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[StartupRecipe] Early Investors Favor Pet, Kids, and Senior Tech

#Weekly Funding Overview

[Mar. 11 ~ Mar. 15]

The total funds raised by Korean startups of the week is KRW 150.9 Billion.

ClifyMental wellness1.2 billionSeedDunamoo&Partners, 500Global
VagechipsGen AI-SeedThe Invention Lab
Bigpicture interactiveesports13.3 billionSeries CDaesung Venture capital, Hana Ventures, Smilegate Investment, Woori Venture Partners, DT&Investment, Daishin Securities,
Captianbongfishery ecommerce-SeedJeonbuk venture investment association
PromediusHealthcare11.2 billionSeries A2Stasset Investment, Korea Investment Partners, Woori Venture Partners, Crit Ventures, Big Move Ventures
Coloeum CorpFulfillment-Hyosung Ventures
BearroboticsRobotics80 billionLG Electronics
CloudmateCloud15 billionM&AAhnlab
ibex medical systemsHealthcare6.6 billionSeedCapstone Partners, Smilegate Investments, Seegene medical foundation
TestbankEdutech2.3 billionPre-Series AShinhan Capital, Sui Generis Partners, Kodit
Plume D3D Avatar-Pre-Series APostech holdings,
CIS ChemicalSecondary battery10 billionPre IPO
DaqdaMemorial service-Vaiv Company
FarmjoaFarmtech-Hite Jinro
UliftEdutech4 billionSeries ABon Angels Venture Partners, Access Ventures, Pathway Partners, Cosine Investments
AlgocareHealthcare15 billionSeries AStasset Investment, Company K Partners, Murex Partners, L&S Venture Capital, JB Investment, Maple Investment Partners, IBK
BGT CompanyBeauty branding-Pre-Series ABokwang Investment
RNR LabManufacturing1.8 billionKclavis
Sionic AIAI5.5 billionSeedKorea Investment Partners, Hillspring Investment, Samsung Venture Investment, IMM Investment

#Major Funding

  • Autonomous service robotics startup BearBotics raised $60 million from LG Electronics, making it the largest shareholder in the company and launching its commercial robotics business.
  • Healthcare startup AlgoCare raised 15 billion won in investment. The company provides nutrition management service ‘Algocare at Work’ for companies, analyzing user health data and formulating customized nutritional supplements based on AI.
  • Esports platform Big Picture Interactive secured 13.3 billion won in investment. The company operates education company GameCoach and online and offline competition platform LVUP.GG. The investment will help the company consolidate its business infrastructure and accelerate its global expansion.

#Trend Analysis

Early Investors Favor Pet, Kids, and Senior Tech

Consumer tech B2C platforms were once the darling of investors, fueling the rise of Korean unicorn startups. However, the tide has turned towards B2B startups, with fewer platforms securing substantial funding. Despite the decline in platform popularity, early-stage investments are still being made in promising growth themes.

In particular, three sectors – pet tech, kids tech, and senior tech – have continued to see early-stage investments this year after a slow year for investment. Among them, pet tech solutions are attracting the most interest from investors.

The pet market has grown to more than 4 trillion won, surpassing the childcare market, and government support policies are supporting the growth of the market. As of the end of February, 5 startups in pet healthcare, pet insurance, and e-commerce have already announced early-stage investments.

The childcare and kidcare sector is also receiving early investments due to its growth potential despite a declining birth rate. While platforms that fill the childcare gap have received attention from investors, parenting information and community services, and e-commerce for kids’ clothing (resell) have recently received early investment news. Additionally, services targeting kids in various fields such as activities, content, education, and fintech are gaining traction globally.

In the age of aging, senior platforms focusing on life beyond senior care, such as travel, activities, and communities, are succeeding in early-stage investments. They are highly regarded for their growth potential as services that enrich the lives of seniors with social value to solve aging issues.

While the three investment themes mentioned are still dominated by early-stage investments, they are growing sectors with social change and are expected to continue to attract interest from investors looking to capture new market opportunities.

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