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[StartupRecipe] Self-driving Startups Have Raked in Funds

#Weekly Funding Overview

[Aug. 22~ Aug. 26]

The total funds raised by Korean startups of this week is KRW 379.5 billion.

CellicoHealthcare-Pre-Series AYuanta Investment
WholesumbrandsBrand aggregator20 billionVenture debtWithus Partners
Viva Republica250 billionSeries GGood Water Capital, Harvest growth Capital, Pebbles
NyaongsPettech1 billionNew Paradigm Investment, Wishcompany, Angel investors
TesolloRobot Solution-SeedThe Invention Lab, Woomi, Kukbo Design
Robo frien-SeedThe Invention Lab, Woomi, Kukbo Design
Robo frienUWB Solution-SeedThe Invention Lab, Woomi, Kukbo Design
RightroueEco friendly-SeedThe Invention Lab, Woomi, Kukbo Design
PayworkPayment management-SeedThe Invention Lab, Woomi, Kukbo Design
SCON3D Virtual-SeedThe Invention Lab, Woomi, Kukbo Design
KreaonTravel content-SeedKorea Venture Investment
SoundplatformSound solution-Pre-Series AKingsley Ventures, Lotte Ventures
Plume.dAI Motion-SeedFuture Play
TridgeAgriculture Data50 billionSeries DDS Asset Management
TogetherartArt tech-Pre-Series ATony Investment, Republic, V1 Private Equity
SpiderlabBook sharing1 billionSmartstudy Ventures
Bos semiconductorsMobility semiconductor-Hyndai Motors Zeroone
GrowthfitMarketing Solution-GRANTTIPS
Studio GalileiSmart mobility-Pre-Series AMYSC, The wealth Investment, Hankooktire, Cnttech
GigavisFabless40 billionPre-IPOPebbles Asset Management, Time Folio Asset Management, Stick Ventures
BlueSignumMental healthcare-GRANTTIPS
SpoitSport video-SeedIncheon CCEI
Blank CorporationMedia commerce2 billionKream
ThreeducksEntertainment-M&AMy Music taste
SugopeopleRecycling-KC Green holdings
Cultureart4uart content1 billionPre-Series ACryptonm KST-Shinhan Capital
LineupSports game-SeedFast Ventures
WefloMobility-SeedKakao Ventures, Lotte Ventures, Bass Investment
Kiwi studioKids Content300 millionbridgeSopoong Ventures, Huno, Glorang
Webtoon todayWebtoon production2.1 billionPre-Series ACapstone Partners, Laguna Investment, Crit Ventures, DCAMP, Bass Investment
Seoul RoboticsMobility5 billionFuture Play, Samsung Securities
Select StarAI9 billionSeries A2Kakao Ventures, Company K Partners, CJ Investment, Nau IB

Major Funding

  • Agricultural data startup Tridge has raised KRW 50 billion in investment. It was valued at KRW 3.6 trillion, which made it the first unicorn in the industry. It promotes global businesses as a trading platform for agricultural products. It plans to upgrade its product and establish overseas branches.
  • Brand aggregator Wholesum Brands has obtained a KRW 20 billion loan. The company will acquire more brands and expand its consulting business with the funds.
  • The AI learning data platform Select Star has completed its series A funding round after receiving an additional KRW 9 billion investment. It collects and processes learning data for AI through crowdsourcing. It will promote global brand expansion with its local corporation in the U.S.

#Trend Analysis

Self-driving Startups Have Raked in Funds

As the mobility industry diversifies into other services, the number of related startups is growing, and investors are paying attention to the mobility market. In particular, most funds are flowing into startups with self-driving technology. Last month, Hyundai Motor spent KRW 427.6 billion to acquire 42dot, a self-driving startup that the group had invested in several times.

According to data from Startup Recipe, as of August, 18 autonomous driving startups have received KRW 409.8 billion in funding. It has already surpassed last year’s total investment in the vehicle/mobility sector, including self-driving startup companies, which was KRW 287.6 billion, in just eight months. Even in the shrinking investment market, several companies have raked in more than KRW 10 billion in the Series A stage due to the high growth potential in the autonomous driving sector. Self-driving companies are recognized for their technological prowess both at home and abroad, drawing investment from global VCs. They also have their headquarters or branches abroad and make global partnerships to target overseas markets.

StradVision has raised KRW 107.6 billion and secured the most funds this year. Its competitiveness has been recognized as major global mobility companies made strategic investments. Investors are also betting their money on autonomous robot startups that specialize in last-mile delivery. Bear Robotics, which develops self-driving serving robots, has raised KRW 100 billion, the largest amount ever invested in serving robots. Both Stradvision and Bear Robotics are headquartered in the U.S. and are now focusing on their overseas expansion.

Various companies succeeded in securing investment in the first half of the year, including startups with simulation and LiDAR technology as well as autonomous driving technologies for vessels and drones. Investors will continue to pay attention to autonomous driving technology since it is a crucial axis defining the era of future automobiles and is also being promoted at the national level.

StradVisionKRW 107.6 BillionSeries CAptiv, ZF, LSS PE, Kclavis, TimePolio Investment, nvester
Bear RoboticsKRW 100 BillionSeries BIMM Private Equity, Cleveland Avenue, KT, Smilegate Investment, DSC InvestmentIMM Private Equity, Cleveland Avenue, KT, Smilegate Investment, DSC Investment
AutocryptKRW 32.5 BillionSeries BKorea Asset Investment & Securities, Ermus Investment, BSK Investment, Shinhan Venture Investment, JB Asset Management, Stick Ventures, Pathfinder H, Hyundai Technology Investment
MORAIKRW 25 BillionSeries BNaverD2SF, Hyundai Group zeroone, Kakao Ventures, Atinum Investment, Korea Investment Partners, KB Investment, Korea Develpoment Bank
NeubilityKRW 23 BillionSeries AIMM Investment, Shinsegae Signite Partners, Lotte Ventures, Samsung Wellstory, DS & Partners, KB Investment, Portitodot, SKT-Infinite Fund, Capstone Partners, Future Play, Shinhan Capital
ThorDriveKRW 20 BillionSeries AKIWOOM SECURITIES, Emford Equity Partners, POSCO CAPITAL
Spring CloudKRW 18 BillionSeries AInfoBank Corp, Mando, Korea Develpoment Bank, Woodreambio, Korea Credit Guarantee Fund
Mars AutoKRW 15 BillionSeries AGFT Ventures, Mirae Asset Venture Investment, Central
Vueron TechnologyKRW 10 BillionPre-Series ADaesung Venture Capital, HGI, Korea Development Bank, Timefolio Asset Management, InterValue Partners
ClobotKRW 9.5 BillionSeries BPremier Partners, Shinhan Venture Investment, L&S Venture Capital, Hyundai Group zeroone, Honest Ventures
Seoul RoboticsKRW 5 BillionFuture Play, Samsung Securities

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