Birdview, a Korean beauty tech startup that operates the mobile beauty platform ‘Hwa-Hae’, has attracted a pre-IPO investment of 20 billion won (approximately $ 17.4 million) through PS Alliance, a domestic private equity fund (PEF) operator. The investment was carried out by issuing new shares with the entire 20 billion won in common stock. Birdview’s stable management and growth potential since the Series B investment in 2018 were highly regarded, according to an official from Birdview.
Hwa-Hae, a beauty platform operated by Birdview, has consistently ranked first in the beauty category of the Android mobile app market for eight consecutive years since its launch in July 2013. With this pre-IPO investment, Birdview plans to upgrade its Hwa-Hae platform services. To provide a “hyper-personalized” service that recommends cosmetics tailored to each consumer’s demand, it will strengthen artificial intelligence (AI) technology and expand into the beauty device market. Lee Woong, CEO of Birdview, said, “With this investment as an opportunity, we will focus on expanding our business area and strengthening our technology to become a ‘beauty super app’.”
Birdview plans to submit a request for preliminary listing review in the second and third quarters of this year, taking advantage of this pre-IPO investment opportunity. Last month, Birdview passed the technical evaluation for the special listing of its business model in the KOSDAQ market and obtained the qualification to request a preliminary review for listing on the Korea Exchange.
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