Contents Lab. Blue raises €7.4m
November 22, 2021
Contents Lab. Blue has raised KRW 10 billion (€7.4m) in Series A funding from Korea Investment Partners, Kona Venture Partners, We Ventures, Crit Ventures and Dae Gyeong Investment, following KRW 3 billion in pre-A investment from Kona Venture Partners last January. With this funding round, the Company has secured total investment of KRW 13 billion.
Contents Lab. Blue is a webtoon production company that makes ‘novel comics’ based on Internet novels, upcycles comic books into webtoons, develops Internet novels as a source for other media adaptations, and translates and localises popular webtoons for many different countries. The Company proactively built up a localisation platform, now of interest to Kakao Entertainment, which is working on global expansion by acquiring multilanguage translation companies, and Naver Webtoon, which has made an equity investment in Wattpad to secure global intellectual properties.
CEO Youngto Go commented: “The well-organised webtoon production process we have built so far is now bringing concrete achievements. With this additional funding, we will lay the foundation to promote Korean webtoons in the global market, which is a forerunner in the popularity of K-Content.”