"3-Year Average Growth Rate of a Whopping 80%"... Which Startup Has Been Consistently Loved?

Forest of Innovation Announces 7 Startups with High Growth Rates Over 3 Years
Acceleration of Non-Face-to-Face and Digital Transformation... Various Platforms in Spotlight
Targeting Pain Points Achieves Good Results... Increased Consumer Response

#. The startup 'DailyShot' offers a service where customers can order desired alcoholic beverages such as whiskey and wine online and pick them up at nearby stores. Its quarterly average growth rate has exceeded 80% over the past three years.

#. HandHug, which operates the creator brand platform 'JellyCrew,' has achieved a quarterly average growth rate of 89% during the same period. HandHug completed a Series A funding round worth 2.5 billion KRW last August.

There are startups that have consistently received steady consumer support amid the ongoing COVID-19 pandemic for three years. They have targeted pain points in daily life and achieved good results. The startup growth analysis platform 'Innovation Forest' announced seven startups whose service transaction volumes have continuously grown over the past three years (January 2019 to December 2021). Innovation Forest is a database platform that provides a comprehensive view of the latest indicators and information on over 3,000 domestic startups and venture companies.

Analyzing the consumer types of DailyShot revealed that single-person households accounted for 69.6%. Additionally, males in their 20s and 30s each made up over 30% of the consumer base, indicating strong popularity among male solo drinkers. HandHug operates 'JellyCrew,' a platform that sells graphic creators' design products both online and offline. Currently, more than 100 creators are registered, and the company is rapidly growing, operating eight directly managed stores in major nationwide distribution channels such as department stores.

Founded in 2017, Paytalab operates the coffee smart order platform 'PassOrder.' PassOrder is a service that allows customers to order and pay for coffee via smartphone in one seamless process. Based in Busan, it plays a significant role in addressing the challenges faced by self-employed business owners with limited capital. It recorded a quarterly average growth rate of 46% over three years.

Stayfolio, which has a quarterly growth rate of 33%, secured 5 billion KRW in Series A funding last June. It offers carefully selected spaces to provide consumers with new lodging experiences and delivers comprehensive accommodation-related services from the beginning to the end of their travels.

Visual, founded in 2017, operates the jewelry sales platform 'Amonz.' It successfully completed a Series B funding round worth 9 billion KRW last year. The total accumulated investment has reached 14 billion KRW. Since 2019, its quarterly average growth rate has been 68%.

Edutech startup Onui (growth rate 58%) is gaining attention as an online tutoring platform. Onui operates the non-face-to-face tutoring service 'Seoltap,' which allows teachers and students to conduct real-time tutoring using iPads. Onui's revenue soared from 830 million KRW in 2019 to 7.63 billion KRW in 2020.

GripCompany, the operator of the live commerce platform 'Grip,' recorded a quarterly growth rate of 84%. Leading trends with a shopping method where users and sellers communicate live, it is highly favored by the MZ generation (Millennials + Generation Z). Kakao made a large-scale investment of 180 billion KRW in GripCompany last December, becoming its largest shareholder.

Innovation Forest explained, "Looking at the investment histories of the seven startups, a commonality was that they attracted follow-up investments recently alongside growth in transaction trends."