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South Korea’s leading Internet companies


Sep 29, 2022

Naver and Kakao, South Korea’s leading Internet companies, are scrambling to expand startup investment. The number of startups invested by the two companies has also increased.

Last month, Naver and Kakao invested seed, an initial investment in Plastics, a startup that develops robots for logistics warehouses. Floatik is a startup that has robot’s autonomous movement technology and software technology that controls multiple robots. It has established a robot-as-a-service (RaaS) system that rents robot hardware and software that controls it.

Last month, the two companies also invested $1.4 million (about 1.6 billion won) in Future Play, KDB Capital, and voice artificial intelligence (AI) startup Thumb Technology. The company developed a service that automatically records and summarizes meetings based on natural language processing technology.

In June, augmented reality (AR) startup Recon Labs received 500 million won in seed-level investment from Kakao and Naver. The strength of Recon Labs’ technology is that it quickly converts product photos and videos into stereoscopic images (3D) images and provides them in an AR method.

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