FactoSquare

FactoSquare operates as a B2B platform focused on innovating the manufacturing process for the K-beauty cosmetics industry. Founded in 2023 by CEO Hong Il-ho, COO Ahn Seong-hyun, and CPO Park Jin-hee, the company is headquartered in Seoul, South Korea. The founders came together through the Antler Korea startup generator program. CEO Hong Il-ho previously worked at IBK Bank and has experience running brand aggregator businesses. COO Ahn Seong-hyun brings experience from Lotte Chilsung's quality assurance team and its in-house venture program.

The company addresses a significant pain point in the cosmetics market: the high minimum order quantities (MOQ) required by traditional manufacturers. FactoSquare has built a network of over 80 specialized partner factories, which allows it to unbundle the production process—separating container manufacturing, printing, and raw material mixing. This network-based approach enables the company to offer a dramatically lower MOQ of 1,000 units, compared to the industry standard of 5,000 to 10,000 units. Consequently, the production lead time is reduced from a typical eight weeks to as little as three. By September 2024, the company had attracted approximately 1,700 brand clients and managed over 100 production projects.

FactoSquare's business model functions as an ODM (Original Design Manufacturing) joint-bidding and brokerage platform. It serves small to medium-sized businesses, influencers, and new entrepreneurs who have a brand concept but lack manufacturing experience. This includes international clients from the US and Italy looking to enter the K-beauty space. The company provides a total solution that encompasses not just production, but also branding, design, logistics, and export services. Revenue is generated through these manufacturing and value-added services. The company has successfully raised ₩800 million in a pre-Series A funding round from investors including Central Investment Partners, Korea Investment Accelerator, TheVentures, and Antler Korea.

Keywords: K-beauty manufacturing, small-batch cosmetics, ODM platform, cosmetics production, beauty supply chain, private label cosmetics, low MOQ manufacturing, beauty startups, cosmetics logistics, brand development, Seoul, Hong Il-ho, Ahn Seong-hyun, Antler Korea, contract manufacturing, beauty packaging, product formulation, supply chain optimization, beauty industry B2B, cosmetics export