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The Korea Herald

Startups & Investors

May 27, 2020
[Herald Interview] JANDI: Usurping KakaoTalk in Korea’s work communication

Toss Lab, the maker of innovative collaboration tool JANDI, has established itself at the top of South Korea’s growing work communication platform market. The fledgling company, in just six years, has managed to go head-on with not only domestic competitors such as Flow and Collabee but also glob...
May 25, 2020
[Herald Interview] Linkflow seeks to be Korea’s first hardware unicorn with 360-degree wearable cameras

They may look like Bluetooth neckband headsets, but Linkflow’s FITT360 and NEXX360 are cameras that allow users to capture 360-degree shots of their surroundings. FITT360 and NEXX360 each have four cameras which constantly take photos and instantaneously process them into 360-degree videos. This...
May 22, 2020
Tmon vows to turn profit by 10th anniversary

Tmon, an e-commerce platform in South Korea, promised on May 22 to turn profit this year as it marks its 10th anniversary. With the goal of going public, the firm’s Chief Executive Officer Lee Jin-won revealed his ambition to lead the e-commerce market. "Tmon is a company that has been labeled t...
May 21, 2020
KT CEO meets venture capitalists amid COVID-19

KT CEO Koo Hyun-mo on on May 20 met with representatives of venture capital firms, urging them to look into new opportunities to prepare for the post-coronavirus era, the firm said Thursday. Speaking during a seminar hosted by the telecommunications firm, Koo discussed some new business areas -- o...
May 15, 2020
Regulator says 16 fintech firms attract over 136 bln won in investment

Sixteen fintech firms and startups have attracted a combined 136.4 billion won (US$111 million) in investment over the past year as the country is pushing to promote the fintech industry, South Korea‘s financial regulator said on May 14. The investments came a year after South Korea introduced a...
May 12, 2020
Korean startups consider COIVD-19 an opportunity: survey

Korean startups find the COVID-19 pandemic positive for the country’s startup ecosystem in the future, a survey by the Ministry of SMEs and Startups showed on May 12. Out of 492 respondents, 42.5 percent said the COVID-19 pandemic will bring about either a very positive or positive impact on the ...
May 11, 2020
SK Holdings leads Hummingbird Bioscience’s $6.5m Series B extension funding

SK Holdings said Monday it is the lead investor in Singapore-based Hummingbird Bioscience’s $6.5 million Series B extension funding round. Hummingbird Bioscience, founded in 2015 in Singapore by former members of global pharma giant Sanofi, researches for novel antibody drugs. Antibody drugs are ...
May 08, 2020
Grocery delivery firm Market Kurly attracts W200b investment

Market Kurly, a fast-growing grocery delivery startup, announced on May 8 that it has attracted 200 billion won ($164.3 million) in Series E funding. Led by investment firm DST Global, a group of global investors, including Hillhouse Capital, Sequoia Capital China, Fuse Venture Partners, SK Networ...
May 07, 2020
VCs’ overseas investments increase in Q1 despite COVID-19

Overseas investments by Korean virtual capitalist firms rose in the first quarter this year despite the COVID-19 pandemic, data showed May 7. According to data compiled by Korea Venture Capital Association, carried out after surveying 30 investments abroad, worth a total of 104.9 billion won ($85....
April 29, 2020
Coupang launches same-day delivery for fresh groceries

South Korean e-commerce platform Coupang launched a same-day Rocket Fresh service on April 29. The service will allow customers who order fresh food items before 10 a.m. to receive them by 6 p.m. The Rocket Fresh service has been operating its dawn overnight deliveries since October 2018. Coupa...
April 28, 2020
GangnamUnni raises W18.5b in Series B

Healingpaper Co., the operator of cosmetic surgery review platform GangnamUnni, raised 18.5 billion won ($15 million) in its series B funding round, the company said April 28. In the latest round of fundraising, led by Legend Capital, KB Investment and Hana Ventures signed on as new investors, joi...
April 24, 2020
Four takeaways from startups’ 2019 financial statements

E-commerce expands Many observers are worried about Coupang’s continued loss-making performance, but the e-commerce unicorn -- backed by SoftBank’s Vision Fund -- has narrowed its operating loss to 720 billion won ($582.9 million) in 2019, with revenue of 7.2 trillion won, jumping 64 percent on-...
April 22, 2020
Tech startups squeezed by lower funds, jobs cut amid COVID-19 pandemic

If the impact of COVID-19 continues, four out of every 10 startups might fold up in the coming three months without remedial measures, a survey on tech startups showed April 22. According to US-based research firm Startup Genome’s survey on the pandemic’s impact on startups, a majority of them...
April 22, 2020
Crowdfunding platform Wadiz launches offline space to showcase products

South Korea‘s crowdfunding platform Wadiz said on April 22 it has launched an offline space to help fund-raising efforts by showcasing their products to visitors and funders. Located in eastern Seoul, Gonggan Wadiz features a display room for “makers,” or those with an ongoing fundraising pro...
April 20, 2020
Mobile Fest launched as first Asian mobile video festival

Asia’s first mobile video festival “Korea Mobile Fest (KMF)” that was kicked off today will attract and award creative short films, organizers said Tuesday. KFM, jointly run by startup accelerator D.Camp, media company Herald Corp. and data tech firm Aroundus, is a contest platform open to all,...

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