[Korean Startup Weekly News #114] Upstage Becomes Korea’s First Generative AI Unicorn After Closing $126M Series C

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Period : 13 Apr., 2026 ~ 19 Apr., 2026

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

Headline

Upstage Becomes Korea’s First Generative AI Unicorn After Closing $125.9M Series C First Close
Upstage closes $125.9M (₩180B) Series C first tranche, hitting $1B+ valuation to become Korea’s first generative AI unicorn. Led by Saje Partners, with Hyundai, Axiom Asia among new investors. Total raised now ~$279.7M.

Korean Government

Korea’s Global Startup Hubs Open Applications for Next Cohort
Korea’s K-Startup Centers are open for applications. 119 startups raised ~$240M overseas last year. New camputilizes launching in Silicon Valley and beyond. 🌏 #KoreanStartup

Check out the latest funding news for Korean startups

Lunit Secures $21M Anchor Commitment from Atinum Investment in $140M Rights Offering
South Korea’s Lunit lands a $21M (KRW 30B) anchor commitment from Atinum Investment in its KRW 200B rights offering. Funds go toward CB repayment, global R&D, and overseas expansion. A bonus share issuance to follow.

ROKIT Healthcare Signs $20.7M MOU with UAE Royal Investment Group
ROKIT Healthcare signs $20.7M MOU with UAE royal-backed Master Investment Group to launch AI organ regeneration JV in the Middle East, tarreceiveing 15M+ GCC patients.

Avo Raises $10M Series A to Bring Trusted Clinical Knowledge Into the EHR
Avo raises $10M Series A led by Noro-Moseley Partners to scale its EHR-native clinical AI platform. Korean co-founder Dr. Joongheum Park serves as CPO. Backed by Dunamu & Partners and Futureplay.

ELICE Group Secures Strategic Investment to Advance AI Data Center by Building on Cloud Tech. and GPU Clustering Capability
ELICE Group lands strategic investment from Dongguk Holdings & GS Ventures to scale its AI data center business, backed by liquid-cooled GPU infrastructure and 5 years of cloud ops experience.

INTERGRAVITY Raises $5.5M USD (KRW 8 Billion) in Pre-Series A Round
INTERGRAVITY, a Korean deep tech space startup, closes $5.5M pre-Series A backed by Stonebridge Ventures, STIC Ventures & KAA’s New Space Fund. Eyes first commercial OTV deployment via SpaceX in Q1 2027.

ProtierBiotech Closes $2.45M Pre-Series A Round to Advance Molecular Glue-Based Cancer Drug Pipeline
South Korean biotech ProtierBiotech has raised $2.45M (KRW 3.5B) in a Pre-Series A round to advance its molecular glue-based cancer drug pipeline, tarreceiveing multiple myeloma with plans to expand into ovarian cancer.

Korean edutech Startup Postmath Raises $1.25M, Secures High-Performance AI Infrastructure
South Korean edutech startup Postmath raises $1.25M (KRW 1.86B) led by East Gate Partners, while securing 32 high-performance GPUs via government support. The company eyes Scale-Up TIPS selection in Q3 2025.

Fairsquarelab Closes Series B Round to Cement Role as Institutional Digital Asset Infrastructure Player
Fairsquarelab closes Series B led by CKX Partners, with Mirae Asset Capital, Korea Investment Partners & others joining. The digital asset infra firm is driving Korea’s STO and stablecoin ecosystems while expanding globally via Project Pax.

‘Mateo AI Studio’ Raises Pre-Series A Funding to Scale AI-Native Content Studio
MateoAI Studio, a Korean AI-native content studio, has raised ~$1.41M (₩2B) in Pre-Series A funding from SmartStudy Ventures (Baby Shark’s CVC) to scale original IP production across film, drama & animation.

K-Beauty Brand Cleversteps Secures Seed Funding to Crack Latin America’s Untapped Market
Korean derma K-beauty brand Cleversteps has raised seed funding from The Ventures to launch in Latin America’s $67B beauty market. Founded by influencer Jason Coreano with 250M+ creator network reach, the brand tarreceives $280M in revenue by 2029.

Sparklabs Backs AI-Powered English Learning Startup AvoLabs
Sparklabs invests in AvoLabs, the AI-powered English ed-tech startup behind Aboringo. The platform automates grading, feedback & progress tracking for teachers across Korea, Turkey, Germany & Malaysia

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