Korea’s beSUCCESS reported on Monday that Seoul-based LOC&ALL, the startup behind car navigation app Kimgisa, has raised $3 billion Korean won (approximately $2.7 million) from Japan’s CyberAgent Ventures and two Korean investment firms, Neoplux and Partners Venture Capital. Prior to this funding, the company raised seed funding of 1 billion won ($930,000) from Partners Venture Capital in January. With these new funds, they plan to intensify their engineering and marketing efforts with the initial goal of expanding to Japan, with Mainland China and Indonesia to follow later. ...continue reading ...
The Bridge 10/2/2013 [en]
- There are no major car navigation apps in Japan so far, so CyberAgent Ventures may aim to bring the app to Japan in the future.