SparkLabs Global Ventures participated in funding rounds of $420,000 for Code Kingdoms, which is based in the UK, and $600,000 for Seoul’s MangoPlate. The latter includes capital from the South Korean government’s matching program for startups.
MangoPlate, on the other hand, is an app that delivers customized recommendations for diners from among 200,000 restaurants in Korea. Its algorithm is designed to take into account each user’s food preferences, personal profile, as well as the profiles of people in his or her social networks. MangoPlate, which also counts SoftBank Ventures as an investor, is among several apps that are leveraging Seoul’s booming restaurant industry. These also include food-delivery apps Baedal Minjok, which recently raised $36 million from Goldman Sachs, and Yogiyo.
In addition to its investments, SparkLabs Global also said that it has added Maurice Werdegarsas, the CEO of venture debt firm Western Technology, as an advisor. Western Technology has given more than $3 billion growth capital to companies including Facebook, Google, and Youku.com.