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[StartupRecipe] 20 Baby Unicorns to Grow into Future Unicorns

#Weekly Funding Overview

[June. 6~ June. 10]

The total funds raised by Korean startups of this week is KRW 882.6 billion.

TeleVerseContact centure-SeedCNTTech
NinehiareHR Solution-GRANTTIPS
LoshkoreaSeniorclass-The Invention Lab
LemonboxHealthcare-The Invention Lab
CodeblossomSenior Care-SeedThe Invention Lab
SmithleatherAccessory2 billionHyundai Department
ContecSpace61 billionSeries CSpring Ventures, Stick Ventures, Partners Investment, Tony Investment, Yuanta Investment, Company K Partners, Daishin Securities, Korea Investment Partners, KDB Development Bank, Atinum Investment
CONLAB COMPANYContent commerce6 billionSeries AIBK Industrial Bank, Gaia Venture Partners, Crowdy
Kh TradersLuxury Watch Commerce-SeedCNTTech
LumanlabKids healthcare3 billionPre-Series AEnvisioning Parners, IMM Investment, Daol Investment, Korea Investment Partners
OpenplanInsuretech3 billionSeries ATS Investment, Future Play, Plug and Play
EndandSecondhand Platform-GRANTTIPS
Monee LabFintech-GRANTTIPS
Cardio HealthcareHealthcare1.2 billionSeedSmilegate Investment, Kyungdong Invest, Nanum Angels, Crescendo Equity Partners
AidnroboticsRobotics4.5 billionSeries ADSC Investment, BNK Venture Investment, Kolon Investment, Future Play
Geniworks9 billionSeries BLG U+, Korea Investment Partners, TS Investment
DelioBlockchain780 billionBlockfi, Three arrows capital
RentreRental Platform-SeedMashup Angels
SpaceTInterior-Pre-Series AThe Invention Lab, Traum Asset Management
bybBeuaty Commerce-Pre-Series AThe Invention Lab, Traum Asset Management
DiverDigital2 billionSJ Investment Partners
AntData solution2.8 billionPre-Series AStrong Ventures, Base Investment, Samyang Chemical Group, Smilegate Investment
QMITPlayer management3 billionSeries ABogwang Investment, Schmidt, NBH Capital, Big BaysIn Capital
Jongdal labFashion100 millionSeedKingoSpring
Liting LabsMedical tech5 billionOneunivers

Major Funding

  • Contec, a space startup has raised KRW 61 billion in a series C funding round. Contec is a spin-off company from KARI (Korea Aerospace Research Institute) and is offering Space Ground Station Services and Satellite Image Processing & Application Services as well as a whole ground integration solution. The company is set to go public next year.
  • Ad tech startup Genieworks has secured KRW 9 billion of Series B investment. With this investment Genieworks plans to upgrade its commerce network platform called ‘Salad’ that connects platform operators and product seller.

#Trend Analysis

The government selected 60 baby unicorns with the potential to grow into preliminary unicorns worth more than KRW 100 billion. There were 284 companies that applied for this Baby Unicorn 200 project, with a 4.7:1 competition ratio. The selected baby unicorns will receive up to KRW 300 million in business funds, up to KRW 5 billion in special guarantees, and up to KRW 10 billion in policy funds from Korea SMEs and Startups Agency.

*This article introduces 10 startups out of 20 companies first

  • Nature Mobility=It operates Zzimcar, a rental car pricing comparison platform based on Jeju Island. In collaboration with major portal sites, it offers integrated services such as airline tickets and cabs. 
  • Todoc=It develops a cochlear implant, a medical device for the hearing impaired. It lowered the price by allowing mass manufacture of handcrafted products, helping low-income deaf people in underdeveloped countries.
  • Mono labs=It’s a subscription service for health supplements powered by artificial intelligence. It analyzes and diagnoses individual health issues and lifestyle patterns to recommend customized nutritional supplements.
  • SodaCrew=It operates SodaGift, a service that allows Koreans living abroad to send gifts of various brands to their acquaintances in Korea.
  • Freewheelin=It runs Mathflat, a math problem bank solution that provides personalized math problems based on each student’s different skills and learning styles. It is a tablet-based learning platform that allows students to solve problems and grade them by themselves.
  • AlgoCare=It developed an IoT nutrition management dispensing device called Nutrition Engine. It assists users in taking the nutritional supplements they require based on their health conditions. If you connect the app to your device, it creates your nutrition package.
  • ONDA=It is a company that uses hospitality IT technology to assist in the digital transformation of the hotel and lodging industry. It is an all-in-one solution that provides necessary functions such as sales, operation, and sales management for hotels, pensions, and resorts to manage their rooms.
  • Wayne Hills Bryant=It developed an algorithm to automatically convert text and voice data into videos with AI technology. 
  • Medihere=Doctor Hero, Medihere’s telemedicine platform, offers non-face-to-face treatment and prescription issuance services. It is currently in service in 193 countries, targeting the global market instead of the heavily regulated Korean market.
  • Gooroomee=It provides a variety of real-time video services used in daily life, such as video conferencing and cam study. Recently, it has launched a non-face-to-face video counseling solution for business innovation in the financial sector.

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