Wrtn Technologies completes its Series B funding round with an additional 83 billion KRW investment led by Goodwater Capital, positioning itself as a frontrunner in South Korea's growing AI service market.

Information on the Target

Wrtn Technologies, an innovative AI service platform, has successfully completed its Series B funding round, securing an impressive 83 billion KRW, bringing the total investment in this round to 108 billion KRW. This milestone raises Wrtn's cumulative investment to approximately 130 billion KRW, making it the first domestic B2C AI startup in South Korea to surpass this mark, excluding companies focused on large language models and semiconductors. The investment comes just nine months after Wrtn raised 25 billion KRW in its pre-Series B round last June.

Founded by CEO Se-young Lee, Wrtn has witnessed rapid growth in both user engagement and revenue. Recently, the platform achieved a significant user milestone, surpassing 5 million monthly active users just 22 months after launch, outperforming competitors like Toss and Karrot Market. The company also reported noteworthy monthly revenues, reaching 1 billion KRW in November and 2 billion KRW in December, primarily driven by its character chat service.

Industry Overview in South Korea

The AI service industry in South Korea has been experiencing rapid expansion, propelled by a heightened interest in artificial intelligence across various sectors. The government has recognized the significance of AI and is investing heavily in