SparkLabs Taipei pours funding in 8 startups from third cohort

SparkLabs said it has invested US$40,000 in each of the eight startups that form the third cohort of its Taiwan accelerator program in exchange for up to 6% equity.

The startups are working on solutions in fields like telemedicine, commercial AI, and internet of things, among others, according to a statement.

Edgar Chiu, co-founder of SparkLabs Taipei / Photo credit: SparkLabs

Established in 2018, SparkLabs Taipei said it has invested in a total of 18 startups that have received further funding from 500 Startups, NEC Capital Solutions, and Hive Ventures, among others.

Here are the startups that pitched during the program’s third demo day:

• Idrip manufactures and sells IoT coffee makers that are capable of replicating the brewing techniques of expert baristas.
• Terminal 1 is a tech-enabled recruitment firm helping enterprises and engineering candidates match at higher rates through automation.
• Cocomelody is an ecommerce firm that offers an omnichannel retail experience to find personalized, affordable, and custom-fit wedding dresses.
• Penguinsmart is a startup enabling intelligent and individualized rehab therapy through AI.
• Mobagel helps enterprises to make the right business decisions through its automated machine learning software.
• Funtek is an app-free chat solution provider enabling enterprises to directly interact and engage with their customers by scanning a QR code.
• Justkitchen is a foodtech startup operating on a hub-and-spoke model’s infrastructure for the food delivery market.
• Var Live is a virtual reality entertainment developer that creates immersive experiences such as VR theme parks.

Offered twice a year, SparkLabs Taipei aims to help Taiwanese startups expand globally and secure their next round of funding. The accelerator claims that its alumni have a 70% follow-on funding rate and are currently operating in many international markets.

During the demo day, the company also announced that it has become a strategic partner of Taipei’s Smart City Office, which is dedicated to developing smart city solutions.