Global Investors Rush to K-Beauty as BENOW Becomes Unicorn

Industry Insights from Next Move Strategy Consulting

Overseas venture capital is flowing into South Korea’s beauty startup sector, highlighting a resurgence of investor interest in the nation’s consumer brands and innovative technologies.

Venture investment platform The VC reported on Sunday that in the past year, at least five K-beauty startups—ranging from cosmetics e-commerce platforms to indie brand incubators—have attracted foreign investment.

The list of companies includes Memebox, Bplant, Jungsaemmool Beauty (JSM Beauty), SkinSeoulLab, and Best Innovation.

Recent Funding Highlights in K-Beauty Startups

• Best Innovation – The operator of skin brand Kopher secured 23 billion won ($16.5 million) in a funding round led by New York-based private equity firm Ulysses Capital.

• SkinSeoulLab – The K-beauty e-commerce platform gained backing from Silicon Valley accelerator 500 Global and Singapore-based Blueprint Ventures.

• Bplant – The company behind skincare brand Kurved raised 7 billion won last month from US venture investor Altos Ventures.

Rising Cross-Border Deals in K-Beauty

The growing wave of international investments coincides with the K-beauty industry giving rise to its second unicorn—a privately held company valued at over 1 trillion won.

BENOW Reaches Unicorn Status

According to the Ministry of SMEs and Startups, beauty startup BENOW surpassed a valuation of 1 trillion won in its most recent fundraising round, cementing its position as a major player in South Korea’s beauty ecosystem.

APR Surpasses Amorepacific in Market Value

Since its public listing last year, APR has outpaced Amorepacific Corp., reaching a market capitalization of over 8 trillion won.

Policy Momentum Boosts Beauty-Tech

Investor optimism is also influencing policy directions. Korea Venture Investment Corp. (KVIC) has recently designated beauty-tech—including medical aesthetic devices—as a key focus area under its state-backed “K-Bio Vaccine Fund.”

Domestic Investors Expand Focus on Beauty-Tech Integration

Domestic investors are also increasing their participation. Seoul-based The Ventures noted that meeting requests from beauty-tech founders have tripled in the past year, with the proportion of beauty startups under its investment review rising to 18.4% in 2025, up from 5.8% in 2024.

Analysts suggest that this surge in activity highlights not only the sustained global demand for Korean beauty products but also the expanding convergence of beauty and technology, encompassing innovations such as AI-powered skincare diagnostics and at-home aesthetic devices.

Source: https://www.kedglobal.com/ 

Prepared by: Next Move Strategy Consulting