billion Won to further develop the business.

17. S2W

Year Founded: 2018

HQ: Seongnam, South Korea

Size: 11-50

Founders: Sangduk Suh

S2W is a startup in Korea that was founded in 2018 and is currently based in Seongnam, South Korea. The company works in the cybersecurity industry and provides data analysis to create a better and more robust cyber security intelligence baseplate for a variety of businesses.

The business has gone through two rounds of funding since it was founded, with these rounds being supported by seven investors. The end result of these funding rounds was that the company has managed to successfully raise $13.5 Million.

18. Standard Energy

Year Founded: 2013

HQ: Daejeon, South Korea

Size: 11-50

Founders: Mike Elam

Standard Energy is a startup in Korea that was founded in 2013 and is currently based in Daejeon, South Korea. The company is developing vanadium ion batteries for commercial purposes that will aim to increase the efficiency of batteries and also make sure that they are safer to use.

Since being founded, the company has gone through two rounds of startup funding in 2019 and 2021. These funding rounds attracted the support of five investors that have collectively pledged $14.8 Million to the business.

19. 5minlab

Year Founded: 2013

HQ: Seoul, South Korea

Size: 51-100

Founders: Kyunghee Aiden Kim, Moonhyoung Park

5minlab is a Korean startup that was founded in 2013 and is currently based in Seoul, South Korea. The company is a game development studio that focuses on games for PC and mobile devices. As it stands, they have brought more than 30 games to market and are developing a positive reputation.

The company has been through two funding rounds, with one in 2019 and another in 2020. These funding rounds have attracted the support of four investors that have aided the company to the tune of $5.8 Million in startup funding.

20. Deepbrain AI

Year Founded: 2016

HQ: Seoul, South Korea

Size: 51-100

Founders: Seyoung Jang

Deepbrain AI is a startup in Korea that was founded in 2016 and is currently based in Seoul, South Korea. The company has developed conversational AI technology that has a variety of different use cases, such as in broadcasting, education and service sectors. They aim to close the conversational gap between machines and people.

The company has gone through three funding rounds since being founded, with one in 2017, 2019 and 2021. These funding rounds were supported by a total of six investors that have invested an impressive $52 Million into the business.

21. TAGby

Year Founded: 2016

HQ: Yeoksamdong, South Korea

Size: 11-50

Founders: Jun Ro

Tagby is a Korean startup that was founded in 2016 and is currently based in Yeoksamsong, South Korea. The company has developed an application to be a one-stop-shop to access influencer marketing in South Korea.

Since being founded, the company has gone through a single round of startup funding in December 2020. The amount that was raised has not been disclosed, however, the company received funding from a sole company.


FAQs

How Many Startups Are There in South Korea?

The exact number of startups in South Korea is currently unknown, however, it has been discovered that in the capital city, Seoul, there are more than 8700 startups.

What Is The Average Investment in South Korea?

The average investment in a startup depends on the location, however in Seoul, the capital city of South Korea, the average Seed Round is worth $485,000 and the average Series A Round is worth $3.3 Million, slightly above the global averages.

What Are The Strongest Sectors in South Korea?

Some of the biggest startup sectors in the country are big data and analytics, life sciences and gaming.

Top Korean Startups to Watch...
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

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