Lifestyle fashion tech startup CoverThurman announced on March 13th that it has secured a Series A investment worth 5 billion won (approximately $4 million USD). The company specializes in the research and development of sustainable textile materials. Officially launched in 2017, CoverThurman has filed for and received 25 domestic and international patents, alongside 215 design and trademark rights.
CoverThurman’s core technologies include:
- “Air tech,” which utilizes air as a filler.
- “Heating tech” that generates heat without wires.
- “UV color change” to change color through ultraviolet reactions
CoverThurman has also been consistently selected for TIPS and Post TIPS, two start-up promotion programs co-sponsored by the Ministry of SMEs and Startups. The recent investment round saw participation from Intervest, JS Corporation, Big Move Ventures, and Mark 420. This brings CoverThurman’s cumulative investment total up to 10 billion won (approximately $7.5 million USD).
The company plans to use this Series A funding to build a new R&D center and a smart factory within the year. Furthermore, CoverThurman intends to license its smart fabric technology to increase its competitive edge and accelerate its entry into the global market.
CoverThurman’s major clients include established brands such as Balenciaga, Post Archive Faction (PAF), Descente, Eltex, K2, and Nepa. Recently, the company has been expanding its international reach through collaborations with Itochu Corporation, JS Corporation, Yakshin Tongsan, and Ubase. The company’s own fashion brand, KEEK, is broadening its offline distribution networks through airport duty-free shops and department store pop-up stores.
Lee Jae-ho, CEO of CoverThurman, stated, “This investment will provide the foundation for upgrading our technological capabilities and expanding collaboration lines with various industrial goods companies, establishing CoverThurman as a leading tech company focused on lifestyle integration.”
