- POSCO inked a partnership with the Ministry of SMEs and Startups and the Korea Venture Capital Association to inject 1 trillion won ($837 million) into start-ups by 2024.
- South Korean financial firms plan to spend a total of 585 billion won (US$492 million) this year to adopt new technologies, such as artificial intelligence and big data analytics.
- South Korea will spend 240 billion won (US$204 million) in the next 10 years to develop key semiconductor technologies that can alter the paradigm of the chip industry as a whole.
- Grofers, a Gurugram-based grocery startup, raised $200 million (Rs 1,406 crore) in funding led by SoftBank Vision Fund. The fundraise, the largest ever for the startup, saw the participation of South Korea-based KTB Ventures, its newest investor, as well as existing investors Tiger Global Management and Sequoia Capital.
- Indonesia-based venture capital firm Kejora Ventures, together with South Korea-based InterVest, has raised more than US$100 million for its third fund. Korea Development Bank, Korea Venture Investment Corporation, NH Investment and Securities, Industrial Bank of Korea, Barito Pacific Group of Indonesia are among the limited partners.
- Noom, a mobile healthcare company with 48 million members worldwide, has attracted investment worth $58 million (about 67.7 billion won) from Sequoia Capital, Eagle Ventures, and Samsung Venture Investment, as well as renowned VCs such as Jan Koum, Tony Xu, Josh Kushner, Scooter Braun and Fred Ehrsam.
- SendBird, a US-based startup devoted to customizable chat and messaging API service, raised an additional $50 million, bringing its total Series B funding round to $102 million.
- South Korean online grocery delivery startup Market Kurly has raised an additional W35 billion ($30 million) from private equity firm Hillhouse Capital in its ongoing Series D funding round.
- AmazeVR, a virtual reality content creation platform provider, has secured an additional US$7 million in a fundraise led by Japan’s Mirae Asset Group.
- Extriber, a Seoul-based startup dedicated to operating mobile tour package recommendation platform Tripstore, has raised 7.1 billion won ($6.1 million) series B round funding. The round investment was joined by DS Asset Management, KT Investment and Kakao Ventures.
- Medical IP, a South Korean company that specializes in 3D bio simulators, raised 5.6 billion won worth of Series B investments from Starset, SJ Investment Partners and Neoplux. The company received positive reviews for its medical image 3D modeling platform that uses artificial intelligence, VR (Virtual Reality) and AR (Advanced Reality) and its potential to be used as an indicator for international standardization.
- South Korea’s financial conglomerate Mirae Asset Financial Group has invested $5 million in Indian food delivery service startup Shadowfax, betting on the growth potential of the world’s second most populated market.