• Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • FinTech
    • Gadgets & Electronics
    • Health & Bio
    • IoT
    • Marketplaces & E-commerce
    • Robotics
    • Transportation & Logistics
    • Investments
    • Ecosystem & Lists
  • Interviews
  • Events
    • ComeUp
    • NextRise
  • Governments
    • KISA
    • KISED
    • KOCCA
    • KOTRA
    • KTO
    • MSS
    • NIPA
    • SBA
    • SFL
  • Programs
    • SGSC Global Bootcamp 2021
    • LAUNCHPAD
    • COMEUP STARS 120
    • K-Startup Grand Challenge
    • TIPS X beSUCCESS Global Project
    • SFL Global Program
    • KTO Global Showcase
  • Investment Opportunities
    • SGSC Demo Day
    • Launchpad France Demoday
    • TIPS Global Demoday
    • Launchpad USA Demoday
    • Launchpad Indonesia Demoday
  • Submit an Article
  • register
  • login
KoreaTechDesk
No Result
View All Result
KoreaTechDesk
No Result
View All Result
Home Marketplaces & E-commerce

Korea’s leading Interior design platform ‘OHouse’  attracts $190 million in investment

Jeon Jinju by Jeon Jinju
May 10, 2022
in Marketplaces & E-commerce
0
Today's House

Bucketplace operates 'Today's House', a leading interior design platform.

0
SHARES
791
VIEWS
Share on FacebookShare on Twitter

Everyone wants to live in a beautiful abode with eye-catching interiors and aesthetic furnishings. According to Statistics Korea, the domestic home furnishing market in Korea (sales of durable goods such as furniture, home appliances, and accessories) has grown from about 73 trillion won ($57 billion) in 2018 to about 89 trillion won ($69 billion) in 2021. The interior remodeling market in Korea, compiled by the Korea Construction Industry Research Institute, will also reach 30 trillion won ($30 billion) in 2020.

This helped Korean startup Bucketplace Co. climb to a leading position as an interior design platform selling an array of curated interior design and decoration items. The startup that operates the popular lifestyle app – OHouse’ – has attracted a new investment of 230 billion won ($190 million) for the growing business. The small company started by three people has become the largest interior platform company in Korea, with one in five Koreans joining it.

This investment was led by Korea Development Bank, which invested 100 billion won ($78 million). Domestic investors such as IMM Investment, Mirae Asset Capital, KB Digital Platform Fund, Smilegate Investment, global investment companies Softbank Ventures, BRV Capital Management, and Temasek, Singapore’s sovereign wealth fund, invested in this investment. Foreign investors such as Vertex Growth, a venture investment subsidiary, and BOND, a Silicon Valley investment company, participated.

Bucketplace to invest more in technology innovations

OHouse was established in 2013 with the motive to move the home furnishing/interior market online. The monthly transaction amount for the platform during peak season is about 180 billion won ($141 million). Recently, it has expanded its business to include various service areas related to the House, such as construction, installation/repair, and moving, so that all experiences related to the customer’s House can be improved in one-stop. In addition, it entered the global market by acquiring Singapore’s online furniture platform Hipvan last year.

OHouse has been steadily investing in technology and infrastructure. Last year, it started a microservice architecture (MSA) transition to expand large-scale customer events to more users and operate stably. ‘OHome Delivery,’ which began in June 2021, is also receiving favorable reviews for its next-day delivery, free installation, and convenient return. Home furnishing retailer IKEA Korea also launched ‘O House X IKEA Korea Kitchen Installation Service,’ a pilot service for IKEA Korea kitchen products in August 2021.

OHouse has a development team composed of top tech companies in Korea and abroad, such as Google, Amazon, Naver, Kakao, and Line. It plans to continue to increase developer recruitment significantly. In addition, it is spurring various technological innovations, such as the introduction of technology infrastructure for stable scale-up and service advancement using machine learning and 3D/AR. In addition, it plans to innovate the logistics network through technology investment and increase investment in hiring-related personnel. Bucketplace CEO Lee Seung-Jae said, “OHouse will grow into a lifestyle super app that can solve everything related to the House beyond the interior. We will do our best to expand globally.”

Also Read,

  • Archisketch: The world’s simplest interior design tool made by a Korean startup
  • Korean startup’s design platform Interior Teacher can make your home-styling dreams come true 
  • Seoul-based startup Carpenstreet’s design market platform Acon3D for ease of 3D creations
  • Spatial design startup Urbanbase attracts $11.1 million Series B+ investment
What’s your thoughts?
+1
1
Upvote
+1
0
Clap
+1
0
Clap
+1
0
On fire
+1
0
Meh
+1
0
Clap
+1
0
Tags: BucketplaceInterior DesignInvestmentOnline marketplaceToday's House
Previous Post

Korean Webtoon companies that are giving the audience addictive content

Next Post

Haegin, developer of the mobile game ‘Play Together’, attracts investment from SK Square & SK Telecom

Next Post
Haegin

Haegin, developer of the mobile game 'Play Together', attracts investment from SK Square & SK Telecom

0 0 votes
Article Rating
Subscribe
Login
Notify of
Please login to comment
0 Comments
Inline Feedbacks
View all comments
No Result
View All Result

Follow Us

FREE NEWSLETTER

Ecosystem Partners




PRODUCTS

Most Popular

  • 10 K-Dramas to watch for some ‘money matters’

    0 shares
    Share 0 Tweet 0
  • Top Korean Dating apps that can help you make new connections in South Korea

    1 shares
    Share 0 Tweet 0
  • Korean startups to showcase technological proficiency at CES 2023 from January 5 to 8 in Las Vegas 

    0 shares
    Share 0 Tweet 0
  • Korean hospitality tech startup Onda attracts over $9 million in investment

    0 shares
    Share 0 Tweet 0
  • Three Restaurant Apps to try out for a fine dining experience in South Korea  

    9 shares
    Share 9 Tweet 0
  • Korean startups creating the K-Beauty buzz worldwide

    11 shares
    Share 11 Tweet 0
  • Korean webtoon ‘Lookism’ creator ‘The Grim Entertainment’ attracts $9.1 million investment

    0 shares
    Share 0 Tweet 0
  • Seoul Robotics aims for an IPO in 2025, post-Series B funding of $ 25 million

    0 shares
    Share 0 Tweet 0
  • Fintech startup Wavebridge attracts $7.8 million in Series B investment

    0 shares
    Share 0 Tweet 0
  • Korean vegan food tech startup Join&Join shows 120% annual sales growth for brand Nuldam

    0 shares
    Share 0 Tweet 0
  • Facebook
  • Instagram
  • LinkedIn
  • Twitter

Copyright © 2023 KoreaTechDesk | About Us | Sponsorships| Terms of Use |Privacy Policy |Cookie Policy Contact: [email protected] DMCA.com Protection Status

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • FinTech
    • Gadgets & Electronics
    • Health & Bio
    • IoT
    • Marketplaces & E-commerce
    • Robotics
    • Transportation & Logistics
    • Investments
    • Ecosystem & Lists
  • Interviews
  • Events
    • ComeUp
    • NextRise
  • Governments
    • KISA
    • KISED
    • KOCCA
    • KTO
    • KOTRA
    • MSS
    • NIPA
    • SBA
    • SFL
  • Programs
    • LAUNCHPAD
    • COMEUP STARS 120
    • K-Startup Grand Challenge
    • TIPS X beSUCCESS Global Project
    • SFL Global Program
    • KTO Global Showcase
  • Investment Opportunities
    • Launchpad France Demoday
    • TIPS Global Demoday
    • Launchpad USA Demoday
    • Launchpad Indonesia Demoday
  • Submit an Article
  • Forums
  • register
  • login

Copyright © 2023 KoreaTechDesk | About Us | Sponsorships| Terms of Use |Privacy Policy |Cookie Policy Contact: [email protected] DMCA.com Protection Status

wpDiscuz
0
0
Would love your thoughts, please comment.x
()
x
| Reply

We hope you enjoy our content, May you please give us Feedback regarding our website!

Single Post Feedback

dgdfgfdgdf

What you think about Koreatechdesk, Share your idea with us!

feedback popup

Invitation submission has been closed

Insert/edit link

Enter the destination URL

Or link to existing content

    No search term specified. Showing recent items. Search or use up and down arrow keys to select an item.