Gadget Korea , which operates eSIM-based data roaming platforms "Yusimsa (domestic)" and "Superalink (global)," announced on the 2nd that it has completed securing Series A funding of approximately KRW 6 billion. With this investment, Gadget Korea's corporate value has surpassed KRW 30 billion.
This Series A round was strategically invested by various financial investors, including Murex Partners, IBK Industrial Bank of Korea, NICE Investment Partners-SK Securities, KB Securities-Kiros Ventures, and NBH Capital, as well as overseas partners. Gadget Korea began attracting seed investment in 2022 and secured Pre-Series A investments from Blue Point Partners, Hite Jinro, Home & Shopping, and Murex Partners in 2023. Including this Series A round, Gadget Korea has attracted a total of KRW 8.5 billion in cumulative investment.
The key factors driving the participation of several domestic institutional investors in this Series A investment are the rapid pace of business growth and global reach.
Gadget Korea is projected to see approximately 200% growth in sales this year compared to last year, and is accelerating its entry into the global market by launching the Superalink service, a global-based eSIM platform following the existing domestic-based eSIM platform, USIMSA. Recognizing this value, Gadget Korea was officially registered as a full member of the GSMA (Global System for Mobile Communications Association) in August of this year. While existing domestic companies registered as full members of the GSMA are primarily major telecommunications companies such as SK Telecom, KT, and LG Uplus, Gadget Korea is the first startup to be registered as a full member. This full membership provides Gadget Korea with the opportunity to play a more significant role in the global mobile communications industry.
The funds raised will primarily be used to expand the company's core eSIM business's domestic market dominance, expand its global presence, and expand into new businesses such as MVNO and IoT.
Gadget Korea CEO Sang-hyeok Yoo said, “We are deeply grateful for the continued trust of our investors, and we are delighted that major domestic institutional investors have participated in this Series A.” He added, “We will work closely with investors and further accelerate our global market conquest in 2025, focusing on our global platform ‘Superalink.’”
Gadget Korea CFO Choi Jeong-tak said, “In order to maximize Gadget Korea’s strengths, which are optimized for the recent IPO market trend that emphasizes corporate performance, we will pursue both external growth of the business and qualitative growth of the company in parallel, and we will begin selecting an underwriter for the listing in 2025 and aim to list on the KOSDAQ market around 2027.”
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