Teampass Co., Ltd. (CEO Lee Seul-ae), which operates the cosmetics manufacturing specialized B2B platform 'Branit', announced on the 26th that it was finally selected for the 'Little Penguin' program of the Korea Credit Guarantee Fund to foster promising startups.
'Little Penguin' is a startup discovery program in which the Korea Credit Guarantee Fund selects startups with high growth potential every year and provides them with financial support, guarantees, mentoring, and investment connections. The selected companies are evaluated as next-generation unicorn candidates with a high possibility of growing into 'First Penguins' in the future. With this selection, Teampass has secured a full-scale business expansion opportunity along with guarantee support of up to 1 billion won.
Brainet is the first domestic cosmetics manufacturing B2B platform based on supply chain management (SCM) data. It has digitized the entire process from manufacturer search to product planning and production communication in the domestic cosmetics manufacturing market, which used to be based on analog methods. It is applying a self-developed search algorithm that connects the optimal manufacturing partner by analyzing key data such as manufacturer performance, formulation, minimum order quantity (MOQ), and production certification.
Brands using the platform can quickly find manufacturers that meet their desired conditions, and can increase production efficiency and transparency by conducting all processes online, from small-scale production to export linkage. Currently, Branet is expanding its business to meet diverse market demands, such as indie beauty brands, influencers, and large-scale collaboration projects.
Meanwhile, Teampass was selected for the Ministry of SMEs and Startups' global technology startup program 'TIPS' last year and secured about 500 million won in research and development funds. With this 'Little Penguin' selection, the company plans to fully pursue business expansion, including the advancement of platform technology, refinement of AI-based manufacturer matching algorithms, attraction of overseas indie beauty brands, and global expansion.
Teampass CEO Lee Seul-ae said, “This selection is a recognition of both Brainet’s manufacturing innovation technology and the need for digital transformation in the domestic cosmetics industry,” adding, “We will continue to work to build a smart manufacturing ecosystem by quickly and precisely connecting brands and manufacturers.”
- See more related articles
You must be logged in to post a comment.