Korean student-led startup Class101 fetches W12b round investment
Class101, South Korea’s hobby-based social networking platform operator startup, announced on April 11 that it has received a 12 billion won ($10.53 million) series A round investment.
The investors are led by Seoul-based early-stage venture capital firm SoftBank Ventures Asia. Mirae Asset Venture Investment, KT Investment, Naver affiliate Spring Camp and California-based Strong Ventures also joined the round.
Class101 was founded in 2015 by Ko Ji-yeon, an undergraduate student at Ulsan National Institute of Science and Technology. Ko is currently a senior in the college of Design and Human Engineering.
Class101 received 550 million won seed investment from Spring Camp in June 2018.
Online users of Class101 can subscribe to a “class” to share hobbies with other users and hone related skills. It provides classes for various hobbies from illustration, calligraphy and handicrafts to cooking.
“Class101’s service resonates with those in their 20s and 30s who aspire to strike a work-life balance and be productive in spending their free time,” said Jay Choi, senior associate at SoftBank Ventures Asia. “Also, we are betting big on (Class101’s) capabilities in content production and platform development.”
By Son Ji-hyoung (firstname.lastname@example.org)