[StartupRecipe] The Top Funded P2E Startups in Q1

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#Weekly Funding Overview

[May 9~ May. 13]

The total funds raised by Korean startups of this week is KRW 395.85 billion.

Company	Inudustry	Amount	Round	Investors
Bucketplace	Interior Platform	230 billion		KDB Development Bank, IMM Investment, Softbank Ventures, Vertex Growth, Bond, BRV Capital Management, Smilegate Investment, Mirae Asset Capital, KB Digital Platform Fund
The milk	Media	4.8 billion	Series A	Webcash I&C, Hunet Ventures, Kim Kisa Lab, Companoid Labs, Atone, MYSC, Maeum Capital Group
D-unit	Fashion brand	-	M&A	Brandy
Thyroscope	Digital Healthcare	-	GRANT	TIPS
Cheongmyeong advanced materials	Electronic car	-	GRANT	TIPS
NEI&COMPANY	MaaS Platform	-	GRANT	TIPS
NetStream	Metaverse	-	GRANT	TIPS
Gooddoc	Mobile healthcare	21 billion	Series A	Samsung Venture Investment, Magellan Technology Investment, KB Investment, IBK Industrial Bank of Korea, DT&Investment, Bogwang Investment, E& Venture Partners, TInvestment, CareLabs
Roadwin Human	Logistics	17.5 billion	Series C	A Ventures, Widwin Investment, Pentastone Investment, NH Hedge Asset Management, Coolidge Corner Investment, Shinyoung Securities
Pampam	Secondhand Platform	-	Series A	IPS Ventures, Open Water Investment
InstaCoin	Blockchain	-		LCHAYIM
Doorkitchen	Quick commerce	-	Seed	CNTTech
Bemyfriends	Fandom platform	22.4 billion		CJ, CJ Olive Networks
21st electric shop	Equipment Refurbish	-	Pre-Series A	500Global, Kakao Ventures
KILO	Diet app	-	GRANT	TIPS
Vaxdigm	Bio/Healthcare	-	Seed	New Paradigm Investment
ROOT M&C	Metaverse	-	M&A	VA Corporation
Dalroll company	Bakery	2 billion	Series A	East gate Partners, Hyundai Technology Investment
Innogrid	Cloud computing	5.1 billion		Korea Investment & Securities, Open Water Investment, Wooshin Venture Investment, Life Asset Management
IAMDT	Pettech	7.5 billion	Series A	GS Retail, IMM PE, Hanwha Non-life Insurance
Aiji Net	Insuretech	10.2 billion	Series C	Intervest, SBI Investment, How Investment, Hana Financial Investment, Woori Bank
Seadronix	Marine startup	7 billion	Series A	Softbank Ventures, Lighthouse Combine Investment, TInvestment, SKT-Infiniteum Fund
Mondayoff	Game	6.5 billion	Series A	Atinum Investment, Korea Investment Partners
BUKIO	ebook	-	M&A	MAXST
Turnbag	Secondhand Platform	-	Seed	Yoonmin Foundation
Foodnote service	SaaS	3.25 billion	Series A	Kolon Investment, A Ventures, Shinhan Capital, Findus
SO+	ERP solution	-	M&A	Delicius
ModuAccounting	Tax	1.2 billion	Pre-Series A	Evergreen Investment Partners, TIPS
UnaStella	Space startup	-	GRANT	TIPS
East security	Security	15 billion	Pre-IPO	UAMCO IBK Financial Group PEF, HBInvestment, NH Hedge Asset Management
EVR Studio	Metaverse	17 billion		Cheil
Robo Arete	Robotics	7.5 billion	Series A	Korea Investment Partners, GS Retail, IBK Industrial Bank of Korea, Smart Study Ventures, Mega Investment, Credit Guarantee Fund
Switchwon	Fintech	-	GRANT	TIPS
SoftlyAI	AI	-	Seed	Schmidt, Stone Bridge Ventures, Smilegate Investment
Laplace Technologies	Data Analysis	-	GRANT	TIPS
Payandstore	QR/NFC Infra	-	Pre-Series A	Main Street Investment, Scale-Up Ventures
11corporation	Cosmetic D2C	-		Kolon Investment, Technology Guarantee Fund
Uproot company	Blockchain	-		Hexagon Investment Consulting
Tripolygon	3D Modelling	6.5 billion	Series A	KB Investment, We Ventures, Naver Jets
Deliverylab	Food	5 billion	Series A	Barogo, Future Technology Holdings, Yonsei University Technology Holdings, Credit Guarantee Fund
Kreaon	Digital marketing	-	Seed	Pacemakers
Entcrowd	Entertainment	-		Content Technologies, BA Partners
AMBERIN	Entertainment	-		VA Corporation
GYnetworks	AI	-	M&A	OGQ
Livelively	Senior care	-	Seed	Dcamp, Findus
Atny	Luxury Platform	-		CJ ENM
Vlast	VFX	-	Seed	MBC, IPX

Major Funding

• OHouse operator Bucket Place has received an investment of KRW 230 billion, with its corporate value estimated at KRW 2 trillion. It has a furniture delivery system with its own logistics warehouse and plans to enter overseas markets with this funding.
• Mobile healthcare service GoodDoc has raised KRW 21 billion in investment. The company will promote a one-stop healthcare app that enables everything related to medical care, including finding a hospital, online and offline medical appointments, non-face-to-face treatment, payment, and drug delivery..
• Logistics platform Roadwin Human has secured KRW 17.5 billion. It will expand its delivery vehicle operations and attract new B2B customers in the vehicle management market based on consignment services. The company plans to go public in 2024.

#Trend Analysis

P2E (Play to Earn) startups using NFT technology are gaining popularity. P2E, also called a money-making game, is a game in which you can earn virtual assets or NFTs as a reward that you can cash out. As NFT has emerged as a trend since last year, large domestic and foreign game companies are directly entering this field or investing in related startups. Accordingly, the value of P2E startups is rising significantly.

The Korean blockchain industry has experienced steady growth in investment since last year, with more than KRW 150 billion being invested by April of this year. Startups that promote NFT-based P2E games made up the majority of them. Here we list major Korean P2E startups that received funding this year.

Iskra recently secured the largest funds, raising KRW 42 billion in seed investment. Iskra is making a community-oriented game platform Launchpad. Launchpad publishes various genres of P2E games and rewards community members according to their contributions. The service will be released within this year.

Nine Corporation, which quickly became popular at home and abroad as a P2E game company, is developing the P2E game Nine Chronicle. It developed the decentralized blockchain game engine Libplanet and got investments from global investors such as Binance Labs and Animoca Brands, as well as domestic VCs like Naver D2SF. It is thought to be capable of overcoming the technological difficulties of decentralized games.

The blockchain game platform Monoverse raised KRW 4 billion in investment. The company will release the P2E game Frutti Dino in the second quarter. It is a game in which you collect fruit-like dinosaur characters and it has already sold NFT on Binance before its release.

Syltare, developed by LikeLion, received a series A investment. Syltare is a Klaytn-based P2E card game where users compete with five cards. It sold NFT in December of last year, and 9,500 copies (worth KRW 10 billion) sold out in one second.

In addition, Uniquegood Company, a developer of a metaverse content platform RealWorld, raised Series A2 funding and announced its plan to expand globally. Pixel Play also received the seed funding to release the Pixel Battle P2E game.

P2E games are considered revolutionary since they allow both game companies and consumers to benefit from the game’s growth. While they are causing a worldwide sensation, it is impossible to launch P2E games in Korea. Large game companies who are preparing to release P2E games are also raising their voices for deregulation.