Crypto Exchanges Draw Fresh Investment as Asteromorph Raises $30 Million Seed Round: VC Briefing
Summary
- Samsung affiliates acquired a 4%% stake in Dunamu for 612.8 billion won ($444 million), while Hana Financial Group and Hanwha Investment & Securities had also invested.
- Korea Investment & Securities and OKX Ventures each acquired a 20%% stake in Coinone, investing a combined 160 billion won ($116 million).
- Scientific superintelligence developer Asteromorph raised 42 billion won ($30.4 million) in seed funding, with Mirae Asset Venture Investment and others participating.
Forecast Trend Report by Period
Here is a roundup of last week’s venture capital deals compiled with The VC, a venture capital and startup data provider. The aim is to highlight ideas emerging from today’s investments.
Crypto exchange operators Dunamu, the parent of Upbit, and Coinone stood out during the week. Samsung affiliates including Samsung SDS, Samsung Securities and Samsung Card agreed to acquire a 4% stake in Dunamu for 612.8 billion won ($444 million). Hana Financial Group and Hanwha Investment & Securities had previously invested in Dunamu.
Korea Investment & Securities and OKX Ventures each acquired a 20% stake in Coinone, making them joint third-largest shareholders. OKX Ventures is the investment arm of global crypto exchange OKX. Korea Investment & Securities and OKX each invested 80 billion won ($58 million), for a total of 160 billion won ($116 million). The transactions reflect continued consolidation in the crypto market.
Scientific superintelligence developer Asteromorph raised 42 billion won ($30.4 million) in seed funding. BonAngels Venture Partners, FuturePlay and Mirae Asset Venture Investment participated in the round. Chief Executive Officer Lee Min-hyung was recently appointed head of the AI scientist mission for K-Moonshot, a national strategic project. The project aims to raise research productivity in science and technology through AI adoption and tackle 12 major national-level challenges.
Space launch startup Unastella raised 33.5 billion won ($24.3 million) in a Series B round. Investors included Altos Ventures, Korea Development Bank, Strong Ventures, KDB Capital and Woori Venture Partners. Unastella developed Una Express, a small launch vehicle that uses an electric motor pump cycle engine. The company is aiming to offer satellite launch and suborbital human spaceflight services.
Other companies that raised funding included all-solid-state battery developer Solivis, plant-based collagen developer Loga and defense company JLabs.
Lee Go-eun, Hankyung.com reporter (ccat@hankyung.com)
Korea Economic Daily
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