Knowmerce Inc., an ‘entertech’ startup that operates Wonderwall, a comprehensive artist IP platform, has attracted a series C investment of 25 billion won ($19 million). Korea Development Bank, Dunamu, Medici Investment, Daishin Securities, and BSK Investment-Shinyoung Securities participated in this Series C investment.
The scale-up finance office under the Korea Development Bank Venture Finance Headquarters, which executes large-scale investments in domestic startups and unicorn candidates, took the lead for this new investment. Knowmerce received an investment of 4 billion won ($3 million) for Series A in April 2020 and 10 billion won ($7.8 million)for Series B in May of last year. In addition, Dunamu, a company specializing in fintech and blockchain, participated in this new investment following series A and B.
Wonderwall expanding services
The new investment is based on the fact that Wonderwall is positioning itself as a comprehensive platform that expands the value of artist IP by providing various services such as performance services and online/offline combined products and content, and MD production with several artists. Knowmerce, which first introduced Wonder Wall in December 2019, achieved sales of 9.2 billion won ($7.2 million) last year, more than six times growth from the previous year.
Knowmerce started with Art Class, an educational content based on IPs of various artists through Wonderwall commerce service using MD products, Wonderwall Edition, a collaboration project with artists, Wonder Wall Art Lab, and online/offline performance service. The Wonderwall stage is also actively expanding.
Kim Young-joon, CEO of Knowmerce, said, “Wonderwall first made its name as Art Class and has grown into a comprehensive platform based on artist IP ranging from the edition, art lab, and stage in about two years. We plan to introduce various services, and we will develop our business model more organically to create synergy between Wonderwall services.”
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