#Weekly Funding Overview[Mar.21 ~ Mar.25]
The total funds raised by Korean startups of this week is KRW 210.6 billion.
|Wehuddling||Foodtech||9 billion||Series A||Nau IB Capital, Nonghyup Bank, SJ Investment Partners, UTC Investment, Kyobo|
|Storelink||Marketing Solution||9 billion||Series B||Partners Investment, Hana Ventures, SK Securities, SJ Investment Partners|
|Twelvelabs||AI Video Search||6 billion||Seed||Index Ventures, Expa, Radical Ventures|
|i Divine||AI bigdata||-||Seed||Future Play|
|Myfair||Conference booking||-||Seed||New Paradigm Investment|
|Jobis & Villains||Tax||30 billion||Series B Bridge||HB Investment, Atinum Investment, Capstone Partners, Korea Omega Investment, DSC Investment, Premier Partners|
|Onepredict||B2B AI||30 billion||Series C||Stonebridge Ventures, Atinum Investment,KTB Network,Korea Develpoment Bank, Shinhan Bank, SK Securities, LB Investment, LG Energy solution, GS Power|
|Kinolights||OTT search platform||2.5 billion||Pre-Series A||Union Investment Partners, LG UPLULS, Kakao Ventures, Shinhan Capital|
|Payhere||Fintech||2 billion||Series A||Mirae Asset Capital|
|DAL Company||Healthcare||-||Seed||Smilegate Investment|
|onesglobal||Digital Healthcare||-||Seed||Korea Venture Investment|
|Saengong||Commodity Brand||12 billion||Series A||IMM Investment, A Ventures, CJ ENM|
|IDKLAB||Manufacture||3.5 billion||Series A||Posco Capital, Hanyang-eng|
|Poinblack||Education||2 billion||Pre-Series A||Philian Venture Investment, Honest Ventures, Root Ventures|
|Carchap||Mobility||1.5 billion||Pre-Series A||Futureplay, Laguna Investment, Time Works Investment|
|FiNovus Lab||B2B PNPL||-||GRANT||TIPS|
|You need character||Animation||-||MYSC|
|Blockodyssey||Blockchain||-||Series A||SKnetworks, Hahsed, SB Partners, KT&G, Timewise Investment, KB, Hana Ventures|
|Dongnae||Fintech||25 billion||Series A||NFX, Daol Investment, Hana Financial, Hana Bank, Eugenebank, Metaproph, iloom, Han River Partners, Flybridge, Maple VC|
|Music cow||Fintech||6 billion||Hanwha Systems|
|Artificial Society||Education||-||Naver D2SF, Kakao Ventures, Markncompany, Yoonmin Foundation|
|Social Investing Lab||Fintech||-||Pre-Series A||SK Securities, Industrial bank of Korea|
|EMOCOG||Digital therapeutics||15 billion||Pre-Series A||Kakao Ventures, Stonebridge Ventures, GC Pharma, SV Investment|
|Brich||Ecommerce||6 billion||Series B||BDC LABS, T Investment, Wooribank, DK Investment Partners|
|Craving Collector||Fashion||5.5 billion||Pre-Series A||Kream|
|blabla ENM||Meta Voice||3 billion||Series A||ZER01NE, KTB Network, KYOBO Securities|
|Gori AI||Last mile solution||3 billion||Seed||4PX Experss|
|PSX||Fintech||1.5 billion||Series A||Posco Capital|
|Switchwon||Fintech||1.1 billion||Seed||Busan Technology Holdings, Risings ventures, Posco Capital|
|Fnbpeople||Foodtech||1 billion||Hyundai Marine & Fire Insurance, HYUNDAI VENTURE INVESTMENT|
|Beautymakers||Beauty||-||Seed||The Invention lab|
|NUTRABBIT||Food||-||Seed||The Invention lab|
|Wiselection||Bio/Healthcare||-||Seed||The Invention lab|
- OneFredict has attracted 30 billion won in investment. Its solution GuardiOne diagnoses the condition of key facilities based on industrial AI algorithms and predicts failures in advance.
- Digital healthcare startup Emocog has raised 15 billion won. It develops and supplies Cogthera, the digital treatment for patients with mild cognitive impairment at the pre-dementia stage.
- Dongnae, a finTech startup for residential real estate, has received a 25 billion won investment. It runs Dongnae FLEX, which provides premium apartments with lower deposits and an average discount of over 98 percent.
HR SaaS Market is Growing
Due to the COVID-19 pandemic, global investment is focused on HR Tech companies. Demand for HR solutions is growing as many companies have introduced HR tech solutions to effectively reduce the time and cost required for personnel management, and job seekers can conveniently apply for employment. In particular, HR SaaS startups that enable quick recruitment and efficient management of talent are gaining popularity in the IT market, where fierce competition for hiring talent takes place.
In Korea, investment in HR tech startups is on the rise: HR SaaS startups that provide attendance management, payroll settlement, and personnel management. Flex is one of the leading companies in the field. It has secured 38 billion won worth of Series B investment from Greenoaks Capital and DST Global, raising the most investment in the HR tech industry last year. Lemonbase is a platform focused on personnel evaluation. It has systematized personnel evaluation which was formerly done on a whim. Within a year and a half after its launch, it has secured more than 1,000 customers, including Lotte Food and Kakao.
Shiftee, a workforce management software, was acquired by SaaS company BusinessOn Communication last year for 28 billion won. Shiftee has grown rapidly by securing 150,000 clients, from large companies to startups, and succeeded in selling the business four years after its establishment.
Early-stage startups are also attracting investors’ attention. Doodlin is a recruitment management solution that makes it simple to handle tiresome tasks like managing applicant data and adjusting interview schedules. It is used by more than 1,300 startups and large corporations. Last year, it received investment from Altos Ventures, which invested in Korean unicorns such as Coupang and Toss.
With the growth of the HR market, more and more companies are expanding their services to HR recruitment fields based on their existing services. A business card management app Remember is growing into a recruitment platform based on its community and talent searching service with vast numbers of users as weapons. Remember is an affiliate of Naver. Last year, it received 160 billion won in investment from SaraminHR and others, and it is now aiming to preoccupy the HR market
Jobplanet, Korea’s answer to Glassdoor, recently opened a private recruitment center. Based on its corporate DB, the company plans to provide an integrated service that allows users to see the interview reviews, company reviews, salary, welfare information, and employment application at once. TeamBlind, an anonymous community app, also operates a service for hiring experienced workers.
For the time being, HR tech businesses are projected to remain attractive among venture capital firms. The HR tech market is expanding rapidly due to the prolonged pandemic. As more companies feel the need for efficient talent management, the related market and investment are expected to grow as well.