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1. TRACXN MONTHLY REPORT
FEBRUARY 2022
SOUTH KOREA TECH

2. South Korea Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Contents
2
South Korea Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 8
Top Funded Business Models - last 1 year 10
New Analyst Picks 11
IPOs 13
Acquisitions 14
Recent News 15

3. South Korea Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
South Korea Tech Snapshot – February 2022
South Korea Tech: Snapshot – February 2022
Note : "Investors" refers to "Institutional Investors" only
3
$691M
16 2
Overall Geo Stats
19
2
71
14
20
Funding Rounds $ Invested Analyst Picks
Tving Upgraded to
UNICORN
New Investors
i-b-x.com
Gamechanger
Series A+ rounds Active Investors IPOs
BIO-FD&C
Skonec Entertainment
Acquisitions
AN Games
5minlab
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Seoul
(5 Rounds, $356M)
Gangnam
(4 Rounds, $47.0M)
Seongnam-si
(3 Rounds, $135M)
Seocho
(3 Rounds, $46.8M)
$277M - Series D
Tving (2011, Seoul, $312M)
$109M - Series B
SemiFive (2019, Seongnam-si, $147M)
$73.9M - Series B
Luniverse (2018, Seoul, $140M)
$45M - Series C
BIORCHESTRA (2016, Yuseong, $45M)
IMM Investment
(4 Investments)
Korean Development
Bank
(3 Investments)
KB Investment
(3 Investments)
Atinum Investment
(2 Investments)
OTT Video
Tving
Electronic Design Automation
Tools
SemiFive
Blockchain Infrastructure
Luniverse
Neurology
BIORCHESTRA
Market Size
Companies Covered 6,661
Funded Companies 2,522
Total Funding $23.2B
Funding in last 12 months $7.2B
Top Exits
IPOs 391
Acquisitions 114
Company Stage
Unicorns 15
Soonicorns 42
Minicorns 159
Editor Picks 805
Series A+ 465
Series C+ 100
Acqui-Hires 1
Deadpooled 423
Top Cities
Seoul (650 Rounds, $7.2B)
Gangnam (189 Rounds, $5.0B)
Top Investors
Stonebridge Capital (58 Investments)
LB Investment (52 Investments)

4. South Korea Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Investment Snapshot
Investment Snapshot of South Korea Tech as of February 2022
South Korea Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (February 2022)*
Tving
(2011, Seoul, $312M)
$277M - Series D JC Gross Investment
SemiFive
(2019, Seongnam-si, $147M)
$109M - Series B Korea Investment Partners
Luniverse
(2018, Seoul, $140M)
$73.9M - Series B The Hive
BIORCHESTRA
(2016, Yuseong, $45.0M)
$45.0M - Series C Daily Partners
DeepCardio
(2020, Incheon, $33.4M)
$33.4M - Series A Daily Partners
Swing Mobility
(2020, Gangnam, $24.0M)
$24.0M - Series B White Star Capital
Neosapience
(2017, Seocho, $26.7M)
$21.5M - Series B BRV Capital Management
ePapyrus
(2003, Seongnam-si, $21.2M)
$21.2M - Series A Central Investment Partners
MORAI
(2018, Yuseong, $24.9M)
$20.8M - Series B KB Investment
Deargen
(2016, Seocho, $17.0M)
$17.0M - Series B NVESTOR
Mind Cafe
(2015, Gangnam, $16.7M)
$16.7M - Series B Hashed
*Shows only the lead Investors

5. South Korea Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (1/3)
List of Funding Rounds in South Korea Tech in February 2022
South Korea Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
$45.0M - Series C
BIORCHESTRA (2016, Yuseong, $45.0M)
Developer of RNA based medicines for treating
neurodegnerative disease
Daily Partners, IMM Investment, SBI Mutual Fund,
Smile Gate Investment, Quantum Ventures Korea, and
7 more
LATE STAGE
$277.0M - Series D
Tving (2011, Seoul, $312.3M)
Live and on-demand video platform
JC Gross Investment
EARLY STAGE
$3.8M - Series A
GI Vita (2021, Gangnam, $3.8M)
Provider of personalized healthcare solutions
SK Securities
EARLY STAGE
$5.0M - Series A
Shopl (2017, Seongnam-si, $5.0M)
Provider of retail management tool for companies to
collect point of sales data
IMM Investment, TBT, Korean Development Bank,
EARLY STAGE
$5.0M - Series A
MoDooDoc (2016, Seoul, $6.9M)
Provider of a listing platform of doctors and hospitals
Strong Ventures, SpringCamp, Stonebridge Capital,
Devsisters Ventures
EARLY STAGE
$6.7M - Series A
MedInTech (2020, Hanam, $6.7M)
AI-based disease diagnosis device for providers and
patients
Atinum Investment, Smile Gate Investment, FuturePlay
EARLY STAGE
$8.3M - Series A
ACON3D (2019, Seocho, $8.3M)
Online platform for game developers to buy 3D models
KB Investment, Maven Capital Partners, IMM
Investment, ES Investor, SpringCamp
EARLY STAGE
$16.7M - Series B
Mind Cafe (2015, Gangnam, $16.7M)
Digital platform offering mental health content and
consultation
Hashed, Samsung NEXT, Insight Equity, K2 Investment
Partners, E&Investment, and 1 more
EARLY STAGE
$17.0M - Series B
Deargen (2016, Seocho, $17.0M)
Developer of AI-based drug discovery platform for rare
and intractable diseases
NVESTOR, The Wells Investment, Korean Development
Bank, T S Investment, Hana Ventures

6. South Korea Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (2/3)
List of Funding Rounds in South Korea Tech in February 2022
South Korea Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
6
EARLY STAGE
$20.8M - Series B
MORAI (2018, Yuseong, $24.9M)
AI-enabled platform offering simulation solution for
autonomous vehicles
Korea Investment Partners, KB Investment, NAVER D2
Startup Factory, Atinum Investment, Korean
Development Bank, and 2 more
EARLY STAGE
$21.2M - Series A
ePapyrus (2003, Seongnam-si, $21.2M)
Online software for document management
Central Investment Partners, Hana Financial Group, ,
Kolon Investments, T S Investment, and 1 more
EARLY STAGE
$21.5M - Series B
Neosapience (2017, Seocho, $26.7M)
AI-based text content to audio & video conversion
platform
BRV Capital Management, Albatross Capital,
Timeworks Investment, , STIC Ventures, and 2 more
EARLY STAGE
$24.0M - Series B
Swing Mobility (2020, Gangnam, $24.0M)
App-based platform offering electric-kick scooter
rental services
White Star Capital, Hashed
EARLY STAGE
$33.4M - Series A
DeepCardio (2020, Incheon, $33.4M)
AI-based ECG diagnosis tool for providers
Daily Partners, SoftBank Group Corp
EARLY STAGE
$73.9M - Series B
Luniverse (2018, Seoul, $140.4M)
Blockchain-based network for identity management
and loyalty rewards solutions
The Hive, YG Entertainment, NH Investment &
Securities, Nonghyup, SBI Investment Korea
EARLY STAGE
$109.0M - Series B
SemiFive (2019, Seongnam-si, $147.0M)
Provider of cloud-based custom SoC solutions
Korea Investment Partners, BonAngels Venture
Partners, LB Investment, Mirae Asset, Pavilion Capital
Partners, and 1 more
SEED STAGE
$2.5M - Seed
Seoul Auction Blue (2011, Gangnam, $2.5M)
Online auction platform offering multi-category
products
Krafton

7. South Korea Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
List of Funding Rounds (3/3)
List of Funding Rounds in South Korea Tech in February 2022
South Korea Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
7
SEED STAGE
Seed
New Vessel (2021, Seoul)
Platform acquiring Amazon brands
Naver, CKD Venture Capital, Wooshin Venture
Investment Co, S&C Electric Company, Lighthouse
Combined Investment
SEED STAGE
Seed
TRIOAR (2021, Yuseong)
Developer of drugs for the treatment of cancer
IMM Investment, KB Investment
SEED STAGE
Seed
Solus BioTech (2019, Seoul)
Manufacturer of copper foils for applications in
electronic items
LOTTE Fine Chemical

8. South Korea Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors (1/2)
List of New Investors in South Korea Tech in February 2022
South Korea Tech: List of New Investors
8
Investor Company Info Round Amount Round Name
i-b-x.com
2 portfolio companies | IBX. — Innovation & Investment Firm, Deep Technology
Shopl
Provider of retail management tool for companies to collect point of
sales data
$5.00M Series A
Gamechanger
1 portfolio companies | Gamechanger
SemiFive
Provider of cloud-based custom SoC solutions
$109M Series B
Central Investment Partners
1 portfolio companies | Venture capital firm investing in multiple sectors
ePapyrus
Online software for document management
$21.18M Series A
White Star Capital
102 portfolio companies | Early stage VC fund focused on investing in startups
based out of North America & Europe
Swing Mobility
App-based platform offering electric-kick scooter rental services
$24.00M Series B
Albatross Capital
4 portfolio companies | Private equity firm focused on multiple sectors
Neosapience
AI-based text content to audio & video conversion platform
$21.50M Series B
JC Gross Investment
1 portfolio companies |
Tving
Live and on-demand video platform
$277M Series D
Maven Capital Partners
154 portfolio companies | Private equity investment firm operating across the
UK
ACON3D
Online platform for game developers to buy 3D models
$8.35M Series A
LOTTE Fine Chemical
1 portfolio companies | Manufacturer of industrial chemicals
Solus BioTech
Manufacturer of copper foils for applications in electronic items
Undisclosed Seed
NVESTOR
1 portfolio companies |
Deargen
Developer of AI-based drug discovery platform for rare and intractable
diseases
$17.00M Series B
quantumventures.com
1 portfolio companies | quantumventures.com -
Neosapience
AI-based text content to audio & video conversion platform
$21.50M Series B

9. South Korea Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Investors (2/2)
List of New Investors in South Korea Tech in February 2022
South Korea Tech: List of New Investors
9
Investor Company Info Round Amount Round Name
S&C Electric Company
1 portfolio companies | Electric power systems provider and monitoring
software developer
New Vessel
Platform acquiring Amazon brands
Undisclosed Seed
Nonghyup
1 portfolio companies | Offers marketing & supply business focused on
agriculture and livestock sector
Luniverse
Blockchain-based network for identity management and loyalty
rewards solutions
$73.91M Series B
Krafton
12 portfolio companies | Video game developer and publisher
Seoul Auction Blue
Online auction platform offering multi-category products
$2.50M Seed
Timeworks Investment
1 portfolio companies | Neosapience gets $21.5M to use AI-powered synthetic
avatars for creators – TechCrunch
Neosapience
AI-based text content to audio & video conversion platform
$21.50M Series B
Stick Investment
1 portfolio companies | Venture capital firm focused on series C investments
BIORCHESTRA
Developer of RNA based medicines for treating neurodegnerative
disease
$45.00M Series C
The Hive
1 portfolio companies | Brand of pocket driver
Luniverse
Blockchain-based network for identity management and loyalty
rewards solutions
$73.91M Series B
avenvc.com
1 portfolio companies |
ePapyrus
Online software for document management
$21.18M Series A
NH Securities
1 portfolio companies | Venture capital fund focused on multiple sectors
BIORCHESTRA
Developer of RNA based medicines for treating neurodegnerative
disease
$45.00M Series C
gsholdings.com.sg
1 portfolio companies | Provider of F&B branding and developing services
BIORCHESTRA
Developer of RNA based medicines for treating neurodegnerative
disease
$45.00M Series C

10. South Korea Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
10
Rank Business Model $ Funding # Rounds Top Funding Round
1 ▲8 Online Travel Agencies $1.7B 2 Yanolja | $1.7B | Series E
2 ▼-1 Car Ride Hailing $743M 4 Kakao Mobility | $478M | Series C
3 ▼-1 Digital Wallets $455M 2 Toss | $410M | Series F
4 -- Subscription Video On Demand $312M 2 Tving | $277M | Series D
5 ▲1 Cryptocurrency Exchanges $161M 3 Dunamu | $85.3M | Series C
6 ▲45 Virtual Social Networks $150M 2 ZEPETO | $150M | Series B
7 ▲8 Farm Management Software $143M 1 Green Labs | $143M | Series C
8 ▲12 Drugs for Multiple Cancer Types $142M 8 Orum Therape.. | $54.0M | Series B
9 ▲30 Blockchain Networks $134M 3 Luniverse | $73.9M | Series B
10 ▼-7 Online Fashion Retailer $115M 1 Musinsa | $115M | Series D

11. South Korea Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (1/2)
Interesting Companies identified by Analysts in South Korea Tech in February 2022
South Korea Tech: Analyst Picks
11
Upgraded to UNICORN
Tving (2011, Seoul, $35.3M, Series C)
Live and on-demand video platform
JC Gross Investment,NAVERand
Upgraded to MINICORN
Mind Cafe (2015, Gangnam, $16.7M, Series B)
Digital platform offering mental health content and
consultation
Hashed, E&Investment, K2 Investment Partners and 4
other Investors
Upgraded to MINICORN
ACON3D (2019, Seocho, $8.3M, Series A)
Online platform for game developers to buy 3D models
KB Investment, Maven Capital Partners, IMM
Investment and 2 other Investors
Upgraded to MINICORN
DeepCardio (2020, Incheon, $33.4M, Series A)
AI-based ECG diagnosis tool for providers
Daily Partners,SoftBank Group Corpand
Upgraded to MINICORN
Swing Mobility (2020, Gangnam, $24.0M, Series B)
App-based platform offering electric-kick scooter
rental services
White Star Capital,Hashedand
Upgraded to MINICORN
MedInTech (2020, Hanam, $6.7M, Series A)
AI-based disease diagnosis device for providers and
patients
Atinum Investment,Smile Gate
Investment,FuturePlayand
Upgraded to MINICORN
Shopl (2017, Seongnam-si, $5.0M, Series A)
Provider of retail management tool for companies to
collect point of sales data
IMM Investment, TBT, Korean Development Bank and
1 other Investors
Upgraded to MINICORN
Deargen (2016, Seocho, $17.0M, Series B)
Developer of AI-based drug discovery platform for rare
and intractable diseases
NVESTOR, The Wells Investment, Korean Development
Bank and 2 other Investors
Upgraded to MINICORN
ePapyrus (2003, Seongnam-si, $21.2M, Series A)
Online software for document management
Central Investment Partners, Hana Financial Group,
and 3 other Investors

12. South Korea Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
New Analyst Picks (2/2)
Interesting Companies identified by Analysts in South Korea Tech in February 2022
South Korea Tech: Analyst Picks
12
Added to Editor's Pick
NDREAM (2015, Seoul, $3.0M, Series A)
Independent mobile game development studio
Ringier,SBI Investment Korea,Alpen Routeand
Added to Editor's Pick
RAI Finance (2020, , Undisclosed, Seed)
Financial services platform offering swap, trading and
more
NGC, Alphabit, Global Blockchain Innovative Capital
and 1 other Investors
Added to Editor's Pick
Dexlab (2020, Unfunded)
Decentralized token management system
Evernew Capital,Cryptomeria Capital,3Apes Capitaland
Added to Editor's Pick
Mint Club (2021, Seoul, Unfunded)
Provider of a no-code token building platform for
multiple assets
Aka Venturesand
Added to Editor's Pick
Jongdal Lab (2016, Seoul, Unfunded)
E-distributor offering fashion materials
Lotte Venturesand

13. South Korea Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
IPO Date Company IPO Mcap Exchange Ticker
21 Feb 2022
BIO-FD&C (2005, Incheon, )
Provider of plant cell technology platform for anti-aging drug
development
$0.2B KRX:251120
04 Feb 2022
Skonec Entertainment (2002, Seoul, )
Development studio focused on VR games
$0.1B KRX:276040
IPOs
List of IPOs in South Korea Tech in February 2022
South Korea Tech: IPOs
13

14. South Korea Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Acquisitions
List of Acquisitions in South Korea Tech in February 2022
South Korea Tech: Acquisitions
14
Acq. Date Company Acquirer Deal Size
03 Feb 2022
AN Games(1999, Seongnam-si)
Strategy genre based mobile game developer
Tilting Point
14 Feb 2022
5minlab(2013, Mapo-dong)
Casual & VR game development studio
Krafton

15. South Korea Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Recent News (1/2)
Recent News in South Korea Tech in February 2022
South Korea Tech:News
15
Exit News
.
● Samsung buys Biogen out of biosimilar unit for $2.3B—not the whole Aduhelm
headacheFiercePharma
.
● Tilting Point acquires AN Games GamesIndustry
.
● South Korean proptech startup Zigbang acquires Samsung SDS’ smart home
IoT business TechCrunch
.
● Netmarble US studio to join Kabam in merger Pocket Gamer
.
● Korea’s food-tech startup Siksin creates metaverse property space before IPO
process Pulse
.
● Krafton acquires Smash Legends dev 5minlab for $19.9 million Pocket Gamer
.
People News
.
● Coupang to strengthen health food business with new CEO The Korea Times
.
● Samyang Biopharm USA Announces Appointment of Eun-Ju Ryu as New
PresidentBusiness Wire
.
● Balancehero India appoints Souparno Bagchi as COO Livemint

16. South Korea Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Explore more on Tracxn
Explore more about South Korea Tech on Tracxn Platform
South Korea Tech: Explore more on Tracxn Platform
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Companies
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Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in South Korea
AI Companies in South Korea
Fintech Companies South Korea
Consumer Digital in South Korea
Company Due Diligence
Detailed profile of Coupang
Competitors of Yanolja
Cap Tables of Kakao Mobility
Investment Activity
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Investment Trend of last 10 years
Mega Investments Rounds
Investors
Most Active Investors
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