Naver D2Startup Factory, the early-stage start-up investment subsidiary of South Korean internet giant Naver, has invested in two start-ups at the seed stage.
Still, the amount of the investments has yet to be made public.
Cloa and DeSilo, founded in February, were the funding recipients.
Cloa specializes in developing a data pipeline tool for real-time mass data processing, while DeSilo is creating a machine-learning solution using homomorphic encryption technology.
Homomorphic encryption allows processing on the same level as the encrypted data, thus solving privacy and data silo issues quickly.
BonAngels participated as a co-investor.
This marks the 51st investment by Naver D2Startup Factory, which focuses on the back-end’s core technology.
Previously, most of its assets were invested in start-ups, accelerating and innovating the business.
Naver tends to invest in high-technology sectors such as autonomous driving, artificial intelligence, and big data and is investing in start-ups based in South Korea to fill market gaps.
The firm’s investment requirements are technology, synergy with Naver, and being in a market, even if the market does not yet exist.
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