On April 16, 2024, Upstage Co., Ltd. closed the transaction. The company has received KRW 75 billion in its second tranche led by a group of prominent investors including new investors, Shinhan Venture Investment Co, Ltd., The Korea Development Bank, Industrial Bank of Korea, Hana Ventures Inc., Mirae Asset Venture Investment Co., Ltd., IBK Securities Co. Ltd., Investment Arm and existing investor KT Corporation.

The transaction included participation from existing investors, SBVA, Premier Partners, LLC, Company K Partners Limited, and Primer Sazze Partners. The company has received KRW 100 billion in its series B round of funding. The company has raised total KRW 140 billion in funding till date.