South Korea-based drug discovery technology developer Standigm has secured $44.5m from investors including conglomerate SK Holdings and Kakao Ventures, the corporate venturing subsidiary of internet group Kakao.
SKS PE, the private equity arm of brokerage SK Securities, co-led the round with private equity firm Daishin Private Equity. It also featured financial services firm KDB Bank, Asset One, Atinum Investment, DSC Investment, InterVest, LB Investment and Wonik Investment Partners.
Standigm has built an artificial intelligence (AI), machine learning and data analytics-equipped software platform designed to help biotechnology researchers in the drug discovery process. It intends to launch an initial public offering on the Korea Exchange in later this year.
SK Holdings had provided $8.6m for Standigm in November 2019, eight months after an $11.5m series B round led by Mirae Asset Venture Investment, part of financial services firm Mirae Asset Capital, and backed by Kakao Ventures, Atinum Investment, DSC Investment, LB Investment and Wonik Investment Partners.
The company had previously secured $3m in a 2016 series A round in 2016 also featuring Kakao Ventures (then called K-Cube Ventures), in addition to Autism Investment and LB Investment.
