Lifestyle fashion tech company CoverSurman (CEO Jaeho Lee) announced on the 13th that it has attracted 5 billion won in Series A investment from InterVest, JS Corporation, BigMove Ventures, and Mark 420. With this, CoverSurman's cumulative investment amount has reached 10 billion won.
Coversummon is a lifestyle fashion tech company that researches and develops sustainable fiber material technology. Its core technologies include ▲'Air Tech' that uses air as a filling material, ▲'Heat Tech' that generates heat without wires, and ▲'UV Color Change' that changes color in response to ultraviolet rays. Since its establishment in 2017, it has registered and applied for 25 domestic and international patents and holds 215 registered IPs of design rights and trademarks.
Recently, through collaborations with Itochu Corporation, JS Corporation, Yakjin Trading, UBASE, etc., the company has expanded its overseas business beyond the domestic market to the US, Japan, China, and Europe. Major clients include Balenciaga, 3. PARADIS, Post Archive Faction (PAF), Descente, LTEKS, K2, and Nepa.
In addition, Coversummon is also operating a fashion brand called 'KEEK', which focuses on 'Pillowdy', a combination of a pillow and a hood, and is expanding its offline distribution network through airport duty-free shops and department store pop-up stores.
With this Series A investment, Coversummon plans to lay the foundation for building an R&D center and smart factory within the year, as well as licensing intellectual property (IP) for smart fabric technology, thereby increasing its technological competitiveness and accelerating its advance into the global market.
“We decided to invest because we highly value its technological prowess that combines sustainability and functionality,” said Kim Yu-sik, executive director of InterVest, who led CoverSurman’s investment. “We expect that if we fully pursue technological innovation and product diversification, we will be able to solidify our position in the global fashion tech market in the future.”
CoverSermon CEO Lee Jae-ho said, “Our strategy is to increase our market competitiveness with our own differentiated technologies,” and added, “With this investment, we will lay the foundation for advancing our technological capabilities. We plan to actively expand our collaboration lines with various industrial companies in the future to establish ourselves as a leading tech company that penetrates lifestyles.”
Meanwhile, Coversummon has been recognized for its technological prowess by being consecutively selected for the TIPS and Post-TIPS, public-private startup incubation programs of the Ministry of SMEs and Startups.
- See more related articles
You must be logged in to post a comment.