- Over 130 local companies participated in 'Wadiz Funding Briefing Session' in Shenzhen, China on April 19th
- Chinese tech startups look to Korean crowdfunding platform Wadiz as a new channel for overseas expansion
- Wadiz recruits domestic funding partners to collaborate with Chinese makers
Funding Store Platform Wadiz announced today that it successfully hosted a funding briefing session 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 using global crowdfunding platform Wadiz.
The event saw the attendance of 130 promising Chinese companies from various sectors, including hardware tech firms, demonstrating significant interest in entering the Korean market. Wadiz initially planned the briefing for around 100 companies, but due to an unexpectedly enthusiastic response, pre-registration closed early, leading to an expansion of the capacity.
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 briefing introduced the characteristics of the Korean market and plans to launch Wadiz's global service, 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.
Wadiz plans to recruit domestic funding operators to collaborate with local Chinese manufacturers and funding agencies in the future. If selected as an official global partner of 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 to expand its role as a 'cross-border' platform to help global innovative companies enter the global market."
