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The Korea Herald

Startups & Investors

November 13, 2019
NYC accelerator ERA invests in S. Korean esports firm

Entrepreneurs Roundtable Accelerator, a New York City-based accelerator, said on Nov. 13 that it has invested in South Korean esports startup Gen.G. The New York accelerator did not disclose the exact investment amount, but it came after a group of investors -- Los Angeles Clippers minority owner ...
November 12, 2019
Key takeaways from IFC’s ‘Connecting Korean Fintechs with Asia’

Since its first electronic inter-bank transaction in 2001, South Korea has observed a fast-paced financial technology evolution, coupled with high mobile and internet penetration and the latest deregulation measures. A recent conference by IFC -- a sister organization of the World Bank and member ...
November 12, 2019
MashUp Angels funds tech startup Lion Rocket

South Korean startup accelerator MashUp Angels announced on Nov. 12 that it has decided to fund deep learning-based tech startup Lion Rocket. “We expect Lion Rocket to become a top company in the domestic and foreign market with its tech and ability to receive audio contents,” MashUp Angels CEO ...
November 12, 2019
DamoGo aims to make impact by reducing food waste

Food tech startup hopes to raise awareness of food waste in Korea More than 820 million people still suffer from hunger due to food shortages, according to a recent United Nations report. However, developed nations produce and throw away excessive amounts of food. In South Korea, some 2,000 tons o...
November 11, 2019
Startup Alliance to co-host 3rd Berkeley VC Academy Korea

South Korea’s nonprofit organization Startup Alliance said on Nov. 11 it plans to co-host a three-day training program with Berkeley Center for Law and Business at University of California in December, marking a third one. Dubbed “Berkeley VC Academy,” the program is to be held Dec. 4-6 at Trad...
November 11, 2019
Singapore-based M-Daq raises pre-series D to expand to Korea

Singapore-based financial technology startup M-Daq said Nov. 11 that it had raised an undisclosed pre-series D round from multiple investors, including Samsung Venture Investment, to expand its cross-border currency trading solutions to South Korea. Both M-Daq and Samsung Venture, a venture capita...
November 10, 2019
Global Innovator Festa selects 46 teams with entrepreneurial potential

“The most challenging part of getting something out of startup ecosystems is getting into one, and that is 100 percent dependent on you,” said Antti Hammainen from Finland, who gave a keynote speech at this year’s Global Innovator Festa held last week in Daegu. “I mean, you just have to pick y...
November 08, 2019
SOSV seeks promising Korean startups

SOSV, a global accelerator venture capital, hopes to seek promising Korean startups for its upcoming new batch, the company’s analysts said at an event hosted by Korea Institute of Startups and Entrepreneurship Development on Nov. 8. SOSV’s regional accelerator units -- business-to-business-focu...
November 08, 2019
Banban taxi operator aims to reach 100,000 users this year

Taxi ride-sharing app Banban taxi operator Kornatus said on Nov. 8 that it aims to reach 100,000 users by the end of this year. “By offering better services and adding value, we are aiming to increase our current number of users to over 100,000 from the current 30,000 by the end of this year,” K...
November 07, 2019
Furiosa AI secures W8b in investments

Furiosa AI, a 3-year-old startup that develops artificial intelligence chips, has secured 8 billion won ($6.9 million) in investments from Naver and DSC Investment, Naver said in a statement on Nov. 7. These are follow-up investments by Naver’s tech-focused accelerator D2 Startup Factory, which f...
November 07, 2019
Lotte Accelerator hosts demo day in Busan

Lotte Group’s startup accelerator arm Lotte Accelerator announced on Nov. 7 that it has hosted a demo day event for its first batch startups of L-Camp Busan. The Korean company aims to support the startups to receive additional investments through this event. “We will work together with the Bus...
November 07, 2019
Adtech startup spaceAdd snaps up W2b from Altos Ventures for advertisers’ efficiencies

SpaceAdd, a South Korean startup dedicated to digital out-of-home advertising technology, has raised 2 billion won ($1.72 million) funding from Silicon Valley-based early-stage venture investor Altos Ventures, the investor said on Nov. 7. The startup will use the latest funding to secure more loca...
November 06, 2019
Ministry gears up to host tech forum for startups

The Ministry of SMEs and Startups on Nov. 6 rolled out plans to host a two-day tech event later in November in its move to jumpstart a paradigm shift from the state-led coordination model in order to foster the global presence of domestic startups. Dubbed “ComeUp 2019,” the event is poised to ta...
November 01, 2019
Silicon Valley-based molecular diagnostics startup Kryptos raises $2.7m pre-series A

Kryptos Biotechnologies, a Silicon Valley-based startup developing a diagnostics platform for cancer at a single-cell level, has snapped up $2.7 million in pre-series A round funding. The funding came from Seoul-based investment firms FuturePlay, Coolidge Corner Investment and KDB Capital. The la...
October 31, 2019
S. Korea passes new law for P2P lenders

South Korea’s parliament on Oct. 31 passed a new law that is expected to brush off legal gray areas for peer-to-peer lenders here once it goes into effect. The separate bill, loosely translated as “Act on Online Investment-Linked Financing,” will be effective nine months after Cabinet approval....

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