FuturePlay raises 10 billion KRW investment... "Will evolve into a corporate growth platform"

Strengthening Capabilities as a 'Business Development Platform' in Line with Startup Growth
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Seok Jong-hoon, Partner at FuturePlay (left in the photo), and CEO Ryu Jung-hee are discussing the direction of an incubation platform for individuals, startups, and companies. Photo by FuturePlay

[Asia Economy Reporter Heeyoon Kim] "FuturePlay aims to leap beyond being an accelerator to become a new future business accelerating platform."

Ryu Joonghee, CEO of FuturePlay, a venture nurturing company (accelerator), stated this during a media day press conference held on the morning of the 11th at the new office in Seongsu-dong, Seongdong-gu, Seoul. This is interpreted as a strategy to expand business not only in startup nurturing but also between mid-sized and large companies and startups.

CEO Ryu said, "We are developing an accelerating software platform that allows startups to receive the support they need at every stage of growth anytime, anywhere," and explained, "Startup accelerators are defined as areas that grow startups as their only customers, but we have redefined this new role encompassing individuals, startups, and companies as the 'Future Business Accelerating Platform.'"

Since its establishment in 2013, FuturePlay has invested in 157 companies over the past eight years, recording a cumulative investment amount of 44 billion KRW. CEO Ryu added that FuturePlay, which has solidified its position as a technology startup investment accelerator, is expanding its portfolio from robotics and autonomous driving fields to recently spotlighted healthcare, SaaS, and IT infrastructure.

Additionally, CEO Ryu emphasized, "Through joint accelerating programs with large companies such as LG Electronics, Nongshim, and Mando, we have created various open innovation cases and proven results," and added, "Based on the data accumulated over the past eight years, FuturePlay will leap forward as a platform that develops business related to startups not only for startups but also for individuals, mid-sized, and large companies."

Ryu Jung-hee, CEO of FuturePlay, is talking about the growth direction of accelerators. Photo by FuturePlay

In fact, FuturePlay has been engaged in developing an accelerating software platform since last year. This platform, which matches the capabilities and resources needed at each stage of startup growth appropriately to help stable business operation and management, is scheduled to be launched in the second half of this year.

Furthermore, it also announced plans for global expansion. CEO Ryu said, "Currently, we are investing in overseas startups in Silicon Valley, USA, and Vietnam, and also participating as a startup shareholder in Japan," adding, "In May, we plan to establish an office for entry into Indonesia and prepare a business agreement with Bandung Institute of Technology, a prestigious engineering university in Indonesia, marking our full-scale entry into the Asian market."

Following this, FuturePlay announced that it recently completed a Series B investment round worth 10 billion KRW. Participants included LG International, DB Financial Investment, and Profit Asset Management. FuturePlay plans to strengthen startup support through discovering innovative startups, investment and acquisition, and collaboration in securing technical talent together with investors.

CEO Ryu Joonghee stated, "Now, as many companies are expected to become startups through dismantling and restructuring, we plan to focus on building a future-oriented corporate nurturing platform with a view to the future 10 years from now," and emphasized, "We will establish ourselves as a company that fulfills a unique role in line with the evolution of the accelerator industry that supports startups through their growth stages."