CoverThurman, a lifestyle fashion tech company, announced on March 13th that it has successfully completed a 5 billion won Series A funding round. The investment was led by Intervest, along with participation from JS Corporation, Big Move Ventures, and Mark 420. With this latest funding, CoverThurman’s total investment to date reaches 10 billion won.
CoverThurman specializes in researching and developing sustainable textile material technology. The company’s core innovations include:
- Air tech, which utilizes air as a filler.
- Heating tech, which generates heat without the use of wires.
- UV color change technology, which changes colors in response to ultraviolet light.
Since its founding in 2017, CoverThurman has secured 25 domestic and international patents and patent applications, along with 215 design rights and trademark IPs. The company has also expanded its reach beyond the domestic market to include the United States, Japan, China, and Europe, through collaborations with Itochu Corporation, JS Corporation, Pharmaceutical Affairs, and UBASE. Key clients include well-known names such as Balenciaga, Descent, LTEKS, K2, and Nepa.
CoverThurman also operates a fashion brand called KEK, which is known for its Pillowdy line, combining the elements of a pillow and a hood. KEK is expanding its offline presence through airport duty-free shops and department store pop-up stores.
With this Series A investment, CoverThurman plans to enhance its technological competitiveness. The company intends to establish R&D centers, construct smart factories, and develop an intellectual property (IP) licensing business for its smart fabric technology within the current year.
Kim Yoo-sik, Executive Director at Intervest, the lead investor in this round, expressed his enthusiasm, stating, “We highly valued the technology that combines sustainability and functionality. We anticipate that CoverThurman will establish a strong position in the global fashion tech market by embarking on technological innovation and product diversification.”
Lee Jae-ho, CEO of CoverThurman, added, “Our strategy is to bolster market competitiveness through our own distinguished technology. We are planning to actively expand collaborative ventures with diverse consumer goods companies to position ourselves as a leading tech company that is deeply integrated into the lifestyle sector.”
