[StartupRecipe] Rise in Startups Catering to Active Seniors

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#Weekly Funding Overview

[May. 15 ~ May. 19 ]

The total funds raised by Korean startups of this week is KRW 122.1 billion.

Company	Inudustry	Amount	Round	Investors
Bredis Healthcare	Healthcare	-	Seed	Kaistventures, Checkmate Capital
cellmeat	Cultured meat	17.4 billion	Series A	BNK Venture Investment, Yugyung PSG Asset Management, Strong Ventures
Securenet		-	Seed	Info Bank
Rich Alien	Game	11.5 billion	Seed	Stonebridge Ventures, SV Investment, Bass Investment, 111%,
Livelively	Senior healthcare	-	Grant	TIPS
Viva la vida	Senior community	-	Grant	TIPS
Leesol	Digital Therapeutics	-	Pre-Series A	New Paradigm Investment
MetaCamp	Metaverse platform	-	Grant	TIPS
Trustay	Proptech	3 billion		Hana Financial Group
Puzzles Ventures	Mobility	3.5 billion	Series A	Forest Partners
Deepsales	Sales intelligence	-	Grant	TIPS
Growplus	Digital AD	-	M&A	Carenation
Onit Korea	Freight transport	-	Grant	TIPS
Wokershigh	Proptech	-	Grant	TIPS
Youniv	Education	-	M&A	Megastudy `
Alon	EV charging	-	Seed	The Ventures
Dtonic	Bigdata	13.4 billion	Pre-Series A
Callgate	ARS	10 billion		The Wells-Kiwoom Growth Capital Investment Fund
Smaxh	Tennis platform	-	Grant	TIPS
VWX	Artist casting platform	-	Seed	1billion partners
Signiturelable	K-Beuaty	-	Pre-Series A	D.CAMP, Angle investors
Kickthehuddle	Healthcare	2 billion		Hyundai Department
Smart food networks	Food commerce	40 billion	Series B	Korea Develpoment Bank, KB Securities, Nohnparners, REDBADGE PACIFIC, E & Investment, Signite Partners, Hana financial PE, Ever Best Partners
BlueSignum	Mental healthcare	1.3 billion		Korea Investment Partners, Sprng camp
EverEX	Healthcare	8 billion	Series A	Premier Partners, Woori Venture Partners, KB Securities, Insight Equity Partners, Quad Asset Management, Hana Ventures, Samsung Next, LG Electronics
Oceans bio	Digital therapeutics	-	Pre-Series A	Seoul National University Technology Holdings, Pusan National University Technology Holdings, D.Camp, KODIT
Sinol	Senior service	-	Seed	AUM Ventures
Storelink	Ecommerce Marketing	-	Series B bridge	Shinhan Capital
FUNTION12	Design tool	1.2 billion	Pre-Series A	Mobidic Ventures, D.Camp, KODIT
Humanscape	Digital Healthcare	20 billion	Series C	GC, Care Labs, UTC Investment, Shinhan Bank, Shinhan Asset Management, Kyobo Securities, Hana Securities, Mint Venture Partners

Major Funding

• Smart Food Networks, a startup specializing in B2B logistics and distribution, has secured an investment of KRW 40 billion. The company is actively involved in providing a cold chain fulfillment service and operating a food commerce platform, which resulted in sales of KRW 95 billion last year. The infusion of funds will primarily be allocated towards facility enhancements, IT system development, and potential mergers and acquisitions.
• Healthtech startup Humanscape has raised KRW 20 billion bringing its total cumulative investment to KRW 55 billion. The company operates Mamitok, a platform for pregnancy and parenting, and offers a solution for rare and incurable diseases.
• Cellmeat, a cell cultured food company, has secured an investment of KRW 17.4 billion. The company has gained notable recognition for its prototype of cell-cultured caviar and has also introduced a prototype of Dokdo shrimp, which has attracted attention in the industry. Cellmeat is committed to continually unveiling innovative food products in the future.

#Trend Analysis

Rise in Startups Catering to Active Seniors

Startups catering to the emerging consumer group of active elderly individuals are on the rise as population aging becomes more prevalent. While previous attention has been given to services focused on senior care, there is now a notable increase in startups addressing the needs and interests of the middle-aged population, who possess economic power and enjoy leisure activities. In particular, numerous interest-based social communities and meeting platforms, which have already proven their marketability with the MZ generation, are now surfacing.

One such platform is Viva La Vida, which operates through the app OE and offers hobby groups that cater to specific regions and interests for the middle-aged population. Its distinguishing feature lies in providing a voice communication metaverse service, catering to the preference of middle-aged individuals who are more comfortable with voice interactions than text-based chats. Viva La Vida supports the establishment of relationships among its users. Additionally, Whocares Korea has introduced SINOR, a service that connects active seniors above the age of 50 by providing information about potential friends and activities. SINOR facilitates both one-on-one and group matching based on shared interests. To ensure user safety, SINOR plans to implement facial authentication and a 24-hour monitoring system to prevent malicious users. Moreover, Roche Korea operates Siso, a leisure curation platform targeted at the 5060 generation.

The demand for commerce platforms catering to this demographic is also on the rise. Bind operates Athler, a fashion e-commerce platform specializing in middle-aged men’s fashion, including outdoor goods. Athler boasts a repurchase rate of 31% and plans to exclusively introduce 140 men’s favorite brands that have yet to enter the online market. Additionally, a helper service called DDOKBI has been introduced to assist middle-aged individuals who may find online services challenging. DDOKBI serves as a personal assistant through chat, offering support for daily tasks such as information search, shopping, and reservations.

Senior healthcare startups are also leveraging technology to enhance their expertise. Silvia Health applies human-centered AI technology to clinical research, offering solutions for early detection and prevention of dementia. This approach has been proven effective in preventing dementia onset. Another startup, Livelively, has developed its own exercise prescription algorithm by utilizing feedback from seniors regarding pain and utilizing all-weather exercise data. Other healthcare startups catering to seniors include Care, a family-based healthcare communication app, and Junction Med, which provides Care-Bom services.

The proliferation of startups targeting seniors can be attributed to their pursuit of diverse lifestyles empowered by their economic capabilities. As a result, the market is expected to further expand, accompanied by an increase in the number of related companies.