Lifestyle tech company Coversummon (CEO Jaeho Lee) announced on the 8th that it has secured follow-on investment from existing investor InterVest. The investment amount was not disclosed.
This strategic investment was made based on an evaluation of CoverSurman's technological competitiveness and mid- to long-term growth strategy. Following the initial investment, InterVest comprehensively reviewed CoverSurman's technological performance, business execution capabilities, and global expansion potential, leading to its decision to make a follow-up investment.
Coversummon is a fashion tech company with smart textile technology inspired by natural elements like air, heat, and light. Through proprietary fabric technologies like Air Tech, Heated Tech, and UV Color Change, Coversummon has achieved functionality and sustainability. To date, it has secured 32 domestic and international patents and 203 design and trademark rights.
Business performance is also expanding. We've expanded our partnerships and distribution network, focusing on key Asian markets like Japan, Taiwan, and China. Following the registration of our US patent, we now supply materials to global SPA brands like GAP and other overseas brands. Furthermore, our B2C business, based on offline bases in Seongsu and Hannam, has achieved cumulative sales of 100,000 units for our flagship product, "Pillowdy."
Coversummon plans to use this investment as an opportunity to focus on establishing a foundation for mid- to long-term growth, including expanding its R&D organization, enhancing its systems to respond to global scale-up, and reorganizing its organizational operations.
An InterVest official stated, “Coversummon has consistently demonstrated its differentiated fiber material technology, product competitiveness, and business execution capabilities,” adding, “We decided to make a follow-up investment after highly evaluating its technological advancement strategy and growth potential in the global market.”
Lee Jae-ho, CEO of Coversum, said, “This follow-up investment is more meaningful in strengthening the foundation for stable expansion of our global business than in short-term performance. We will establish a quality and operational system that meets global standards and establish ourselves as a trusted materials technology partner in the long term.”
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