Accelerator Future Play raises W10B for expansion

Future Play, a South Korea-based accelerator, said on Tuesday that it has raised 10 billion won ($8.9 million) in the latest funding for its business expansion.

Its Series B funding drew investment from LG International, DB Financial Investment, Prophet Asset Management, Futura, Data Solution and Hashed, said the company’s CEO and founder Ryu Jung-hee.

The company plans to enter Indonesia later this month and introduce FuturePlace.AI, an online platform to provide tailor-made resources for startups and individuals within the second half next year, the CEO said.

Founded in 2013, Future Play has invested 44 billion won ($39.34 million) in 157 companies in and out of the country as of March. Some 20 percent of its investment went to startups overseas.

By Park Ga-young (gypark@heraldcorp.com)