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Zikto, A Hardware Start-up From Seoul Secures $50k On KickStarter In First 24 hours

The proverbs say a good beginning is half the battle. Based on this Zikto is well on their way to success, having reached half of their KickStater goal on the first day. Update: On November 25 the $100k kickstarter goal was passed, with 27 days left on the campaign, which ends December 22. Zikto are the developers of ‘Arki,’ a wearable which helps to improve the walking posture of their user’s. While…

Mobile Ad-Platform ‘MOCOPLEX’ Is Cashing In Big On Ad-Tech, Partners With San Francisco Based SMAATO
894일 전

Seoul based MOCOPLEX has recently announced a strategic alliance with SMAATO, an Ad specialist company based in San Francisco. The partnership will leverage the unique expertise of each partner, while expanding their reach by combining Ad networks in their respective home markets. Much discussion in Korea has recently centered around the difficulties of successfully expanding into new markets. Korean/Asian startups often struggle to take hold outside their domestic borders. In the same…

Samsung Gear VR, In Partnership with Oculus VR, Set To Launch In U.S. Next Month
895일 전

  Samsung has recently announced that it plans to launch its first virtual reality headset in the U.S. in December 2014. According to a company statement it will then gradually expand the service into other countries. The device provides 360 degree rotating view, creating a life-like experience for users. It is currently linked to the Galaxy Note 4 through a micro-USB. Oculus VR’s Max Cohen believes that the future of VR will be…

DaumKakao Launches Korea’s First Mobile Money Transfer Service
896일 전

Daum Kakao has finally launched its mobile money service, BankWalletKakao, a service allows users to spend up to $450 per day and transfer up to $90 per day. A number of other major players are likely to follow suit in the near future. It is suggested that these innovations, introduced by IT companies and not banks, could alter the shape of the financial industry in the future. Samsung, who released their own…

Korean Game Designer Raises Over $100 Million Investment From LINE – Tencent Consortium

4:33 Creative Lab, a top Korean mobile game designer, has joined hands with two of the world’s largest mobile messengers, Tencent and Line Corp. The enormous investment of 1,300 billion won (around $100 million USD) will help the company break into overseas markets and will assist in their plans to go public in 2015. Announcing that it had successfully attracted funds from the mobile messenger operators, the Seoul-based mobile game company said…

Despite Being The Most Wired City, Seoul Lags in The ‘Networked Society City Index’
897일 전

Networked Society Lab published their “Networked Society City Index” report measuring the ICT maturity of the world’s major cities at the 2014 Business Innovation Forum recently held in Stockholm, Sweden, reported Business Korea. Stockholm, Sweden ranked number one and Seoul ranked 12th in the penetration and usage rates of information and communications technology. For the study 40 major cities around the world were indexed. The study evaluated the quality of each cities’…

Yello Mobile Announces $100M Investment From Formation 8, Achieves $1Bn Valuation

Yello Mobile has today announced an investment of just over $100M from Formation 8 Partners . The investment was made as a result of Yello Mobile’s opportunity to continue to grow into overseas markets. It is expected that the company will utilize Formation 8’s extensive networks and experiences from Silicon Valley, in order to lead the Asian mobile market in the future. Yello Mobile now have 50 ventures in their alliance, having…

The World’s Most Wired ‘Smart City’ Partners with SparkLabs’ Internet of Things Program
903일 전

SparkLabs, one of Korea’s leading accelerators, has signed a partnership agreement with the company behind South Korea’s $35 billion Songdo International Business District to launch their new Internet of Things (IoT) Accelerator in Songdo in early 2015. Songdo International Business District (Songdo IBD) is a $35 billion “smart” city built on 1,500 acres (6 sq km) of reclaimed land.  Located adjacent to Incheon International Airport on the western coast of the Korean…

Common Values Trump High-Tech, The Case Of Korean Startup ‘Lineable’
904일 전

“Protect our children together,” calls Lineable, a new wristband that helps track missing children. The device was developed by a Korean startup, yet the slogan has resounded with parents across the globe. What is Lineable? Lineable is a wristband loaded with beacon technology that enables parents to both prevent losing their children, and if they become lost, to find them easily. But that’s not all. Due to the core technology, the more…

Check Out These Two Korean Gaming Startups That Got Funded Today

Gaming in Korea has enjoyed around 15 years of great success. Among Korea’s top performing gaming ‘startups’ of the last 15 to 20 years are several that have achieve well over billion dollar valuations. These include NCSoft ($1.2Bn), Nexon ($3.7Bn), Com2US ($1.3Bn), and Devsisters ($755M) which just went public this month. Smilegate, another domestic star, is still private and its estimated valuation is creeping towards $4Bn. Where other areas of software innovation…

Has Samsung Finally Realised Growth Can’t Be Achieved Without Robust M&A Strategy?
905일 전

As reported by Business Korea, Samsung Electronics has begun to emerge as a player in the global M&A market. In just the last six months the electronics giant, most known for its smartphones, has purchased four foreign companies. The new and aggressive M&A strategy has been adopted to counter profit slumps blamed on falling demand for Samsung’s old cash-cow, smartphones. Recent industry reports suggested that Samsung has acquired caching company Proximal Data in…

Top Weekly Tech News Highlights From Korea
907일 전

Korea, Still A Huge Opportunity For E-Commerce The amount of mobileshopping transactions is growing at an explosive pace. The mobile shopping transaction volume achieved more than 100% growth compared to a year ago, reaching near 4 trillion won (a little less than $400 million) in the third quarter of this year. According to the OnlineShopping Trend report released by the National Statistical Office on October 31, the volume of total online shopping…

Naver Enjoys Strong Revenue On The Back Of LINE Success
909일 전

Naver, Korea’s largest search portal and parent company of the popular LINE messeging application, has sustained double-digit growth in the third quarter of this year The primary reason for this is strong revenue growth in overseas markets. The company posted sales of around $700 million for the third quarter of this year, up 22.3% on the same period last year. Operating profit for the quarter is estimated at around $188 million, also…

Pet Care In Korea Gets A Boost, As K Cube Ventures Invests In ‘Companimals’
912일 전

Despite a rather dodgy name that mashes ‘companion and animals’, Companimals is showing promise, capitalizing on a rapidly growing pet market in Korea. The Seoul-based startup has just announced a $400k investment from K Cube Ventures to make pets and their owners in Korea more happy. While Koreans love their pets, it is a country where people barely have time to look after themselves, so services that can please pets and owners…

Mobile Game ‘Cookie Run’ from Devsisters Delivers Pay Day to Investors In ‘Secret IPO’

Devsisters, the darling of Korean gaming over the last two years has listed its stock publically in what has been one of the most down played IPOs I am aware of. In fact, so down played that I wasn’t aware of it until today. At the time of the IPO the company valuation was $627 million, ranking the it 32nd most valuable company in Korea. The IPO happened on October 6th. Devsisters…

Can Big Data Implementation In Smart Cities Resolve Issues Raised By Korea’s Ageing Population?
913일 전

Korea’s rapidly-aging society, compounded by a decrease in overall population are major issues that Korea is facing. But according to Cisco System’s Dominic Scott, “the solutions lie in big data and Internet of Everything.” He was speaking at the Big Data World Convention, which was recently held at the BEXCO Convention Center in Busan City. Scott explained that the value of a big data network is equivalent to a square of the…

This Korean Startup Is Capitalizing On K-Pop Fever, Attracts 1 Million Users in 7 months
914일 전

In many countries KPop and other Korean cultural content, such as dramas and movies are all the rage. While much of this content is available on YouTube and services like DramFever and Viki, there is also a plethora of online music services tapping in to the popularity of KPop music. Beat Packing Company is a new startup in the space that aims to bring KPop to the world through their online music…

Korean Adaptive Learning Platform KnowRe Secures $6.8 Million From Softbank

KnowRe, a Korean education technology company with a cloud-based adaptive learning program for secondary mathematics has just secured $6.8 million in a funding round led by Softbank Ventures. KTB Network Co., LTD, Partners Investment, SparkLabs Global Ventures and a number of other investors joined the round. KnowRe launched in March 2014 after a year-long beta period in which the company hosted a successful pilot program involving dozens of middle and high schools in…

Softbank Ventures Has Invested To Connect Korean Foodies To The Restaurants They Crave

MangoPlate announced today a series A funding round from Softbank Ventures Korea. As described on their Google Play download page, “MangoPlate is your go-to app for discovering the best restaurants in South Korea. Available in English and Korean, MangoPlate will help you resolve your daily problem of where to eat by connecting you with trustworthy people as well as the best restaurants in South Korea.” Ryan Lee, Executive Director at Softbank Ventures Korea…

Yello Mobile – Perhaps Asia’s most Exciting Startup Story This Year [Part. 1]

Only three years after the first acquisition Yello Mobile has raised $78M, is nurturing an alliance of 35 startups, is profitable to the tune of $1.5M per month and plans to IPO next year. This is surely one of the most exciting startup stories in Asia this year. Here is part one of a two part article about their founding story, growth, and ambitious plans for the future. Part 2 coming tomorrow….