- Briefing Your roundup of Asian tech and startup news that matter
Miguel Cordon · · 1 min readKorea’s Danggeun Market turns unicorn as SoftBank joins $162m round
“Danggeun Market, the publisher of South Korea’s hyperlocal community app Karrot, announced it has raised US$162 million in a series D round of funding with a valuation of US$2.7 billion,” reported TechCrunch.
Details:
- Danggeun Market’s latest round was led by DST Global, with participation from Aspex Management and Reverent Partners. Existing backers such as Goodwater Capital, Altos Ventures, SoftBank Ventures Asia, Kakao Ventures, Strong Ventures, and Capstone Partners also returned as investors in the round.
- Danggeun Market, which officially entered the unicorn club following the round, will use the new funds to expand globally, invest in AI, and diversify its business, which includes the expected launch of its fee service Danggeun Pay later this year.
Dive deeper:
- Danggeun Market said the new funding comes as it crossed 21 million total registered users, which works out to roughly one user per household in Korea.
- Earlier today, it was announced that SoftBank Ventures Asia co-led Chinese self-driving vehicle firm Neolix’s series B round.
Editing by Collin Furtado and Arpit Nayak
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
