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The Venture Codex

Dev Sisters Ventures

327, Dosan-daero, Gangnam-gu, Seoul, 06019, South Korea

Overview

Venture Capital firm in Korea. We are interested in early-stage investment in gaming, healthcare/biotech, IT services and high technology companies.

Total investments
4
Lead investments
1
Investments · 12mo
1
Active investors
2

Sector focus

  • Venture Capital
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Investment portfolio

  • DEEPLY

    Led · Equity · Jun 2026

    DEEPLY develops and operates Listen AI, an industrial acoustic AI solution that isolates target sounds, filters out human speech and ambient noise, and detects subtle sound variations to assess normalcy. The technology has been deployed for quality inspection of mechanical components, fastening sound analysis, predictive maintenance on production lines, and public safety applications. In real-world manufacturing deployments, Listen AI has demonstrated inspection accuracy exceeding 99.87%. The system is in use at domestic and Mexico-based plants of an H Group affiliate and on motor lines at H Company. DEEPLY has recorded more than threefold annual growth over each of the past three years since launching the solution. The company is pursuing international expansion, prioritizing North America and planning to participate in Automate 2026 to accelerate its U.S. entry, and is linking its latest financing to the TIPS program for further support.

  • Clover Games

    Participated · Series B · Nov 2023

    Clover Games develops and operates mobile games, notably 'Lord of Heroes' which launched in March 2020 and has exceeded 8 million downloads. The company said it is stably servicing that title while pursuing new growth engines. To finance upcoming projects it raised a Series B totaling ₩15 billion (150억 원). The firm has announced a new internally developed IP, 'HeavenHells', a subculture-genre title about girls creating hope amid destruction. 'HeavenHells' is being developed with the largest development budget in the company's history and had its trademark filed in August. Clover Games aims to launch the new title in 2025 and target global markets including Korea, Japan and the United States.

  • Sky Labs

    Participated · Series C · Oct 2023

    Sky Labs, based in Seoul and led by CEO Jack Lee, aims to shift hospital-centric care to patient-centric, continuous monitoring in daily life. Its flagship product, CART BP, is a ring-type cuffless continuous blood pressure monitor that enables 24/7 measurement. CART BP also tracks how lifestyle habits—sleep, stress management, exercise, alcohol consumption—and reactions to blood pressure medication affect blood pressure levels. By capturing continuous data, the device helps hypertension patients better manage blood pressure and contributes to cardiovascular disease prevention. Sky Labs has signed a distribution agreement with Daewoong Pharmaceutical to fully launch CART BP to hospitals and clinics across Korea. The company raised KRW 20.7 billion in its Series C and intends to use the proceeds to expand operations and broaden its business reach. Sky Labs develops CART-I, an AI-based ring-type heart monitoring platform that combines a ring wearable, a user mobile app and a medical-professional web platform to enable outpatient atrial fibrillation monitoring. The ring uses a photoplethysmography (PPG) sensor to measure fingertip blood flow and irregular pulse waves, with data transmitted to a cloud platform where AI detects and analyzes atrial fibrillation. CART-I has earned CE-MDD certification and is being prepared for U.S. FDA approval. Sky Labs has expanded into overseas markets, including clinical research at Oxford University Hospital and a distribution agreement with Titan Commerce Continental Services GmbH for sales in Germany, Austria and Switzerland. The company plans to expand global clinical research in the UK, the Netherlands, Germany and the U.S., strengthen U.S. and European marketing, develop monitoring devices for other chronic diseases and recruit additional staff. Financially, Sky Labs finalized a $20 million Series B and has attracted $30 million in total funding to date.

  • ILIAS Biologics

    Participated · Series B · Oct 2020

    Ilias Biologics develops exosome-based therapeutics using its EXPLOR® platform, a novel protein-loading method that enables free-form loading of large therapeutic proteins into exosome lumens. The company’s lead candidate, ILB-202, produced promising preclinical data published in Science Advances, and Ilias secured a key exosome engineering patent from the USPTO in July. The Series B proceeds will support continued development of the EXPLOR platform and advancement of its exosome therapeutics pipeline across inflammatory diseases and oncology. Ilias plans to submit an IND to the U.S. FDA and initiate a first-in-human clinical trial by the second half of 2021 targeting an undisclosed acute inflammatory disease, and is in active discussions with multiple pharmaceutical companies for potential collaborations. Financially, the company has raised a total of $40.2M since its foundation in November 2015. Management is led by CEO Dr. Chulhee Choi and is planning an IPO on KOSDAQ in Q1 2022, with underwriter contracts being finalized.

Team