Skip to content
Information Technology

SoftBank Ventures Asia Invests in Habitus Associates Co., LTD., Leading the Digital Transition of the Art Industry

Habitus Associates Co., LTD 3 mins read

SEOUL, SOUTH KOREA / ACCESSWIRE / September 17, 2023 / Habitus Associates Co., LTD., the entity behind the online art platform 'Artue' and under the leadership of Bo Young SONG, has secured a seed investment of 4 billion won. This investment round was led by SoftBank Ventures Asia with several angel investors also taking part.

Artue_Logo
Artue_Logo

Artue, powered by Habitus Associates Co., LTD, is pioneering the art industry's digital transformation. The platform is revolutionizing the traditionally offline, high-barrier art brokerage, providing emerging artists with market entry opportunities and reducing purchasing barriers for collectors.

A notable feature of Artue is its digital twin technology, enabling a virtual experience that mirrors physical art spaces. With the integration of online transactional capabilities, Artue is also enhancing its digital Catalogue Raisonné service and introducing resale functionalities.

The team at Habitus Associates Co., LTD. comprises industry veterans from influential corporations like Naver, Kakao, Credit-Suisse, LG, Hyundai Motor Group, Kukje Gallery, and Korea Arts Management Service. The advisory board includes Eugene Whang, with two decades at Apple; Alan Lau, previously of Tencent and now with Animoca Brands; Changwook Kim of Naver; and Federico Tan, a communications specialist with clients including Sacai and Takashi Murakami.

With the new funds, the company intends to further develop and hone Artue's offerings, boost its technical capabilities, and expand its reach. Strategic talent acquisition and international artist promotion are also on the agenda, along with securing additional intellectual properties to diversify Artue's portfolio.

In 2022, the global art market was valued at an impressive 80 trillion won, with projections indicating continued growth driven by an increase in affluent individuals and the expanding digital landscape. Remarkably, South Korea's art market achieved over 1 trillion won in sales during the challenging pandemic year. Estimates for 2022 show potential growth to 1.377 trillion won. With Seoul witnessing a surge in global galleries and auction houses, South Korea is positioning itself as a significant player in the art market alongside giants like the US, UK, China, and Japan.

Bo Young SONG, co-founder of Habitus Associates Co., LTD., has served as a member of the Selection Committee member of Art Basel Hong Kong for a decade and as the first Asian partner and the regional CEO of renowned European art publisher Cahiers d'Art. She stated, "Artue is our response to the digital era. Beyond traditional art experiences, our platform aims to expedite and enhance the journey of gallerists, artists, and collectors."

JP Lee, CEO of SoftBank Ventures Asia, added, "Habitus Associates Co., LTD. seamlessly integrates art with IT, revolutionizing the traditional art market. We will actively support the continued growth of Artue and, furthermore, the digital transition of the art market."

Contact Information

Ines On Sim
Communications Manager
ines@artue.io
+82-10-6298-5999

Related Files

About SoftBank Ventures Asia & Habitus Associates.docx

SOURCE: Habitus Associates Co., LTD

.


View source version on accesswire.com:
https://www.accesswire.com/784622/softbank-ventures-asia-invests-in-habitus-associates-co-ltd-leading-the-digital-transition-of-the-art-industry

More from this category

  • Animal Animal WelfareRights, Information Technology
  • 25/06/2024
  • 07:00
UNSW Sydney

Conservation scientists use AI to count flamingos

Counting half a million flamingos using machine learning helps establish the significant conservation importance of the Makgadikgadi Pans in Botswana. Scientists from UNSW Sydney’s Centre for Ecosystem Science have found a way to use artificial intelligence to accurately count hundreds of thousands of flamingos in Botswana, making future surveying of numbers of this iconic species – and potentially other bird and mammal species – much easier. Published recently in the journal Global Ecology and Conservation, the research team estimated there were 532,197 flamingos on the northern basin of Sua Pan, the eastern pan in the Makgadikgadi Pans in Botswana, using…

  • Information Technology, Insurance
  • 24/06/2024
  • 09:00
Qikio

Qikio partners with Mercurien to expand commercial car insurance offerings?

Qikio, an insurtech dedicated to providing cutting-edge insurance solutions, is excited to announce a strategic underwriting partnership with Mercurien, an Australian company with a…

  • Contains:
  • Information Technology
  • 19/06/2024
  • 16:33
Gigamon

Gigamon Research Reveals Global Security Leaders are Losing Ground in the Race Against Cybercrime as Undetected Breaches Rise By 20 Percent

New research shows 1 in 3 organisations were unable to detect a breach in the last 12 months, with just 25 percent able to respond in real time Gigamon, a leader in deep observability, today published its 2024 Hybrid Cloud Security Survey, revealing that organisations around the world are still unprepared for modern, sophisticated cyberthreats. The annual survey of over 1,000 Security and IT leaders across Australia, France, Germany, Singapore, UK and the USA, shows a decline in detection and response capabilities year-on-year compared to the company’s 2023 Hybrid Cloud Security Report. As hybrid cloud environments grow in complexity and…

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.