Kigle, a company specializing in apps and videos featuring kids' character IPs, has just secured 2 billion KRW in Series A funding from Union Investment Partners and KC Investment Partners. This new investment follows their previous 1.5 billion KRW Pre-A round. With this latest funding, Kigle has now accumulated a total of 3.5 billion KRW in investment, reflecting their growing value and potential. Union Partners, which also participated in the earlier investment, has joined in once again for this Series A round.

Founded in 2015, Kigle initially focused on licensed external IPs like Pororo, Tayo, and Robocar Poli. However, since their 2020 Pre-A investment, the company has shifted focus to their original character, Cocoby, and has been expanding their global app and video business.

CEO Yong-Soo Kim shared, “Our initial investment allowed us to validate our original character-based concept, and in 2023, we achieved a remarkable revenue growth, turning from a loss into profit. Currently, Cocoby IP contributes to over 80% of our revenue, and exports account for more than 80% as well.”

He added, “With this Series A funding, we plan to further strengthen Cocoby’s global business and aim to double our revenue from 5 billion KRW to 10 billion KRW as quickly as possible. We are committed to continuing our growth and building a thriving company.”

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https://news.mt.co.kr/mtview.php?no=2024073109513741601