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The Venture Codex

L&S Venture Capital

504, Teheran-ro, Gangnam-gu 7F, Seoul, Seoul-t'ukpyolsi, 06178, South Korea

Overview

L&S Venture Capital is a venture capital firm. L&S Venture Capital is specializing in incubation, seed, early, and expansion stage investments. L&S Venture Capital invests in electronic components, including smart phones, pads, televisions and grid; telecommunications equipments; green energy sector, such as solar, wind, fuel cell, LED, and EV; machineries; broadcasting; nanotechnology; intelligent robotics; telematics; medical equipments; media contents, which inlcude creation, distribution and new media. L&S Venture Capital primarily invests in South Korea with a focus in Seoul, Gyeonggi region, and Chungnam province. L&S Venture Capital was founded in 2006 and is based in Seoul, South Korea.

Total investments
12
Lead investments
4
Investments · 12mo
5
Active investors
3

Sector focus

  • Venture Capital
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Investment portfolio

  • aweXome Ray

    Participated · Series B · Aug 2026

    aweXome Ray develops membranes made from carbon nanotubes intended for pellicules used in extreme ultraviolet (EUV) lithography. The company owns a patented direct-spinning process for continuous production of CNT membranes and fibers and has opened a clean-room production line in Anyang to produce samples for customer testing. It reports that customer evaluations are underway and expects initial shipments and revenue after those evaluations conclude. The startup has received targeted public and program funding, including a 3.6 billion won Deep Tech Challenge grant and 600 million won from the Unicorn Bridge program, and holds the right to seek up to 20 billion won in technology guarantees. aweXome Ray relocated its headquarters to Jeju Science Park and is preparing for a technology-based listing targeted for 2028.

  • Flexell Space

    Participated · Series A · Jul 2026

    Flexell Space develops next-generation space solar solutions and announced a $20 million Series A on July 14. The company is identified in the press release as being based in Uiwang, South Korea. Public reporting about the round does not include specifics on product roadmaps, customers, revenues, or other operating metrics. The articles also do not disclose how the company plans to deploy the new capital. No information about prior funding rounds or valuation was provided in the cited coverage.

  • Uniqconn

    Participated · Series B · Feb 2026

    Uniqconn specializes in designing and supplying 60 GHz full-duplex wireless communication semiconductor chip connectors branded as “UC60.” The chip delivers ultra-high-speed, low-latency links intended to substitute physical cables in bandwidth-intensive environments. UC60 has completed demonstrations in smartphones, laptops, and robotic-arm joints and is preparing for mass production. The technology is now being piloted for humanoid robots, autonomous vehicles, and space data-center docking, highlighting its versatility across emerging ‘physical AI’ applications. Investors cited both Uniqconn’s technical strengths and its rigorous market validation as key attractions. Financially, the company has secured a cumulative ₩33.6 billion in funding, including the latest round. Proceeds from the new capital will fund product mass production, global market expansion, and additional R&D.

  • Coxwave

    Led · Series A · Jan 2026

    Founded in 2021 in Seoul, Coxwave specializes in AI product analytics and reliability solutions for conversational AI. Its flagship platform, Coxwave Align, delivers user analytics and feedback-driven evaluations, allowing operators to track metrics such as conversation satisfaction and interaction patterns. The company is expanding the platform to include real-time monitoring, anomaly detection, and automated intervention, effectively serving as guardrails for AI agents in production. Beyond software, Coxwave offers AX consulting services that have supported e-commerce, public sector, and professional-services projects for global clients including PwC India, Meta, Microsoft, and Economic Times. Partnerships with Anthropic, OpenAI, and NVIDIA underscore its technical depth; the firm co-hosted Builder Summits and Hackathons with these partners in 2025 and was accepted into the government-backed Scale-Up TIPS R&D program in December. Coxwave claims the first successful exit of a generative AI product in Korea in 2023, further validating its expertise. Following the latest capital infusion, the company’s total funding stands at $8.6 million, which it plans to channel into strengthening AI reliability technology and scaling its consulting arm.

  • Align AI

    Led · Series A · Jan 2026

    Founded in 2021, Coxwave’s core product, Align, is a data-driven platform that tracks real-time user behavior and quantitatively evaluates conversational AI services, helping companies improve satisfaction and reliability. The company complements this with AI transformation (AX) consulting across sectors such as ed-tech, AICC, and finance. Align’s roadmap includes an “AI Guardrail” feature that will monitor agent actions and enable instant mitigation of issues. Coxwave has already collaborated with global tech leaders Anthropic, OpenAI, and NVIDIA, and it was selected for the Korean government’s Scale-up TIPS R&D program in December 2023. Its AX arm has executed projects for PwC India, Meta, Microsoft, and more than ten other clients. Additionally, the firm released EduTap, a B2B AI education solution now used by FastCampus, Hackers, and other ed-tech companies. To date, Coxwave has raised a cumulative ₩12.5 billion to fuel product development and market expansion.

Team

  • Dongsik Chang

    Co-Founder & Co-Chief Executive Officer

  • Jihae Kim

    Managing Director

    LinkedIn
  • Jang Du-hyun