The Invention Lab (CEO Jinyoung Kim) announced on the 17th that it has made follow-up investments in its portfolio companies: Vietnamese second-hand mobility platform OKXE (CEO Wooseok Kim), hourly hotel reservation service Go2Joy (CEO Seongmin Byun), and semi-permanent makeup content and franchise solution company Blossom Cloud (CEO Kiryun Park).
This investment was made in recognition of each company's differentiated market competitiveness and growth potential in the Southeast Asian and Japanese markets.
OKCSE is the first online marketplace for used motorbikes in Vietnam, leading the digitalization of a market with an annual transaction volume of 3.5 trillion won. Based on 8.2 million app downloads, 2,134 dealerships, and 2 directly-operated stores, it provides an online and offline purchasing experience (OMO), and is seeking to expand its business to the automobile transaction sector in the future.
GoToJoy is Vietnam's largest hourly hotel reservation platform, and is establishing a unique position in the OTA (Online Travel Agency) market with differentiated functions such as hourly reservations, time deals, and VR room views, targeting the MZ generation. It currently has 2.2 million cumulative downloads, 200,000 monthly active users (MAU), and is expected to reach its monthly break-even point (BEP) in December 2024.
Blossom Cloud is a total solution company that provides integrated products and educational content for the semi-permanent tattoo industry, and is targeting domestic and international markets through the online lecture platform 'Banbanstep' and the product commerce 'Banbanstore'. It has begun to enter the Japanese market in earnest through cooperation with the Japanese SPC Global Association, and has recorded annual sales of 2.5 billion won as of 2024.
The Invention Lab CEO Jinyoung Kim said, “OKC and Gotoojoy have established solid leadership in the local Vietnamese market, and Blossom Cloud has great growth potential in both domestic and international markets based on K-beauty content.” He added, “This follow-up investment will further accelerate the expansion of these companies into the Southeast Asian and Japanese markets.”
- See more related articles
You must be logged in to post a comment.