Korean startups raking in big investment money
Summary
One venture capital (VC) insider singled out Bionetix as a startup that "stands out in the areas of glaucoma and intractable illnesses, all of which are considered blue ocean opportunities," adding that receiving 10 billion won worth of investment isnt difficult for any company with a meaningful differentiation. As the VC market heats up, more investors are making bold bets on promising companies.Megazone Cloud, which was selected by LG CNS to partner and expand its cloud business, brought in 48 billion won in Series A investment last March.Hyundai Motors strategic partner Code42, a self-driving technology start-up, raised 30 billion won last October. In September, CrowdWorks raised 10 billion won in Series A with its highly-regarded artificial intelligence (AI) data marketplace. Particularly, the number of accelerators jumped by five-fold in two years as word spread that investment in startups is promising. Plus, an increase in related government budget also contributed to making the startup industrys pockets to get deeper, experts echo.Money, however, isnt always equally dispersed.