ByteLab Secures Investment of 10 Billion Won... Accelerates R&D and Business Infrastructure Upgrades

Brand commerce company ByteLab has secured its first-ever external investment since its founding, marking the beginning of full-fledged efforts to upgrade its business infrastructure and conduct strategic product research and development (R&D).

ByteLab announced on the 19th that it has raised an investment in the range of 10 billion won. This round saw participation from domestic venture capital firm Atinum Investment, with CJ Olive Young coming on board as a strategic investor (SI).

This is the company’s first time raising external capital. Founded in 2020, ByteLab has grown its business exclusively through its own brands, without outside investment. Including its subsidiaries, ByteLab posted sales of approximately 60 billion won last year.

ByteLab operates proprietary brands such as the hair care brand 'lilyeve', skincare brand 'Saekdong Seoul', and lifestyle brand 'Baruner'.

The flagship brand lilyeve is a hair care line that approaches hair loss treatment from the perspective of scalp structure and condition. It has distinguished itself in Amazon’s U.S. hair care category and is expanding its presence in North America, Asia, and the Middle East. Baruner is a lifestyle care brand proposing ergonomics-based solutions and is expanding its lineup of device products, while Saekdong Seoul is a K-skincare brand that combines Korean aesthetics with modern dermatological science.

ByteLab plans to use the newly raised funds for next-generation strategic product R&D, upgrading its business infrastructure, and securing key talent. In particular, the company plans to recruit more than 30 outstanding domestic and international professionals by the second half of this year.

ByteLab CEO Cho Yonghoon stated, “For five years since our establishment, we have built brand competitiveness and a foundation for growth without any external investment, and this round of funding is a recognition of our potential. We will continue to foster K-consumer brands that resonate globally and take a leap forward as a global brand builder.”

This content was produced with the assistance of AI translation services.