Anthill Ventures and SparkLabs Team Up to Provide Co-Investment Opportunities for Indian and Korean Startups

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– Anthill Ventures and SparkLabs form a strategic partnership to facilitate the growth of Indian and Korean startups in various sectors, including Healthcare, Urban Tech, Media Tech, and Urban Lifestyle.

– This collaboration provides co-investment opportunities and market access to both Indian and Korean startups. Additionally, Indian Family Offices and Corporate Venture Capital get the chance to access a global portfolio that can scale up in India.

India, 16th February 2023: Anthill Ventures, the premier start-up accelerator fund and growth ecosystem, and SparkLabs, a renowned global network of startup accelerators and venture capital funds, announced today a strategic partnership to enhance the growth of Korean and Indian startups. With this partnership, both companies aim to bring together co-investment opportunities along with world-class mentorship, resources, and business expansion opportunities for technology-based startups from India and Korea in the Health care, Urban Tech, Media tech, and Urban Lifestyle fields.

SparkLabs has demonstrated its strengths over the past 10 years by hosting demo days and executing differentiated investment strategies. Basis its market experience and research, SparkLabs will analyze the barriers for Indian startups in the Korea market. On the other hand, Anthill with its vast network of corporates and investors in India will be the gateway for Korean startups to the Indian market. The startups from both countries will receive a host of benefits such as growth funds and a global VC network, effective marketing and sales strategies designed for the startup ecosystem, and localization of strategies to support implementation of location-specific strategies through evaluating relevant partnerships with leading corporations from Korea. Additionally, the program will provide opportunities to create value through partnerships with ecosystem enablers like sales distributors, white labeling, joint ventures, research firms, and merger & acquisition firms.

India-Korea Bilateral trade reached a record high of USD 25.8 billion in 2022, despite the global slowdown in economic growth. The partnership between Anthill and SparkLabs offers a unique opportunity for startups, combining SparkLabs’ extensive network and support from Anthill’s proven accelerator programs. Startups will be equipped with the necessary tools to succeed and make a lasting impact in their industries. We’re thrilled to offer this support and help bring the next generation of successful startups to the forefront.

Jimmy Kim and John Park, Partners at SparkLabs, said “The startup landscape in India has seen unprecedented growth, with a staggering 15,400% increase in just 6 years. This explosion of entrepreneurship has spread across 56 diverse sectors, with 4,500 startups making a mark in cutting-edge technology such as IoT, robotics, AI, and analytics. Our eagerness to collaborate with Anthill is driven by their mission to support startups in their journey to growth and scaling. Their values align with our goals, and we are excited to be a part of their continued success in fostering a thriving startup ecosystem in India.”

“Excited to partner with SparkLabs and bring our strengths together to help entrepreneurs thrive,” said Prasad Vanga, CEO of Anthill Ventures. “Seoul boasts a $39B startup ecosystem, ranked in the top 20 cities globally. Now, South Korea aims to expand its startup presence with cities like Busan and Daejeon as future hubs. With SparkLabs’ global network and our focus on growth, this partnership offers unmatched support for tech entrepreneurs in a country with a thriving startup scene, huge market potential, skilled workforce, and favorable government policies.” 

In 2021, Korean startups raised a record-breaking $6.4B in venture investment, a 78% YoY growth, with 56% of total investments coming from Seoul, reaching a high of $3.5B. Korea is a leader in AI & Big Data ($1.15B raised) and Life Sciences ($2B invested), and has a strong manufacturing presence with 18 unicorns, including 7 new ones. The Seoul Metropolitan Government established Invest Seoul to attract $30B in foreign investment by 2030, while the government’s $160M budget for robot-related R&D and talent development saw a 29% increase in 2021.

India’s tech sector is thriving, with companies like TCS, WIPRO, HCL, and Infosys expanding into South Korea to meet the increasing demand for IT services and leverage a favorable business environment. These firms offer top-notch software development, digital transformation, and data analytics solutions. South Korean investments in India are creating job opportunities and driving economic growth in electronics, automobiles, steel, and shipbuilding, alongside established players such as Samsung, Hyundai, Posco, and Hyundai Heavy Industries, and top tech firms including LG, SK Telecom, and Hyundai Motors. The Indian government fully supports this expansion to boost bilateral trade and investment.