[StartupRecipe] Autonomous Driving Tech Leads Mobility Sector funding in Korea

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#Weekly Funding Overview

[Nov. 11~ Nov. 15]

Company	Inudustry	Amount	Round	Investors
SR	Battery recycling	-	Grant	TIPS
EBS Square	Secondary battery	-	Grant	TIPS
NEXPOTSOLUTION	Security solution	-	Grant	TIPS
CE-TEK	Carbon Capture	-	Grant	Deeptech TIPS
Twon	Manufacturing	-	Grant	Deeptech TIPS
Spex	Space	-	Grant	Deeptech TIPS
MetaBeans	Air clean solution	-	Grant	TIPS
GeoVista	Pet healthcare	-	Grant	TIPS
Quazar	Luxury Authentication	-	Grant	TIPS
GROOVY X	Content Commerce	-	Grant	TIPS
ANPOLY	Eco friendly materials	-	Grant	Scaleup TIPS
Stellar Music	Music rights licencing	-	Grant	TIPS
Team Robotics	Robotics	-	Grant	TIPS
WideUse	Smart Total Logistics Management Solution	-	Seed	CNT Tech
POSCORE	magnetic powder	900 million	Seed	Capstone Partners, dcamp, Gyeongbuk CCEI
The Yoonseul	Global One Stop Platform	-	Seed	Y and Archer
iChemist	AI 3D Digital Twin	-	Seed	Scale-Up Partners, JCHN Investments, CNT Tech
COUNTDN AI	Video Image App	-	Seed	New Paradigm Investment
AIgement	AI Solution	-	Seed	The Ventures
Sweetnswitz	Gluten Free F&B Brand	-	Seed	Y and Archer
Amously	semiconductor	-	Seed	Future Play, The Ventures
Minerva edu	Edutech	-	Seed	Series Ventures
Biobytes	Healthcare	600 million	Seed	Kingsley Ventures, Sopoong Ventures, CNT Tech, Gangwon CCEI
Kompass Diagnostics	Healthcare	2.2 billion	Seed	Bass Ventures, Kakao Ventures, Digital Healthcare Partners
BeyondR	Industrial XR Solutions	-	Seed	Blue Point Partners
Alliaud Biopharma	Healthcare	-		Huons Group
Splab	Business networking service	-	Seed Bridge	Postech holdings
MDsquare	Healthcare	-		Blue Mtech
Viver	Luxury watch platform	15 billion		dunamoo
Novelty Nobility	Bio	23.3 billion	Series C	Shinhan Venture Investment, Samho Green Investment, SL Investment, KB-Solidus Healthcare Investment Association, Brave Investment, KDB Capital
Plantner	Eco friendly Fertilizers	-	Pre-Seed	500 Global, Blue Point Partners
Glorang	AI talent tech	-		DG Daiwa Ventures
ROOMER	online shop management saas	-	Pre-Seed	Lotte Ventures
Monolith	Theme park	7.5 billion		DAESUNG
Nanum Vitamin	Food donation	-	Pre-Series A	Gaia Venture Partners
DYENG	Secondary battery	1.7 billion		EcoPro Partners, KH Venture Partners
TopoLab	Bio	500 million	Pre-Series A	Next Dream Angel Club, Agricultural Policy Insurance Finance Agency

#Major Funding

• Luxury watch trading platform Viver raised KRW 15 billion to scale its operations. The company has tripled its growth year-over-year and surpassed KRW 100 billion in cumulative transactions. The funding will support global expansion, offline retail ventures, and network growth.
• Monolith, the operator of Jeju’s 9.81 Park, secured KRW 7.5 billion to build a second hybrid sports-and-gaming theme park near Incheon International Airport, enhancing its innovative entertainment offerings.
• Kompass Diagnostics raised KRW 2.2 billion to advance IDA, a portable blood-testing device. Its first product will enable hormone self-testing for infertility, pushing the boundaries of accessible healthcare.

#Trend Analysis

Autonomous Driving Tech Leads Mobility Sector funding in Korea

In a significant show of investor confidence, the mobility tech sector continues to attract substantial funding, with autonomous driving technology leading the charge. Waymo, Google’s self-driving unit, recently secured a massive $5.6 billion investment, while other global autonomous vehicle players like Wayve and Wabbi have also announced notable funding rounds.

South Korea’s mobility tech ecosystem is mirroring global trends, with the autonomous driving sector being particularly vibrant. As of October 2024, autonomous driving technologies claimed the largest share (37%) of the total KRW 302.8 billion invested in the vehicle/mobility sector. In a notable success story, LiDAR technology provider SOS Lab achieved its KOSDAQ listing in June.

Several key trends are emerging in the mobility investment landscape:

• Electric Vehicle Infrastructure: Following last year’s major investments in EV batteries and charging infrastructure, investors continue to bet big on charging network expansion
• Digital Auto Retail: Online vehicle sales platforms and car management services are attracting significant capital, riding the e-commerce wave
• Software-Defined Vehicles (SDV): As cars become more software-centric, mobility business solutions are seeing increased investment activity

However, not all segments are thriving. The micro-mobility sector, including shared vehicles, e-scooters, and electric bicycles, has seen a sharp decline in investor interest. Stricter regulations on e-scooters have forced industry consolidation, with smaller players seeking mergers to survive as the market increasingly favors large platform operators.

A new frontier is emerging in aviation and maritime mobility, driven by sustainability concerns. While South Korea has relatively fewer companies in these sectors, early-stage investments are growing in drone technology, autonomous ships, and future aviation, particularly where green technology and autonomous systems converge.

Despite the absence of billion-won mega-deals this year, the mobility startup ecosystem has maintained stability, nearly matching last year’s total investment of KRW429.9 billion with two months still remaining in 2024. While some analysts express concerns about autonomous driving investments due to safety issues and economic factors, recent large-scale funding rounds suggest strong long-term growth potential. The mobility tech sector’s resilience, particularly in autonomous driving and electric vehicle technologies, indicates that investors remain confident in its long-term prospects, even as the market undergoes significant transformation and consolidation in certain segments.