Led · Equity · Jan 2022

Doosan Robotics builds collaborative robots (cobots) used across manufacturing, research and consumer-facing applications, including a barista robot called Dr. Presso. The company this week announced $33.7M in funding as it attends CES in Las Vegas. It introduced NINA, a “prosumer” robotic camera system due in March that supports object tracking and an open programming platform for content creators. Doosan said the new capital will be used to increase R&D and attract partners to expand its global footprint. The company reports shipping roughly 1,000 units annually, with about 70% of sales coming from outside Korea (primarily North America and Western Europe). Doosan also said it is eyeing an IPO as it pushes to grow market share in the global cobot market.

Led · Series C · Oct 2021

D&D Pharmatech is a clinical-stage global biotechnology company that funds development and commercialization of medicines through disease-specific subsidiary companies, and is parent to Neuraly Inc., Theraly Fibrosis Inc., Precision Molecular Inc., P4Microbiome and Valted Seq. Its product pipeline targets neurodegenerative, fibrotic and metabolic diseases, with lead programs DD01, NLY01 and TLY012. DD01 is a proprietary dual agonist of GLP-1R and glucagon receptors being developed for obesity and nonalcoholic fatty liver disease, with preclinical data showing weight loss, reduced liver fat and improved glucose tolerance in mice. NLY01 is a long-acting exendin-4 analogue that penetrates the blood-brain barrier and is being developed as a potential disease-modifying agent for Parkinson’s and Alzheimer’s disease; preclinical studies showed prevention of neuronal cell death and slowed disease progression in animal models. TLY012 selectively targets myofibroblasts and reversed established fibrosis in preclinical models of liver, pancreas and skin. The company completed a $51 million Series C and plans an initial public offering in Korea in 2022; proceeds will advance DD01 into a Phase 2 trial, support Phase 2 studies of NLY01, and evaluate TLY012 in fibrotic disorders. D&D Pharmatech is a clinical-stage global biotech that operates a family of disease-specific subsidiary companies to translate academic research into therapeutic and diagnostic products. Its subsidiaries include Neuraly Inc., Precision Molecular Inc., and Theraly Fibrosis Inc., which focus on neurodegeneration, neuroinflammation imaging, and fibrosis, respectively. Neuraly’s lead asset, NLY01, is a long-acting GLP-1R agonist being developed to slow progression of Parkinson’s and Alzheimer’s via inhibition of microglial activation, with Phase II studies planned for 2019 and 2020. Precision Molecular is advancing four clinical-stage and one IND-enabling PET imaging agents to detect neuroinflammation, aiming for what the company describes as the first FDA approval for such agents. Theraly’s lead candidate, TLY012, selectively targets myofibroblasts, has reversed established fibrosis in preclinical models, and is planned to enter Phase I/II trials for chronic pancreatitis and NASH/liver fibrosis in 2020. The company is headquartered in Gyeonggi-do, Korea and Germantown, Maryland, and will use the new funding to advance these clinical and preclinical programs.

Participated · Series C · Jun 2017

RIDI Corporation is a South Korean digital content platform. The article describes RIDI as a unicorn. Singapore’s sovereign wealth fund GIC has led a 120 billion won (nearly $100 million) investment in the company. That transaction values RIDI at 1.6 trillion won (approximately $1.3 billion). The article does not provide additional detail on product specifics, operating metrics, or future plans. Ridibooks operates a digital bookstore (Ridibooks), an e-reader device (Ridipaper) and Ridistory, a platform for serialized novels and web comics. The company launched Ridistory in January in response to user demand for serialized content; its top-selling title “Under the Oak Tree” has reached one million views. Ridibooks reported $50 million in revenue last year and has more than 2.5 million users who have downloaded a total of 175 million e-books. Its stores host 784,000 titles from 2,000 publishers. The Korean e-book market is growing roughly 25–30% annually, driven in part by web comics. Ridibooks plans to use new capital to improve product user experience across its offerings. Ridibooks operates an e-book platform and digital content store serving readers in South Korea. The company says it was founded in 2009 and now has about 2 million users and more than 32 million e-book downloads. Ridibooks plans to use new capital to improve its user experience and to reach new customers. It highlights South Korea’s high mobile penetration and a national book market worth roughly $3.2 billion in annual revenue as growth opportunities. Digital books currently account for only three to five percent of that market, but the company expects the segment to expand about 30 percent over the next few years. Ridibooks positions itself as an IT- and software-centric competitor to bookstore chains Kyobo Books and Yes24 and benefits from e-book pricing (60–70% of print prices) relative to strict retail discounting rules faced by rivals.