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TechCrunch is coming to Seoul for its 2nd Meetup event
198일 전

Last year, TechCrunch came to Seoul to host its first-ever Meetup, and is returning to Seoul on October 27, 2016 to host its second Meetup+Pitch-Off competition for Korean early-stage startups. “We had reside chats with tech leaders like Jimmy Jihoon Rim, the CEO of Kakao and Bedy Yang, Managing Partner at 500 Startups. Our first Pitch-Off winner, BBB, a pioneering mobile health company, has already raised $5 Million in Series A funding this…

5 Fintech Startups to watch in Korea.
491일 전

Huge institutions, archaic systems and lots of money at stake. These are the conditions that have brought tech entrepreneurs to the wildly exciting and growing arena of financial tech.Both venture capitalists and Wall Street are rushing into the space, investing $10.5 billion in fintech startups during the first nine months of 2015, up from $3.9 billion in the same period last year. and For Korea, If the government were willing to lower barriers…

SK and Brookside Capital invest $56m into Socar, Korea’s leading car sharing service
520일 전

Korea’s top car-sharing app maker ‘Socar’ has successfully secured a series B investment from SK and Brookside Capital part of Bain Capital for an amount of US$56m (KRW 65b). In October 2014, Socar secured a Series A investment of US$15.5m (KRW 18b) which was used to secured the required vehicle and parking infrastructure which in turn paved the way for growth and offering of new services. As a result of this earlier investment, Socar…

Additional US$4.3m investment for tailored men’s fashion O2O startup ‘Stripes’

Stripes, an O2O startup offering tailored men’s fashion has secured additional investment US$4.3m. On the 2nd November, the company, determined to become a comprehensive brand for men’s fashion launched its first oversea branch in Singapore. Lee Seung Jun from the company commented, “After studying the Asian market, we determined a high consumer preference towards Korean products”. The company plans on further oversea launches following the acquisition of ‘Dream Factory’ a manufacturer of luxury…

Kakao needs a new revenue stream, plans to expand into delivery service
532일 전

Kakao Corp. (KOSDAQ 035720) today reported third quarter financial results under Korean-IFRS. Kakao’s consolidated revenue for the quarter was KRW 229.6 billion with mobile businesses making up 56%. For the third quarter, Kakao focused on actively identifying and promoting new ideas and business opportunities. This led to uniform growth in mobile businesses, and consolidated revenue for the quarter grew 1.4% QoQ and 3.5% YoY. Kakao’s commerce platform showed the greatest growth in…

SK Telecom boosts investment into MCN provider Treasure Hunter by US$4.3m
535일 전

SK Telecom has made a US$4.3m (KRW 5b) into MCN (Multi Channel Network) operator Treasure Hunter. Treasure Hunter is the creator and operator of famous and popular channels such as YangDding (YG Gaming Channel), Aligator and Eve Kim.  The investment is expected to boost the Hotzil channel which was launched on the 9th November as a channel for music, live and entertainment mobile video. SK Telecom highlighted their aim in improving the…

Mobile security developer, Lockin Company secures $1.3m investment business bank
540일 전

Lockin Company, a specialist in mobile security solutions has received US$1.3 million (KRW 1.5b) in investment from KDB Business Bank. The investment comes within 2 years since its startup and has been sourced from a business bank rather than a traditional venture capital. This investment is the first of its kind in Korea from a major business bank into a startup still in its early stages. This investment reflects the level of…

Kakao’s K Group Ventures acquires beauty solution provider Hasys
561일 전

K Venture Group, a specialist investment branch of Kakao has acquired a majority (51%) stake in top beauty solution company ‘Hasys’.  Hasys is the developer and service provider of client management solutions for salons, facial salons, and nail shops. Their beauty client management solutions ‘HairJjang’ and ‘Beauty Jjang’ as at September 2015 maintain more than 9,600 clients. This represents 69% of the market for beauty company client management solutions. On the topic…

Korean beauty commerce company, Althea gets backing from Silicon Valley’s 500 Startups

Althea the top Korean beauty commerce company in South East Asia has been successful in securing an investment from 500Startups, which is among the best known Silicon Valley venture capitals. Although the company was only launched in April this year, they successfully secured an early stage investment with Bon Angels in May. Five months down the track, they have caught the eye of Silicon Valley’s 500Startups with a new investment. Key members of…

Joint investment by K Cube Venture and Partners Investment of US$1.7m into game MCN specialist startup, Kong Doo Company.
569일 전

On the 6th, the joint investment was confirmed between K Cube Ventures, a specialist investor into internet, mobile and technology and Partners Investment. The investment is into a game company Kong Doo Company which specializes in MCN (Multi Channel Network) for games and the investment worth US$1.7m (KRW 2b) Kong Doo Company Professional is Korea’s premier gaming MCN originally starting with StarCraft gamers Hong Jin Ho and Kim Taek Young. For the…

Korean fintech startup Coin Plug get US$4.2m investment for Bitcoin blockchain technology

On the 1st October, CoinPlug, a Fintech company specializing in blockchain technology using bitcoins, announced that it had secured US$4.2m (KRW 5b) in investments from domestic investors. Atinum Investment lead the investment along with other investors including KB Investment and SBI Investments. Uh Jun Sun CoinPlug’s representative said, “This investment activity from local investors highlights the rising importance of blockchain technology”. He added the company was, “Delighted that CoinPlug has become the first blockchain…

Korean IT outsourcing startup platform, WishKet receives US$1 million investment

  Wishket, a startup specialist in IT outsourcing has received a US$1 million (KRW 1.2b) investment from Smilegate Investment and Mega Investment. Wishket is an online outsourcing platform linking IT projects with IT specialists that can carry out the work. When a company registers a project on Wishket, prospective talent are able to anonymously tender their proposals. The various proposals are organized in concisely and in a format easy to compare. In the process…

UAE VC MENA Apps invests US$170 million into Korean Startup with Towerless Internet Technology

  On the 21st September, global satellite communication company DiGiFi Korea was successful with securing an investment worth US$170 million (KRW 200 billion) from UAE’s largest venture investment company, MENA Apps. Founded in 2014, DiGiFi Korea is a global company that developed an antenna for satellite communication that enables worldwide internet access. Their technology is able to create a wi-fi hotspot through their antenna that broadcasts the internet through low earth orbit satellite….

Fiscal Note acquires political analytic application company MyCandidate
595일 전

On the 10th September, FiscalNote announced its acquisition of Korean political analytic company MyCandidate. FiscalNote provides services of real time legal and policy data analysis. Similarly, the South Korean company MyCandidate specializes in analysis of political candidate campaigns through their developed and services application. This acquisition is expected to boost the access of open legal and government data from Asia through  MyCandidate that tracks and collects information of political campaigns and summarises…

NEOFECT shows how a robotic glove can help stroke victims
597일 전

Editor’s note : This article ‘NEOFECT shows how a robotic glove can help stroke victims’ was orginally published by e27’s Elaine Huang Meet NEOFECT, a South Korean tech company that wants to change the face of rehabilitative therapy for victims of stroke and other brain trauma. Founded by Hoyoung Ban, who is also the CEO, NEOFECT is doing that with RAPAEL, a US$1,000 robotic glove that runs on Android and connects to…

KTB Network invests $2.5m into Korean beauty eCommerce B2Link

KTB Network specializing in company investments in the global field of cosmetics, fashion and electronics has confirmed an investment deal worth US$2.5m (KRW 3b) into B2Link.  This recent investment follows on from DSC Investment totalling US$1 million (KRW 1.3b) in September last year and January this year. The deal is expected should accelerate the developments required to become a global business. Since starting one year ago, the company has recorded first half year…

Make your own viral video ads to entice users with Hooreel
601일 전

Editor’s note : This article ‘Make your own viral video ads to entice users with Hooreel’ was orginally published by e27’s Elaine Huang Late last month, South Korean startup IndieCF launched its first iOS application Hooreel which promises to let anyone and everyone with a smartphone “create their own viral marketing videos”. The free app is specifically targetted at business owners who might not have the equipment, resources or expertise to create…

Yellowmobile records US$66 million Q2 sales
604일 전

  As revealed on the 31st August, mobile service provider YellowMobile has reported Q2 sales total of US$66m which is up 533% from the same period last year.  Compared to Q1 figures, sales has grown by 38%. YellowMobile’s Q2 goals followed on from Q1 trends as they concentrated their efforts on expansion into foreign markets, and positioning itself for sector growth. The results of the 5 business streams categorised in order of magnitude are: O2O $27.6m…

Softbank Ventures, invests into Gaudi Audio Lab – VR Audio startup

On September 1, Softbank Ventures Korea announced a joint investment deal with Capstone Partners for an amount US$920k which is to be invested into Gaudi Audio Lab. When founded, Gaudi Audio Lab’s mission was to provides the ultimate sound experience that integrates sound and feeling.  This sound solution technology is aimed at complementing the emerging AR and VR markets. Key members include experts at the Wilus Institute of Standard and Technology who led…

Fintech startup BMO receives $1.8m from investors for Honest Fund P2P loan service

Fintech startup company BMO has received approximately US$1.8 million from investors including Yellow Financial Group, Settle Bank and Shin Hyun Sung the CEO of Ticket Monster for their P2P (peer to peer) loan service platform Honest Fund. Honest Fund is a peer to peer personal loans and investments service, that directly connects borrowers to lenders without banking institutions. The platform provides borrowers access to funds that do not impact on credit ratings…