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How globalization has enabled cross-border funding

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Reference no: EM132373434

Kim Bong-jin, the founder of South Korea's biggest food-delivery app, is betting that autonomous gadgets the size of a small cooler will help his Baedal Minjok delivery service keep a grip on a market swarming with new entrants. The goal is to cut costs, reduce delivery-related accidents and cope with a labour shortage in one of the world's fastest-aging nations.

This isn't just an experiment for Kim, 42. His Dilly robots will start deliveries within three years.

Woowa Brothers Corp, the company behind Baedal Minjok, raised US$320mil from Hillhouse Capital, Sequoia Capital and GIC in December to help develop a prototype that's set to roll out later this year. The goal is to tap into a global service robotics market projected to almost triple to US$29.8bil by 2023, according to Markets and Markets Research Private Ltd.

Question:

Kim Bong-jin, raised the capital for his venture from multiple sources including from overseas.

Examine how globalization has enabled cross-border funding.

Reference no: EM132373434

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