Akara Korea (CEO Kim Hyun-chul), a company specializing in IoT device solutions, has succeeded in attracting 25 billion won in investment from major domestic companies such as SK D&D and KOC Partners and institutional investors.

Akara Korea announced on the 30th that it has completed the Series A investment round with a total of 25.6 billion won in recognition of its corporate value of 100 billion won.

A number of institutional investors, including SK D&D, KOC Partners, Korea Design, Saltux Ventures, and Capstone Partners, participated in the investment.

Akara Korea succeeded in attracting investment by increasing its corporate value to 100 billion won in more than three years after its start-up, amid high prices, interest rate hikes and the economic downturn. An official from Akara Korea explained, “The company’s growth potential has been greatly recognized even in the recent freeze in investment in start-ups.”

Akara Korea is a joint venture with Akara LLC, a global IoT company in New York, USA, and was established by CEO Kim Hyun-chul in November 2019. CEO Kim is a serial entrepreneur who founded and listed MDS Technology (currently MDS Tech), a leading embedded software company in Korea.

Akara Korea is a home Internet of Things (IoT) company that has a variety of products such as smart hubs, sensors, controllers, lighting, and door locks. It continued to expand sales of smart home devices with LG U+, a major customer, and exceeded 10 billion won in sales in 2021. This year, it is expected to grow more than 70% compared to the previous year.

Akara Korea won the world’s top three design awards, IF, Red Dot, and IDEA, recognizing its excellent design and holding low-power patents. Akara Korea’s products are officially located in Apple stores in nine countries, including Korea, in recognition of their technology, such as linking them with Apple Home Kit, Apple’s smart home standard. It has secured global supply and distribution networks in IoT fields, including Apple stores.