Interior designing has always been both an expensive and time-consuming process. However, technology has helped revolutionize renovation and more and more interior design startups in Korea are getting a lot of attention. Moreover, the advancement in technologies has allowed the interior design process to be both more engaging and enhancing for customers. Technologies such as VR and AR allow customers to see their dream space in the digital world. The evolution of tech innovation in the real estate industry in Korea has gone smoothly as many Koreans embrace new technologies better than most countries. Below are some innovative interior design startups in Korea reshaping both real estate and renovation.
Olim Planet is a Korean Proptech startup that uses VR technology to create virtual spaces of the exterior and interior of a building, apartment, or house. Their virtual show house platform is called Zipview and it can also do virtual spaces for retail stores, conferences, and exhibitions. Since COVID-19, the startup has gotten a lot of attention for its 3D-based virtual events. So far they have done over 400 VR projects. In addition, many realtors rely on Zipview to introduce homes and apartments to customers virtually and remotely since the pandemic. The startup is estimated to do $10 million in revenue for 2021 and plans to go public by the end of 2022.
They were able to get over 50 partnerships with furniture and home appliance companies. Most of their B2B clients are large conglomerates in South Korea and Japan. In addition, they have over 50,000 monthly active users with 70,000 registered B2C users.
Zenerate is the creator of a building design solution based on AI to optimize space layouts. Using AI technology, Zenerate looks for build design solutions that maximize architectural development projects’ viability. They help clients find the best solution for their desired conditions. It works by inputting all relevant data into the AI engine which then can generate all the possible options for building design. Zenerate works with construction companies and design companies to boost real estate development profitability.
Zenerate is now available in Los Angeles, CA and their goal for 2024 will be to expand into other cities across the United States.
Spacewavy is a modular home building startup that develops its modular home called Wavyroom. The home is manufactured in a factory and installed in a factory before being delivered to the desired location. Their plan for 2024 will be to increase their production speed for their high-quality small homes through a more semi-automated system.
Bucketspace operates a home DIY app called OHouse. It plans to offer an AR feature to help customers visualize products such as furniture for their homes. Therefore, they can see how a particular sofa will look in their home before they make any kind of purchase. OHouse was originally a community of people in Korea sharing their interior design content. Now, it is an app that has over 10 million users that not only showcases interior design content but allows customers to purchase items they like directly from the app.
They were able to raise $182 million for their Series D round. The latest funding puts their valuation over $1 billion. They will look to enter new markets in 2024 such as Japan, Southeast Asia, and the United States. In addition, they will look to offer a variety of services such as home improvement/repairs to moving services.
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