Accelerator RedElec, which specializes in semiconductors, batteries, and displays, said on Thursday that it has formed its first venture investment association worth 2.5 billion won.
The association, called RedElec Battery First Investment Association, will become the initial investor of promising startups in the battery sector working on materials, components, and equipment.
“With the formation of our first fund, we are delighted to be able to contribute to the growth of domestic battery startups,” RedElec CEO JY Han said. “We plan to initiate various fostering programs so that South Korea’s component ecosystem can continue to post solid growth moving forward.”
RedElec is a subsidiary of electronics and component media TheElec. It was founded in September 2020 and was registered as an accelerator by the Ministry of SMEs and Startups in February of last year.
Its investment portfolio includes companies specializing in:
-Remplir __ lithium iron phosphate (LFP) battery recipe
-Sejongpia __ sound tracing chip for application in metaverse headsets
-Memray __ PRAM controller
-CGP Materials __ photoresist for semiconductors
-Naieel Technology __ boron nitride nanotubes (BNNT), with high thermal and ion conductivity
-Raisontech __ electromagnetic stylus solution
-Startuprecipe __ subscription-based startup media