Intervest, JS Corporation, and Others Participate
Total Accumulated Investment Reaches 10 Billion KRW
Fashion tech company Cover Summon announced on the 13th that it has secured 5 billion KRW in Series A funding from Intervest, JS Corporation, Big Move Ventures, Mark 420, and others. With this, Cover Summon's total accumulated investment has reached 10 billion KRW.
Cover Summon is a lifestyle fashion tech company researching and developing sustainable fiber material technologies, with core technologies including ▲‘Air Tech’ that uses air as a filling material ▲‘Heating Tech’ that enables heating without wires ▲‘UV Color Change’ that changes color in response to ultraviolet light. Since its establishment in 2017, it holds 25 domestic and international patents registered and applied for, as well as 215 design and trademark registrations and intellectual property rights (IP).
With this Series A investment, Cover Summon plans to enhance its technological competitiveness by establishing an R&D center and smart factory within the year, and laying the foundation for an IP licensing business of smart fabric technology, while accelerating its entry into the global market.
Cover Summon CEO Lee Jae-ho said, “Our strategy is to increase market competitiveness through differentiated proprietary technology,” adding, “This investment will provide a stepping stone to advance our technological capabilities, and we will actively expand collaboration lines with various industrial companies to establish ourselves as a leading tech company that permeates lifestyle.”
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