Naver D2SF makes follow-up investment in fashion startup Onthelook

Naver D2SF, Naver Corp.'s startup investment arm, made a follow-up investment in fashion content startup Onthelook.

The company said on Wednesday that it has made an investment in the mobile fashion retailer after making its first investment in April this year.

OnTheLook's latest series A investment is worth 7 billion won ($5.5 million), and KB Investment was the lead underwriter. With this, the company succeeded in attracting about 10 billion won in investment in 2022 alone, despite the difficult situation in the startup investment community recently.

OnTheLook is running a mobile platform that analyzes user tastes and purchase patterns and recommends content from fashion creators suitable for them. Optimized for users' tastes, it allows them to check the latest fashion trends and related product information with convenience.

"OnTheLook is growing as an essential app for dressing fashionably by implementing creator commerce with a high level of perfection in the fashion area. We expect to create synergies by joining hands with Naver by expanding overseas," said Yang Sang-hwan, leader of Naver's D2SF, in explaining the reason for the follow-up investment.

“Recently, a local organization in Japan selected OnTheLook as one of the best 2023 trend prediction apps, and many overseas users are interested as well. With the series A investment as momentum, we will accelerate our effort to hire talent and offer better services," said Lee Dae-beom, CEO of OnTheLook.

Write to Seung-Woo Lee at leeswoo@hankyung.com