Huuuge, Inc. announced that it has issued 1,380,000 series B preferred stock at a price of $3.33 per share for gross proceeds of $4,595,400 on August 4, 2016. The series B round of funding led by new investor, Woori Technology Investment Co. Ltd. (KOSDAQ:A041190).

The transaction included participation from four investors including Seoul Investment Partners Co., Ltd., and Kiwoom Investment Co., Ltd. The shares will be convertible into common shares at a fixed conversion price of $3.33 per share. The round was raised at a post-money valuation of $11,255,400. The company issued securities pursuant to exemption provided under Regulation D.