[StartupRecipe] The 6 startups that could be the next unicorns

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#Weekly Funding Overview

[May 2 ~ May. 6]

The total funds raised by Korean startups of this week is KRW 142.8 billion.

Company	Industry	Amount	Round	Investors
Monoverse	Blockchain	4 billion	Pre-Series A	Korea Land Trust
Medility	Healthcare	-	Pre-Series A	Kakao Ventures, BA Partners
Mark&Company	Startup platform	-	Series A	Naver D2SF, ZVC, Dunamu, Nice Evaluation Information
ViewMagine	Prophtech	-		Hyundai Motor Group, Aegis Investment Partners, Plan H Ventures, IBK
Medibuilder	Medical Aggregator	2 billion	Pre-Series A
Remonhealthcare	healthcare	17 billion	Series C	Hanwha Asset Management
Uniquegood Company	Game	-	Series A2	Hyundai Motor Group Zero One
angrydogs	Entertainment	-		Sandbox Network
Nara Space Technology	Space	10 billion	Series A	KDB Development Bank, Hana Ventures, Kolon Glotech, BNK Venture Investment, POSCO Technology Investment, High Investment Partners
Bakcha Company	Mobility	2.5 billion	Series A	Blitz Ventures, Halla Holdings
Reconlabs	AI 3Dmodelling	5.5 billion	Series A	Kakao Ventures, Shinhan Capital, Lotte Ventures, Naver D2SF, Korea Investment Partners, Hanwha Techwin, Kakao Brain
11L	Pettech	-	Seed	The Ventures
Tublet	Education	1 billion	Seed	Weverse Mind, Fast Ventures
Sendy	Logistics	-	Series A bridge	Aegis-Hyundai Securities Proptech SVIC
Sellernote	Logistics	6.3 billion	Series A	KB Investment, SL Investment, Be High Investment, Bigbasin Capital, BonAngels Venture Partners, We Ventures, TInvestment
Moving	Mobility	-		Barogo
Zinnbike	Mobility	-		Barogo
fitpet	Pettech	20 billion		BRV Capital Management
Innkey Infosystems	Hotel solution	-		Yanolja Cloud
10wonders	Content commerce	-	Pre-Series A	Seyoung Company
People Ventures	Fortunetelling	2 billion	Series A	DSC Investment
Looko	Fashion	3 billion	Series A	KT Investment, Laguna Investment
Negocio	Prophtech	100 million		NICE information service
Wave Lifestyletech		5 billion	Pre-Series A	Korea Venture Investment, Aju IB Investment, Signite Partners, Lighthouse Combine Invest, DK Investment Partners
Cobalt	Communication platform	-	GRANT	TIPS
The Valla	MakeupO2O	-	GRANT	TIPS
Atostudy	Library brand	9 billion	Series A	Mega Study, Hana Ventures, Woomi Global
P2P Systems	Library brand	-	M&A	Atostudy
Haegin	Game	50 billion		SK Telecom, SK Square
Ineeji	AI	5.5 billion	Pre-IPO	Spring Camp, Capstone Partners, We Ventures, GS EPS, Industrial Bank of Korea, Dodam Ventures

Major Funding

• Game company Haegin has attracted KRW 50 billion in strategic funding from SK ICT Family. In the era of Web 3, the two companies are expected to cooperate in AI  and metaverse fields to strengthen game contents.
• Pet healthcare app Fitpet has secured an investment of KRW 20billion. With the new funding, Fitpet plans to accelerate the establishment of a pet insurance company based on the establishment of a more efficient and reliable veterinary hospital ecosystem and a large number of pet health databases (DB). 
• Space startup Nara Space Technology has raised KRW 10 billion in funding. The company builds nano satellite constellations and creates various added values by using satellite data. They are developing OBSERVER-1, 16U satellite with 7 bands (1.5 m GSD) for earth observation as well as providing satellite image analysis services for defense, city management, and ESG.

#Trend Analysis

The 6 startups that could be the next unicorns

Six Korean startups with high growth potential were selected as the seventh innovative icon by Korea Credit Guarantee Fund. Innovative Icon is a global scale-up program that provides financial and non financial support to startups that will become next unicorns.

194 companies applied for the program and recorded a competition ratio of 32 to 1. The selected startups will have up to KRW15 billion in guarantees over three years. In addition, they also receives benefits from non-financial services such as overseas expansion and market development.

<6 selected Startups>

Makestar=Makestar operates a crowdfunding platform that produces and distributes K-pop content. The platform allows fans all over the world to take part in the production of K-pop content to give them fun and some benefits as well.

MORAI=MORAI is the first Korean company to have independently developed a full-stack self-driving simulation solution which includes the core simulation engine. Founded in 2018, MORAI currently supplies industry, research organizations, and universities with autonomous driving simulation solutions, and is looking to form partnerships with companies from around the world.

Buzzvil=Buzzvil is a global leader of rewarded ads platform that has more than 150 publishers, including South Korea’s three major mobile carriers and membership operators, such as OK Cashbag, L.Point, CJ ONE. Buzzvil provides industry-optimized reward advertising with more than 390 million user data, helping to generater hight retention rates and revenue.

Flex=Flex is a human resources management platform that addresses a wide range of difficulties in enterprises involving people and organizations. It is an HR SaaS that provides the necessary functions for overall corporate personnel management, winning over 30,000 customers within two years of launch. Flex recently raised $32 million Series B round at a valuation of $287 million. The funding was led by Greenoaks, with participation from DST Global Partners.

Atommerce=Atommerce operates a mental health care service Mind Cafe which offers a virtual therapy program and a mental health benefits solution for employers.  It is Korea’s largest mental health care company with 1 million members. The company recently raised 16.7 million Serise B and plans to expand non-face-to-face treatment for mental illness and advance overseas.

Kaflix=KAFLIX operates Korea’s first car-sharing economy service called JEJU PASS and MOSAICAR, a car subscription service patented as Korean first based on the rent-a-car-specialized algorithm. Recently Yanolja, Korea’s leading travel and leisure platform, invested in Kaflix and become the second shareholder. They plan to strengthen mobility services in the Yanolja platform and adopt car-sharing services utilizing data-based algorithms for the global market.