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The Venture Codex

Wooshin Venture Investment

430, Nonhyeon-ro, Gangnam-gu, Seoul, Seoul-t'ukpyolsi, South Korea

Overview

Wooshin Venture Capital is the venture capital arm of Asia Cement Co. Ltd which invests in various range of sectors.

Total investments
5
Lead investments
0
Investments · 12mo
1
Active investors
0

Sector focus

  • Financial Services
  • Venture Capital
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Investment portfolio

  • Goi

    Participated · Series A · Nov 2025

    Founded in 2021, Goi operates a digital funeral-service platform that allows customers to secure future funeral arrangements with a symbolic contract deposit of just ₩100 per month. The company handles the entire funeral process, positioning itself as a modern alternative to traditional Korean funeral cooperatives. Goi’s subscription-based model has already signed up 50,000 members, demonstrating early product–market fit and rapid user growth. Management plans to expand service coverage and enhance its digital platform to streamline end-of-life logistics. Financially, the firm has secured a cumulative ₩11.9 billion (≈$9 million) in venture funding, giving it runway to scale operations and marketing. The recently raised Series A proceeds will be used to bolster technology, widen partner networks, and accelerate subscriber acquisition. While revenue figures were not disclosed, the large and growing subscriber base underpins recurring income potential and data-driven upsell opportunities.

  • Paywatch

    Participated · Series A · Jun 2024

    Founded in 2020, Paywatch provides an earned wage access (EWA) service that lets employees withdraw a portion of their accrued salary instantly, reducing dependence on short-term credit between paydays. The company has processed more than US$200 million in EWA transactions and supports large enterprise clients such as Genting Group, DFI Retail (Guardian), Shangri-La Hotels, CP Group (Lotus’s), Lotte Group, Wilmar and Hyundai. Operating across six markets—Malaysia, the Philippines, Indonesia, Singapore, Hong Kong and South Korea—Paywatch embeds its solution directly into employer payroll and HR systems. Management plans to transform the business into a “NeoFi” platform by adding micro-insurance, cross-border payments and employee rewards, all delivered through AI-driven tooling. Partnerships with the UNCDF and the ILO are cited to underscore responsible product design. The firm argues that its offering lowers employee churn and boosts productivity for employers while improving workers’ financial outcomes. Credit lines from global banks complement venture funding, enabling a capital-light growth model that supports rapid regional expansion.

  • MedInTech

    Participated · Series B · May 2024

    Medintech develops a motorized, 50% lighter gastrointestinal endoscope and complementary AI software to detect abnormal regions and reduce misdiagnosis. The company’s founders spun out of the Korea Electrotechnology Research Institute and established the business in 2020. It holds Class II medical device approval for its motorized GI endoscope system and its anomaly‑detection software. Medintech is conducting clinical trials with Seoul National University Hospital and plans full market entry within the year. The company intends to further refine its AI convenience features to maximize the utility and ease of its motorized endoscope. Proceeds from its latest financing will be used to establish mass production capabilities and support overseas expansion. Cumulatively, Medintech has raised more than ₩28 billion to date.

  • ZUZU Hospitality

    Participated · Series B · May 2023

    ZUZU Hospitality offers a platform for revenue management and distribution that helps independent hotels compete with global chains. The company has developed an AI revenue management product called RevMate using a dataset from over 3,000 hotels across Southeast Asia and India. ZUZU says its existing hotel partners have seen an average 8x return on investment, and Wavemaker highlighted 30–40% growth in occupancy rates tied to the technology. The firm plans to use new capital to accelerate product development, expand data capabilities, and scale go-to-market efforts. ZUZU remains loss-making but reported revenue growth from $1.28 million in 2021 to $7.18 million in 2023, per DealStreetAsia’s DATA VANTAGE. The company cites McKinsey estimates that AI could generate over $400 billion in annual value across travel and hospitality, supporting its market opportunity. ZUZU Hospitality Solutions is a Singapore-based travel technology startup offering revenue platforms to help independent hotels maximize revenue. The company plans to invest in AI tools to enhance pricing, automate guest management, and improve partner experience. With the new funding it aims to double the number of hotel partners and reach 5,000 partners by the end of 2024, with particular emphasis on India. Management framed the raise as validation of investor confidence after the company sustained operations through the pandemic. The statement also cites a recovering Southeast Asian online travel market as a tailwind for growth. Zuzu combines software and hands-on services to help independently owned small hotels outsource bookings, marketing, revenue management and dynamic pricing while preserving each property's own brand. The team checks in with hotels every one to two days to revamp online marketing content, find new distribution channels and collect guest reviews through Zuzu’s site. Most hotels on the platform prefer a revenue-sharing payment model, aligning Zuzu’s incentives with its clients. The company claims hotels can see a 60% to 100% increase in online bookings after signing up. Since launching last July, Zuzu has signed more than 150 hotels across Taiwan, India and Thailand and plans to expand further in Asia. Financially, the startup has raised $2 million in a seed round plus angel investments, bringing total capital raised to $3 million.

  • Hummingbird Bioscience

    Participated · Series B · Dec 2019

    Hummingbird Bioscience discovers and engineers precision therapeutics using a proprietary Rational Antibody Discovery platform to target optimal yet elusive epitopes. The company is advancing a pipeline of first- and best-in-class therapies in oncology and autoimmunity, including clinical-stage assets. Lead programs include HMBD-001, a HER3 antibody for NRG1-fusion and HER3-driven tumors, and HMBD-002, a first-in-class anti‑VISTA neutralizing antibody for advanced solid tumors. The company is also progressing HMBD-009, a BCMA‑TACI dual‑specific T cell engager, as part of its next‑generation pipeline. Hummingbird collaborates with global partners in academia and industry to advance its programs. Piers Ingram is CEO and co-founder. Hummingbird Bioscience is a biotherapeutics company developing antibody-based treatments for cancer and other diseases. The company has published data on two oncology antibodies and expects to submit regulatory filings to start Phase 1 studies in the second half of this year. It said the new funding will be used to accelerate those therapies into clinical trials and to expand research and development for its early-stage pipeline. Hummingbird has offices in Singapore, Houston and South San Francisco and strategic collaborations with Cancer Research UK and Amgen. It was previously awarded a product development grant from the Cancer Prevention and Research Institute of Texas. Financially, the company has now raised $65 million in total, with the Series B reaching $25 million after the recent extension. Hummingbird Bioscience is a biotherapeutics company developing precision antibody therapeutics using a proprietary rational antibody discovery platform and systems biology expertise. It is building a broad pipeline of first- and best-in-class drug candidates across multiple indications, including HMBD-001 (anti-HER3) and HMBD-002 (anti-VISTA) for cancer. The company raised US$19M in a Series B and intends to use the funds to discover new disease targets, expand its antibody pipeline, and accelerate co-discovery projects under a multi-target collaboration with Amgen. HMBD-001 and HMBD-002 are expected to enter first-in-human clinical trials following regulatory submissions in the second half of 2020. The Series B was co-led by Mirae Asset Venture Investment and GNTech Venture Capital, with participation from existing investors Heritas Capital and Seeds Capital and new investors including Delian Capital, Mirae Asset Capital, DAValue-GiltEdge, HB Investment, Wooshin Venture Investment, and Kiwoom Investment-Shinhan Capital. Led by CEO and co-founder Dr. Piers Ingram, the company has strategic collaborations with Cancer Research UK and Amgen and is based in Singapore, Houston (Texas) and South San Francisco (California).

Team

No current team members are available.