REVATION, attracts Pre-A investment
- 관리자
- 2023.06.10
The eco-friendly packaging one-stop development solution company, Revation (represented by Lee Min-sung), has successfully completed its Pre-A series fundraising round. The investment amount remains undisclosed.
In this recent Pre-A series investment round, participation came from Korea Investment Accelerator, Hanyang University Technology Holdings Company, Yuhan-Kimberly Green Impact Fund (operated by MW Social Company), S Cube Angels Private Investment Association, and Prism Youth Entrepreneurship Private Investment Association.
Established in 2021, Revation is not just a design research lab or development firm but a 'product one-stop development solution company' that also engages in eco-friendly material development, production, branding, and design. It offers solutions that replace petroleum-based plastics with eco-friendly materials throughout the product development and production stages.
Revation aims to meet customer needs for carbon reduction through resource reuse, recycling, plastic production reduction, and biodegradability by planning, developing, manufacturing, delivering, and managing product packages in a one-stop manner. Additionally, it has contributed to enabling rapid productization by providing material development and CMF process development capabilities as a 'CMF R&D specialized technology' company.
As of May, Revation has secured 70 corporate clients and completed the production of products for 40 companies, achieving a 550% revenue growth compared to the previous year. Moreover, it has been recognized as a leading ESG company, starting with its selection as a Super Start Incubator ESG category company on LG's Startup Open Innovation Platform 'SUPERSTART' in 2022, followed by selection as a company for '2023 ESG Korea' by SK Telecom in May 2023, and for 'Dream Challenger #3 Right Companion 3rd Generation' and '2023 Yuhan-Kimberly & MYSC Green Impact' by Korea Investment Accelerator.
Lee Min-sung, CEO of Revation, stated, "Through the Pre-A series funding, we plan to enhance Revation's capabilities by securing additional professional development talents and R&D, and we are also planning the next investment round in the near future."
Through active investment, Revation aims to establish a highly advanced eco-friendly product R&D system and a high-volume production process and leap as a hub company for global eco-friendly product manufacturing. Additionally, it is planning to establish overseas subsidiaries to pursue global expansion through product development with global material companies and customers.
Revation is garnering attention for its future role as an ESG management partner and a hub company in the product field, leading the transition to a plastic-free society.