6 startups at Google Campus Seoul attract W3b investment in H1
[THE INVESTOR] Six Korean startups from Campus Seoul, the first Asian campus set up by US internet giant Google, have attracted investment worth 2.8 billion won (US$2.50 million) during the first half of this year, the company said on June 20.
The campus, which opened in May 2015 in the posh Gangnam district of southern Seoul, offers various facilities, from co-working spaces and accelerator programs to meeting rooms.
The six companies moved into the campus in January and the number of employees at the firms has jumped 30 percent during the cited period, Google said.
“A total of 22 startups have graduated from this program since the campus opened in 2015,” Cho Yoon-min, manager of Campus Seoul.
“The campus has attracted investments worth over 34.7 billion won and tripled the number of employees.”
One of the startups is virtual reality streaming provider Alcacruz, which has developed an innovative VR video streaming technology called Superstream LIVE.
“It is the first VR streaming solution able to stream live 6K VR video in 360 degrees, with less than a 10-second delay between the actual event and the user receiving the video,” Kang Seo-young, an engineer at the company, said.
The technology can stream the highest quality VR videos with the lowest data rate, Kang said. Alcacruz is currently in the final stages of live streaming 6K VR video worldwide.
The campus selects promising startups every six months and provides a workplace that can house up to eight people from each company.
By Song Seung-hyun and newswires (firstname.lastname@example.org)