- Over 130 local companies participated in 'Wadiz Funding Presentation' on April 19 in Shenzhen, China
- Chinese tech startups look to Korean WadizWadiz as a new channel for overseas expansion
- Wadiz recruits domestic funding partners to collaborate with Chinese makers
Funding Store Platform Wadizannounced today that it successfully hosted a funding briefing for local tech-based innovative companies in Nanshan, Shenzhen, China.
The event was designed to introduce startups and tech innovators from Shenzhen, China to the Korean market usingWadizglobal crowdfunding platform Wadiz.
The event was attended by 130 promising Chinese companies from various sectors, including hardware tech companies, who showed high interest in entering the Korean market. Wadizinitially organized the event for 100 companies, but due to the overwhelming response, the pre-registration was closed early and the capacity was expanded.
This interest is due to the fact that Chinese companies are looking for new channels to expand overseas due to uncertain international tariffs. In particular, crowdfunding in South Korea is a testbed channel for many Chinese tech companies, as it allows them to quickly gauge consumer response before launching.
The presentation introduced the characteristics of the Korean market and Wadiz's plans to launch global services, and also shared examples of Chinese hardware startups that have successfully entered the Korean market with Wadiz.
For example, Roborock, a global robot vacuum cleaner brand, raised Wadiz funding in December 2021, raising about $310 million at the time.
Recently, Hover, an AI flying camera gimbal drone, raised 200 million won in the first day of funding, while Shenzhen-based maker Laser Pecker raised 1 billion won for its laser-engraved products.
Wadizplans to recruit domestic funding operators to collaborate with local Chinese manufacturers and funding agencies in the future. If selected as an official global partner Wadiz, they will play a role in helping outstanding Chinese makers enter and stabilize the Korean market. For more information and to apply, please contact the Wadiz Connect team at team.connect@wadiz.kr.
"This event has convinced us that Chinese companies are looking to Korea as a new route to overseas expansion," said Mubin Seo, Team Leader of Wadiz Connect, who organized the event. "Wadiz will continue Wadizexpand its role as a 'cross-border' platform to help global innovative companies enter the global market."
