Teaming Lab raises seed funding for its luxury pre-owned watch platform, Watime, with plans to enhance transparency and security in transactions in South Korea's burgeoning luxury watch market.

Target Information

Teaming Lab, the operator of the luxury pre-owned watch commerce platform 'Watime,' has successfully secured seed investments from Kakao Ventures, Mash Up Ventures, and the Seoul National University Startup Network Angel Club. Watime offers a comprehensive service that facilitates every aspect of pre-owned luxury watch transactions, from purchasing and authentication to repairs, creating a secure and transparent trading environment.

The platform sells carefully selected pre-owned luxury watches, providing a robust compensation system for authenticity issues. Watime also ensures transparency by offering detailed information on essential watch attributes, such as the status of the dial restoration and the number of links. Additionally, customers benefit from affordable repair services provided by partnered watch experts after their purchase.

Industry Overview in South Korea

The luxury watch industry in South Korea has experienced significant growth, driven by increasing disposable incomes and a rising interest in luxury brands among consumers. T