Sports intellectual property (IP)-based fashion commerce startup RaceOn has secured new investment.
On the 13th, according to the venture capital (VC) industry and others, RaceOn recently carried out a seed round and raised new funds totaling 200 million won from angel investors.
RaceOn is a startup that discovers and secures emerging sports IP early, then plans and sells IP-based fashion products, and it launched in June 2023.
Recently, it exclusively secured the global master license of "Black Combat," Korea's No. 1 mixed martial arts organization. On Apr. in, it built a dedicated store and recorded a 24% repurchase rate.
The company plans to use the seed round proceeds to discover new IP in addition to Black Combat. It is also planning to develop an artificial intelligence (AI)-based IP discovery and evaluation engine.
Seo Jeong-eun, CEO of RaceOn, said, "We will expand our IP portfolio and grow into a sports IP commerce platform representing Asia."