April 19, 2024

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Seoul-based early-stage technology investor FuturePlay announced on Dec. 17 that the combined value of its portfolio startups exceeded the 1 trillion won ($858.2 million) milestone.

The value of the 100 portfolio startups, which received a combined 18.1 billion won in investment from FuturePlay, surged eightfold on average, FuturePlay said. This surge in valuation led to follow-up funding in the amount of 224 billion won combined, it added.

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The biggest portion of FuturePlay’s investment went to startups dedicated to artificial intelligence, including Allganize and Deeping Source. This was followed by autonomous driving startups like Sos Lab and Bitsensing; health care startups like Vuno and Huinno; and robotics startups including Luxrobo and Bear Robotics.

“FuturePlay’s role is to predict what is 10 years ahead, invest in startups that can disrupt the market in the future, support corporate innovations and create a new realm of business,” FuturePlay CEO Ryu Jung-hee said in a statement.

FuturePlay is also a partner to large Korean firms in the area of open innovation and as a company builder. In 2020 it intends to launch ShairSpot, a shared hair salon where self-employed hairdressers will rent workstations and keep the income they earn.

By Son Ji-hyoung (consnow@heraldcorp.com)