YEATU Attracts VC Interest for Women and Fintech Funds

Y&Archer's A-STREAM participant aims to become a global artist partner

"What resonated with us wasn't just their approach to generating revenue through art, but their attempt to maximize artists' strengths. Despite being a cultural content company, they demonstrate a high understanding of finance and create revenue through various channels," explained Lee Sunmi , Director at Y&Archer, during the 8th A-STREAM event held at Jeju Haevichi Hotel on the 22nd. A-STREAM is an annual event organized by Y&Archer, an accelerator established in 2015, aimed at helping domestic and international startups build networks and secure investments. This year's event attracted approximately 800 attendees from VCs, accelerators, and startups.

YEATU, founded last year, is a platform supporting the growth of global artists. The company helps artists generate revenue by connecting them with global art projects and provides services that enable artists to receive investments through fractional investment methods. Through this system, artists can secure funding for their activities while investors can find new investment opportunities.

Y&Archer recently executed a seed investment in YEATU and plans to recommend the company for the Ministry of SMEs and Startups' TIPS program. Accelerators typically recommend their most promising portfolio companies for TIPS.

The company's strength lies in its comprehensive approach to all art forms. Unlike competitors who typically focus on specific areas such as paintings, performances, or films, YEATU targets all artistic domains. They create services for artists through various means, including investments, project connections, and network provision. The company's ultimate vision is to create a world where domestic and international artists receive proper recognition for their value.

"Korean artists are still undervalued in the global market," emphasized Everine Jo, CEO of YEATU, at the event. "Our goal is to create services that can revolutionize the art industry ecosystem."

Y&Archer recognized YEATU's growth potential early and proceeded with seed investment. They particularly noted the company's strong technological capabilities despite being a cultural content business. YEATU holds three patents, including one for "security token trading," based on their proprietary technology.

At the A-STREAM event, various investment firms showed interest in YEATU. Notable among them was Japan's Dentsu Ventures, scheduled for a business meeting on the 23rd. The meeting is expected to discuss YEATU's plans for establishing a Japanese branch.

Domestically, A Ventures, which recently formed its second women's fund, and Daily Partners, which recently established a fintech fund, are scheduled to meet with YEATU.

Investment firms operating cultural content funds are also expected to show interest, as YEATU's business model effectively combines technology and art. This aligns with the Ministry of Culture, Sports and Tourism's recent focus, which established a new "new technology" sector in this year's first regular investment project for investing in tech companies.

See Original Article>>>

https://www.thebell.co.kr/free/content/ArticleView.asp?key=202410221529415840108325