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[StartupRecipe] Healthcare Startups Attract Most Investment in February

#Weekly Funding Overview

[Mar. 4 ~ Mar. 8]

The total funds raised by Korean startups of the week is KRW 103.5 Billion.

WiseaiAI Platform10 billionSeries BIBK-BNW, Q capital partners, SJ GB ESG fund
ChequerCloud security-Salesforce Venture, ZVC
ProEn TherapeuticsBio-Kolmar
DinozKids care-Pre-Series AMashup Ventures, Thanks Ventures, Bon Angels Ventures Partners
RealdrawAI Webtoon production-Pre-Series ASpring Camp
DoinglabAI Food-Series A BridgeInsight Equity Partners
SecurityplatformSecurity solution6 billionSeries BVine Ventures, Pearl Abyss Capital, Korea Investment
AlicornSpace management-Designhouse
Point2 technologyNetwork cable30 billionSeries B1Bosch Ventures, Molex
Vivid healthHealthcare-SeedKakao Ventures
Trans farmerfarming platform-SeedSopoong Ventures
otomHealthcare device2 billionDongkoo Bio
ManwolF&B Branding-Hisstory Venture Investment
Grade health chainHeathcare6 billionSeries BStarset Investment, Quad Asset Management
Persona AIInvestment AI-Naver cloud
Korea Credit ServiceCredit Bureau5 billionDGB Daegu Bank, IBK Industrial Bank, Korea Credit Data
Roun& CompanyGen AI-SeedMark & Company, Yoonmin foundation
HutomHealthcare20.5 billionSeries CNice Investment Partners, Nonghyup Bank, Hyundai Investment Partners, Bokwang Investment, Honest Ventures, Envester, BYB Investment, Ajou IB Investment, SK Securities
ZenixLogistics20 billionPre IPOAIM Investment, KB Securities, Kiwoom Capital
NurihausK beauty creator community2 billionSeries ARegent Partners, Nature& Nature, PS Ventures
ObitusKids marketplace-SeedSpring Camp
ReadypostProptech2 billionPre-Series AKB Investment, ES Investor
BeebleWeb3-Animoca Brands

#Major Funding

  • Point2Technology, a manufacturer of communication cables, attracted $23 million investment. Founded in 2013, the company has developed e-tube technology that is 80% lighter and 50% smaller than existing copper wires. It can also reduce power consumption and costs by 50% compared to optical cables.
  • Logistics Automation Solution Provider Zenix Secured KRW 20 billion Pre-IPO Investment. The company is competitive in the automated guided vehicle (AGV) and autonomous mobile robot (AMR) sectors.

#Trend Analysis

Korean startups received KRW 312.7 billion in investment in February. While this is down from the previous month, it is still 50% higher than the previous year, marking a different trend compared to the decline seen at the beginning of last year. The drop in investment was due to fewer growth-stage investments compared to January. The number of deals was also slightly down from the previous month, totaling 90.

The biggest recipient was the digital learning platform Flexcil, which raised KRW 50 billion. This was followed by the used car selling platform PRND(Haydealer), which raised KRW 45 billion, and the Senior care service Caring, which raised KRW 40 billion, completing the top three.

In February, the healthcare sector saw the most investments. Five of the top 10 investments were in digital healthcare, including senior care, sleep tech, and medical devices. Investor interest in digital healthcare startups has been growing since last year and continued earlier this year.

Software startups, such as AI semiconductors and generative AI, were less active. Consumer tech also saw no large-scale investments, mostly seed investments. Instead, investors focused on areas that have seen occasional large investments, such as edtech, mobility, and robotics companies, as well as sustainability startups like cultured meat.

The overall numbers were all down, with total investment volume falling by nearly half from the previous quarter. There were no KRW 100 billion deals, and the number of KRW10 billion-plus companies was cut in half, but fortunately, the number of deals in the KRW 40-50 billion range remained consistent. Early-stage investments dominated, with Series B and above accounting for less than 10% of all investments.

Early investors were active as news of intensive investments from accelerators such as Antler Korea, which operates the flagship program, spread, and at the growth stage, KDB and IMM Investments invested. KDB has invested in four of the top five companies. Global investors include Altos Ventures, ZVC, and SBVA.

The beauty tech company APR, which became a unicorn last year, announced its successful KOSPI debut. Following a successful initial public offering, the company closed 27% higher on its first day of trading. While there were no notable acquisitions, InJob Korea acquired the recruitment solution Ninehire, strengthening its recruitment sector.

In February, female-founded companies raised KRW 2.25 billion in funding, mostly at the seed and pre-Series A stage. The sectors included fintech, healthcare, and fashion.

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