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[StartupRecipe] The Biggest month for VC funding and 3 New Korean unicorns born

#Weekly Funding Overview

[Aug. 9~ Aug. 13]

The total funds raised by Korean startups of this week is KRW 137.25 billion.

WillogLogistics solution-Series AIGIS Investment Partners, Shinhan Capital, Aju IB Investment
42DotMobility25 billionLotte Rental
Bank SaladFintech10 billionKia
GrampusGame2.5 billionCom2us, One store
MZ ContentsMedia/Content4 billionSeries AVinch Invest, G2G Partners, SB Partners, DS Asset Management
SeaWithCultured meat5.5 billionSeries AHG Initiative, Daesung Venture Capital, Daily Partners, SL Investment, Bluepoint Partners, Englight Ventures
SY SolutionCultured meat-SeedCNT Tech
VallaBeauty-SeedGoodwarter Capital, Info Bank
ComentoEducation3.6 billionHashed, 500Startups, D3 jubilee Partners
Motion2AIWarehouse Fleet Management14 billionSeries AMIR Ventures, Smilegate Investment, IMM, Intervest, Future Play, Shinhan Capital, Nest Company, Mirae Asset Capital, Amantany Partners
klleonMedia/Content2 billionSeries AKakao Investment
AkuodigitalDocument digitization20 billionSeries BCapstone Partners, HB Investment, SB Partners, Korea Investment Private Equity, Hana Financial Investment
Buysell StandardsFintech-SeedCNT Tech
MuntoSocial community2 billionPre-Series AIMM Investment, Daekyo Investment, Bon Angels Partners
NeuromekaRobotics14 billionSeries DDSC Investment, One Asset Investment, The wells Investment, Kolon Investment, ISU Venture Capital
21GramPettech4 billionSeries AKorea Investment Partners, SBS
BemyfriendsFan commerce2.5 billionSeedGS, Sparklab, Saehan Ventures Capital
HMC NetworksSilver care-Shinhan Investment
FirekimFire extinguisher-Enlight Ventures
SpeclipseAI Medical9 billionSignite Partners, BNH Investment, Shinhan Capital
Noute CompanyNote brand450 millionSeedSchmidt, D.Camp
Hash PurpleKPOP-SeedCNT Tech
WekeepFullfillment25 billionSeries BStonebridge Ventures, Industrial Bank of Korea, Korea Development Bank, Stic Ventures, CTK, Naver, KB Securities, TS Investment
TripbtozTravel3 billionGiantstep
NeoableMedical device700 millionGRANTTIPS
NewsystockRoboadvisor-M&ADGB Financial Group
Delivery HeroFood delivery800 billionM&AGS Retail, Affinity Equity Partners, Permira

Major Funding

  • Mobility startup 42 Dot raised 25 billion won in investment from Lotte Rental. 42 Dot is a tech company researching self-driving level 4 technology and plans to carry out future mobility platform business through cooperation with Lotte Rental.
  • Smart logistics company WeKeep raised 25 billion won in investment. The company provides fulfillment services for small and medium e-commerce companies, with integrated solutions such as fintech, IT solutions, and distribution to traditional 3PL logistics industries. With this investment, the company plans to expand its fulfillment center in Korea and enter global markets like China and the U.S.
  • Akuo Digital is a service that finalized 20 billion won in investment. The company turns multiple documents into electronic files using artificial intelligence. With this investment, the company will enter foreign markets such as Japan and plans to be listed on the Japanese Mothers in the future.
  • Robot manufacturer Neuromeca is finalized 14 billion won in investment. It plans to expand its business aggressively through this investment. The company is expected to grow with automation service platforms in various manufacturing processes based on cooperative, delta, and self-driving robots.
  • Delivery Hero, which operates the delivery app Yogiyo, has been acquired by private equity funds and GS Retail for 800 billion won. With a 100% stake in Delivery Hero, GS Retail acquired 300 billion won worth of shares, and private equity funds will execute the rest.

#Trend Analysis

[Monthly Funding] Record investments continue in the third quarter following the first half of the year. In July, the total amount of investments made recorded the highest amount ever, worth more than 2 trillion won thanks to investment raised by Yanolja. More than 1 trillion won in investment has been made for three consecutive months since May. The amount of investment has increased every month, with the total investment reaching 2.128.7 trillion won and 121 deals this July.

The company that attracted the most investment in July is Yanolja, a travel platform. Yanolja, which raised 2 trillion won (1.7 billion dollars) worth of investment from Softbank Vision Fund 2, has become a company that has gone beyond a unicorn and close to a deca-con, as its value has been recognized as 9 to 10 trillion won. Yanolja became the second Korean startup after Coupang that Softbank invested a large amount of money.

As investment continues to flock to growth-stage startups, 30 companies have attracted more than 10 billion won in investment. Startups that attract large investments of more than 10 billion won within a short time since its establishment are on the rise, and startups that attract significant investments before the seed stage or product launch are also emerging.

Venture capital firms affiliated with financial institutions were the most active investors in July following June. While KB Investment, Mirae Asset Venture Investment, Shinhan Venture Investment, and Shinhan Capital are actively investing, Naver D2SF, which focuses on finding early tech startups, also reported investment deals frequently.

Two startups have become unicorns. Market Kurly’s operator, Kurly, became a unicorn valued at 2.5 trillion won by raising an investment of 200 billion won. Virtual currency exchange UpBit’s operator Dunamu and real estate platform Jikbang also became a unicorn. Kurly announced plans to be listed on the local stock market simultaneously as becoming a unicorn. Contrary to the U.S. stock market prospect, the company plans to go public as early as next year.

Notable exits came from the pet sector. PetFriends, the No. 1 pet shopping mall, has been acquired by IMM PE and GS Retail simultaneously for 150 billion won. PetFriends is the Korean version of Chewy, and GS Retail has made three investments in the company before this acquisition.

Fifteen female startups succeeded in securing investment in July, the most significant number this year. With Kurly at the forefront, investments were made in various fields such as e-commerce, child care, fintech, and new media, especially in the cosmetics and beauty sectors.

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