Fashion tech startup ‘Christine Company’ announced that it has attracted additional investment worth 3 billion won from Korea Technology Finance Corporation, Korea Small and Medium Venture Business Corporation, Hansae Yes24 Partners, and CNT Tech.
As a result, Christine Company plans to successfully secure additional funds and begin full-scale business growth after attracting pre-series A investment from Aju IB Investment, Naver D2SF, and Series Ventures last February.
Christine Company is a startup that has built a data-based shoe manufacturing platform, ‘Shinple’. By converting approximately 120 shoe manufacturing processes into a single digital platform, the company succeeded in reducing the production period by up to 90% and manufacturing costs by up to 50%.
In particular, Christine Company opened its beta platform last August and is discussing collaboration with several shoe brands. Because it can reflect the latest trends, it is receiving great response from unique new brands targeting the MZ generation. Large brands are also expressing high satisfaction, saying they can launch new products in line with trends and reduce inventory risk through flexible market response.
Kim So-hyun, Deputy Director of the Korea Technology Finance Corporation Venture Investment Team, who led this investment, said, “Christine Company has established a foundation for shoe SCM innovation by converting the existing shoe industry to digital,” adding, “It is a business model that can grow together with many shoe factories. “It is even more meaningful, and we hope that it will grow into a representative fashion tech company that can grow the domestic shoe industry pie in the future,” he said, expressing the purpose of the investment.
Lee Min-bong, CEO of Christine Company, said, “Despite the recent difficult situation in the startup investment ecosystem, we are happy that Christine Company’s value and vision have been recognized.” He added, “We will grow into a leading domestic company that innovates the shoe industry by upgrading our platform, while also expanding into the global market.” “I will advance,” he said, expressing his ambition.
Meanwhile, Christine Company is successfully proving its marketability with its own brand ‘Christine’, showing more than three times the growth compared to the previous year. We are currently actively recruiting talent with a passion for the shoe industry across all job categories.
Source: Pangyo Techno Valley Official Newsroom
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