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korea startup news Startup

South Korean Startup Funding Roundup: Year-End 2020

Philip Lee profile image
by Philip Lee
Updated
South Korean Startup Funding Roundup: Year-End 2020
Photo by Markus Winkler / Unsplash

Investment news for Korean startups from December 28, 2020, to January 3, 2021:

Twenty-two funding rounds were reported in the final week of 2020. Most investments were directed toward early-stage startups at the Pre-A and Seed stages.

Dongnae, a prop-tech startup, secured KRW 4.5 billion (US$4.1 million) in seed funding. Flybridge led the round, which also included MetProp, Goodwater Capital, Maple VC, and various angel investors from South Korea and the United States.

Former executives from WeWork Korea and WeWork APAC co-founded the company.

The Jeju startup ecosystem announced funding for six early-stage startups. Jeju, an island off the southern coast of South Korea, has been developing its startup community.

The funding rounds were categorized as follows:

  1. Pre-IPO & Series B: 3 companies
  2. Series A: 3 companies
  3. Pre-A Stage: 5 companies
  4. Seed Stage: 11 companies

The original report provided detailed information about each funding round, including company names, investment amounts, business models, and investors.

1. Pre-IPO & Series B

Startup

Amount

Business Model

Investor(s)

Bertis

(Pre-IPO)

KRW 16B

(US$ 15M)

Proteomics-Based Early Breast Cancer Blood Test Solution

SmileGate Investment

Premier Partners

BNH Investment

KCLAVIS Investment

Focus Asset Management

NH Investment & Securities

Meritz Insurance

Dreamstone Partners

Smart Radar System

KRW 11.2B

(US$ 10M)

Radar for Autonomous Driving

Korea Investment Partners

BSK Investment

GU Equity

Hemi Ventures

Nexty Electronics

SPARX Group

LetinAR

KRW 8B

(US$ 7.4M)

Glasses for AR based on Pin MR technology

Naver D2SF

KDB Capital

IBK Capital

2. Series A

Startup

Amount

Business Model

Investor(s)

The Vita

KRW 4B

(US$ 3.7M)

Healthcare data aggregation, analysis, and reward model for users.

GI Biome

Perfit

KRW 2.5B

(US$ 2.3M)

Shoe size recommendation solution based on IoT

Capstone Partners

Sparklab

Shinhan Capital

KODIT

TBT

Studypie

KRW 2.15B

(US$ 2M)

Online Tutoring brokerage platform

Altos Ventures

Qualson

3. Pre-A Stage

Startup

Amount

Business Model

Investor(s)

Adoba

KRW 1B

(US$ 0.92M)

MCN for the Chinese market

Union Investment Partners

Laguna Investment

DevStack

N/A

Cloud Virtualization Solution

Namu Tech

FSC

N/A

eCommerce with Digital Goods

QUAD Ventures

Hayan Mind

N/A

English Edtech

JB Ventures

Nature Mobility

N/A

Car sharing Service

KOSMES

KOMAX Ventures

History Venture Investment

4. Seed Stage

Startup

Amount

Business Model

Investor(s)

DN Korea

KRW 4.5B

(US$ 4.1M)

Proptech in the Real estate brokerage platform

Flybridge

MetProp

Goodwater Capital

Maple VC

Daeyang Intelligence

N/A

Library Management System

CCEI Jeju

Like A Local

N/A

Domestic Inbound Traveler Matching

CCEI Jeju

JeClean

N/A

Laundry O2O Platform

CCEI Jeju

SGMA

N/A

Fishing Information System

Bridgesquare

Y&Archer

Weplay

N/A

Sports Facility Reservation and Matching

Bridgesquare

TFORUS

N/A

Block coding editor SW

Bridgesquare

Routinery

N/A

Habit Management

DHP

The Invention Lab

MedInTech

N/A

Medical Equipment

FuturePlay

Resellground

N/A

Used Luxury Goods Bidding

Korea Venture Investment

Yozma Group

GenieRobot

N/A

Robotics

Next Challenge

Philip Lee profile image
by Philip Lee
Updated

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