• Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • FinTech
    • Gadgets & Electronics
    • Health & Bio
    • IoT
    • Marketplaces & E-commerce
    • Robotics
    • Transportation & Logistics
    • Investments
    • Ecosystem & Lists
  • Interviews
  • Events
    • ComeUp
    • NextRise
  • Governments
    • KISA
    • KISED
    • KOCCA
    • KOTRA
    • MSS
    • NIPA
    • SBA
    • SFL
  • Programs
    • SGSC Global Bootcamp 2021
    • LAUNCHPAD
    • COMEUP STARS 120
    • K-Startup Grand Challenge
    • TIPS X beSUCCESS Global Project
    • SFL Global Program
  • Investment Opportunities
    • SGSC Demo Day
    • Launchpad France Demoday
    • TIPS Global Demoday
    • Launchpad USA Demoday
    • Launchpad Indonesia Demoday
  • Submit an Article
  • register
  • login
KoreaTechDesk
No Result
View All Result
KoreaTechDesk
No Result
View All Result
Home Marketplaces & E-commerce

Proptech startup Zigbang receives $27 million investment from VC Association fund

Jeon Jinju by Jeon Jinju
June 7, 2022
in Marketplaces & E-commerce
0
Zigbang

Zigbang's metaverse office space - Soma launched in the USA.

0
SHARES
343
VIEWS
Share on FacebookShare on Twitter

Korea’s number one property search platform Zigbang has received an investment of 33.5 billion won ($27 million) through the Venture Investment Association. The proptech startup had attained a corporate valuation of 2 trillion won last month after an acquisition deal, which is double the value in a year. Zigbang has increased profitability by establishing a dominant platform used by 8 million monthly users.

The latest funding was headed by Black Pearl Ventures, which established a proptech fund and gathered institutional investors. The investment is designed with two investment structures: senior and subordinated. MG Saemaul Geumgo Federation, a major player in the capital market, confirmed an investment of 16 billion won as a senior anchor limited liability investor (LP). Insurance companies and capital companies participated in recruiting senior and subordinated positions. The fund is designed to receive priority distribution to senior investors to ensure a specific return rate and distribute a portion of excess profits to subordinate shareholders (profit sharing).

Zigbang recorded 47 billion won in advertising sales for one room, officetel, and villa. It has a 40% market share. The area is growing steadily every year. The sales level is expected to reach 64 billion won within three years. Sales of new pre-sale advertisements also increased explosively, jumping from 2 billion won in 2020 when the business started to about 9 billion won in 2021. This year’s sales are expected to exceed last year’s.

Partnerships, acquisitions & expansion push growth

The apartment joint brokerage partnership with Ontact Partners is also considered a strength. Zigbang plans to further partner with an authorized broker this year. The apartment brokerage business in Korea is expected to record annual sales of 700 billion won within three years. The property search in the Korea industry is expected to generate about 40 billion won in net sales per 1,000 people.

Zigbang’s acquisition of Samsung SDS’ smart home Internet of Things ( IoT ) division also helped the growth. The startup plans to innovate the future residential environment by combining Samsung SDS’ smart home division’s hardware (HW) and Zigbang’s software (SW) technology. In terms of sales, smart homes and door locks, which currently cost only 1 million won to construct an apartment, are expected to cost 10 million won with a new approach.

Last month Zigbang established ‘Soma,’ a global virtual office platform in metaverse space and an upgraded version of its metaverse office service Metapolis developed in July 2021. Currently, the platform is occupied by  Our Home, Startup Promotion Agency, Hyundai Engineering, Flitto, Timon, and Great Imagination.

Also Read,

  • Zigbang forays to the smart home market with Samsung SDS’ home IoT unit acquisition 
  • Day 1 of COMEUP 2021: Fireside chat on property focuses on how Proptech will change the real estate industry post Covid-19
  • Know the air you breath in your home with Korean startup Bitfinder’s smart device Awair
  • Korean startup On Tech’s smart mirror that controls devices & sterilizes the air
What’s your thoughts?
+1
0
Upvote
+1
0
Clap
+1
0
Clap
+1
0
On fire
+1
0
Meh
+1
0
Clap
+1
0
Tags: Apartments in KoreaInvestmentMetaverseProperty in KoreaSmart HomeZigbang
Previous Post

Korean startups that are putting the planet first

Next Post

Korean startup launching a nose-print identification for dogs, an alternate to the microchip embedding process

Next Post
iSciLab’s app will scan dog’s nose print for identification.

Korean startup launching a nose-print identification for dogs, an alternate to the microchip embedding process

0 0 votes
Article Rating
Subscribe
Login
Notify of
Please login to comment
0 Comments
Inline Feedbacks
View all comments
No Result
View All Result

Follow Us

FREE NEWSLETTER




PRODUCTS

Most Popular

  • Top Korean startup event COMEUP 2022 accepting applications for COMEUP Stars program

    0 shares
    Share 0 Tweet 0
  • Top Korean Dating apps that can help you make new connections in South Korea

    12 shares
    Share 12 Tweet 0
  • 10 K-Dramas to watch for some ‘money matters’

    0 shares
    Share 0 Tweet 0
  • Medical AI startup Lunit makes KOSDAQ debut with 28.7% surge in stock price

    0 shares
    Share 0 Tweet 0
  • Top 3 Websites where you watch Korean drama & movies

    12 shares
    Share 12 Tweet 0
  • Korean financial super app Toss operator Viva Republica attracts $228 million investment

    0 shares
    Share 0 Tweet 0
  • Korean Webtoon companies that are giving the audience addictive content

    15 shares
    Share 0 Tweet 0
  • Three Restaurant Apps to try out for a fine dining experience in South Korea  

    9 shares
    Share 9 Tweet 0
  • Korean startup Alchemi Lab develops the world’s first MPT-based crypto-trading platform

    0 shares
    Share 0 Tweet 0
  • Korea adds 5 new unicorn startups in the first half of 2022; Total now 23  

    0 shares
    Share 0 Tweet 0
  • Facebook
  • Instagram
  • LinkedIn
  • Twitter

Copyright © 2022 KoreaTechDesk | About Us | Sponsorships| Terms of Use |Privacy Policy |Cookie Policy Contact: [email protected] DMCA.com Protection Status

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • FinTech
    • Gadgets & Electronics
    • Health & Bio
    • IoT
    • Marketplaces & E-commerce
    • Robotics
    • Transportation & Logistics
    • Investments
    • Ecosystem & Lists
  • Interviews
  • Events
    • ComeUp
    • NextRise
  • Governments
    • KISA
    • KISED
    • KOCCA
    • KOTRA
    • MSS
    • NIPA
    • SBA
    • SFL
  • Programs
    • LAUNCHPAD
    • COMEUP STARS 120
    • K-Startup Grand Challenge
    • TIPS X beSUCCESS Global Project
    • SFL Global Program
  • Investment Opportunities
    • Launchpad France Demoday
    • TIPS Global Demoday
    • Launchpad USA Demoday
    • Launchpad Indonesia Demoday
  • Submit an Article
  • Forums
  • register
  • login

Copyright © 2022 KoreaTechDesk | About Us | Sponsorships| Terms of Use |Privacy Policy |Cookie Policy Contact: [email protected] DMCA.com Protection Status

Posting....
wpDiscuz
0
0
Would love your thoughts, please comment.x
()
x
| Reply

Insert/edit link

Enter the destination URL

Or link to existing content

    No search term specified. Showing recent items. Search or use up and down arrow keys to select an item.