Sejinsa Lands SNU Technology Holdings Bridge Round, TIPS Selection
The Korean startup secures a bridge investment from Seoul National University Technology Holdings and 800 million won in TIPS R&D funding over two years.
Sejinsa announced it has secured a bridge investment from Seoul National University Technology Holdings and was selected for TIPS, the startup support program run by the Ministry of SMEs and Startups, according to venturesquare.net.
Under the TIPS selection, Sejinsa will receive 800 million won in R&D funding over two years.
The bridge round follows a 1.5 billion won seed investment by Hashed Ventures.
Sejinsa plans to direct the funds toward customer acquisition, upgrades to its operational infrastructure, and hiring key personnel.
From car wash startup to TIPS
Sejinsa began as an on-demand car wash service in August 2023. As of September this year, cumulative car washes had exceeded 60,000, and its service crew had surpassed 4,000 people.
Quick answers
How much funding does Sejinsa receive under TIPS?
Sejinsa will receive 800 million won in R&D funding over two years under the TIPS program run by the Ministry of SMEs and Startups.
Who led Sejinsa's earlier funding?
Hashed Ventures made a 1.5 billion won seed investment, which the new bridge investment from Seoul National University Technology Holdings follows.
What will Sejinsa use the new funds for?
The company plans to spend the investment on customer acquisition, operational infrastructure upgrades, and hiring key personnel.