Total technology industry venture financing deals worth $360.3m were announced in Republic of Korea (South Korea) in May 2021, led by $175m venture financing of Riiid, according to GlobalData’s deals database.

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The value marked an increase of 157.9% over the previous month of $139.7m and a rise of 151.7% when compared with the last 12-month average of $143.15m.

Republic of Korea (South Korea) held a 1.78% share of the global technology industry venture financing deal value that totalled $20.25bn in May 2021.

In terms of venture financing deal activity, Republic of Korea (South Korea) recorded 32 deals during May 2021, marking a flat growth over the previous month and a drop of 8.57% over the 12-month average.

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By GlobalData

Republic of Korea (South Korea) technology industry venture financing deals in May 2021: Top deals

The top five technology industry venture financing deals accounted for 71.8% of the overall value during May 2021.

The combined value of the top five technology venture financing deals stood at $258.55m, against the overall value of $360.3m recorded for the month.

The top five technology industry venture financing deals of May 2021 tracked by GlobalData were:

1) SoftBank Vision Fund II’s $175m venture financing of Riiid

2) The $37m venture financing of Teamblind by Cisco Investments, DCM Ventures, Main Street Investments, Pavilion Capital and Storm Ventures

3) Atinum Investment, KB Investment, Korea Investment Partners, LB Investment, MORU Asset Management and Soo Investment Capital’s $20m venture financing of Skylabs

4) The $13.35m venture financing of Logispot Co by Duzon Biz-on and Korea Development Bank

5) Dunamu & Partners, Korea Development Bank and Smilegate Investment’s venture financing of QRAFT Technologies for $13.2m.