South Korean startups secured a record US$10.3B in 2021
The story: South Korean startups received KRW 12.28 trillion (~US$10.3 billion) in funding in 2021, up 192 per cent compared to that of 2020, reports Startup Recipe. This is also the highest amount of investment ever poured into the country’s startups, with a total of 1,272 deals throughout the year.
Key sectors: Consumer tech, bio/healthcare, and software attracted the most investments, while fintech and environmental, social, and governance (ESG) were the most popular investment areas. Softbank Vision Fund injected the largest amount.
Emerging trends: Keywords that symbolise South Korea investment trends of 2021 include non-face-to-face, digital transformation, generation MZ and lifestyle, and the fourth industrial revolution. Luxury, fashion, used (resell), and last-mile delivery platforms emerged rapidly in 2021. Metaverse and blockchain (NFT) also caught investors’ interests.
Also read: 15 South Korean startups set to pursue the Southeast Asian market
The most funded company of 2021 was Yanolja (~US$840.2 million), followed by Kurly (~US$231.4 million), Viva Republica (~US$386.5 million), TMON (~US$256.2 million), and Ruiid (~US$168 million) followed in the top 5.
Kurly, Karrot, NPIXEL, Zigbang, and Dunamu are five companies that joined the unicorn club in 2021. It took an average of seven years for these companies to become unicorns.
Wavemaker Impact joins hands with UNDP to support sustainable tech firms
The story: Climate tech venture builder Wavemaker Impact (WMI) and the United Nations Development Programme (UNDP) have joined hands to support the development of scalable and sustainable technology companies.
The plan: Under the three-year partnership, UNDP will offer WMI training, tools and support, covering practical impact measurement and management frameworks. These will help evaluate and elevate WMI’s social and environmental impact at the level of individual companies, investment portfolio and the firm.
Climate action, affordable and clean energy, sustainable cities and communities, and industry, innovation and infrastructure are the four sustainable development goals (SDGs) of focus.
Also read: How debt financing, crypto, SPACs keep the climate-tech funding momentum in SEA
UNDP has developed special SDG Impact standards for various asset classes, including PE/VC funds, and operates a dedicated network of Impact Venture Accelerators (UNDP IVA) that integrate impact aspects in incubation and acceleration of ventures.
India’s MediBuddy snags US$125M Series C
The crux: A digital healthcare platform MediBuddy offers a care platform for its users to consult specialist doctors, order medicines and book lab tests from the comfort of their homes.
Investors: Quadria Capital, Lightrock India, Bessemer Venture Partners, India Life Sciences Fund III, Rebright Partners, JAFCO Asia, TEAMFund LP, FinSight Ventures, InnoVen Capital, Stride Ventures, and Alteria Capital.
The plan: MediBuddy will further invest in customer awareness, hiring, strengthening technology platforms, including data science capabilities, clinical research, and product development. The startup is also expanding its footprint across India, including Tier 2 and Tier 3 towns.
Also read: How Asian governments are leading digital health promotion
More about MediBuddy: Founded in 2000, MediBuddy provides a healthcare subscription plan, covering unlimited specialist doctor consultations for the user and the family. The startup’s customers include corporates, whose employees will have access to multiple healthcare benefits provided by MediBuddy.
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Image Credit: Wavemaker Impact
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