AIMMO, a Korean startup that built an AI data annotation platform enabling the data labeling faster for enterprises, announced today that it has raised $12 million in a Series A round to advance its data labeling technology and spur global expansions.
Seven venture capital firms participated in the latest round: DS Asset Management, Industrial Bank of Korea, Hanwha Investment & Securities, S&S Investment, Toss investment, Korea Asset Investment & Securities, and Venture Field. AIMMO declined to comment on its valuation.
Company: AIMMO Co., Ltd.
Raised: $12.0M
Round: Series A
Funding Month: January 2022
Lead Investors:
Additional Investors: Seven venture capital firms, DS Asset Management, Industrial Bank of Korea, Hanwha Investment & Securities, S&S Investment, Toss investment, Korea Asset Investment & Securities and Venture Field
Company Website: https://en.aimmo.ai/
Software Category: AI data annotation platform
About the Company: Founded in 2016 by chief executive officer SeungTaek Oh, the startup has three data annotation tools: AIMMO DaaS, which manages sensor fusion data for autonomous vehicle corporations; AIMMO GtaaS, a turnkey-based platform for big data; and AIMMO Enterprises, launched in 2020, a web-based SaaS annotation labeling tool using cloud architecture. AIMMO creates a large volume of training data accurately and quickly so that more industries and enterprises can utilize AI. AIMMO works with an array of companies, including carmaker Hyundai Motor, car parts developer Hyundai Mobis, car-hailing startup Kakao Mobility, car-sharing startup SoCar and autonomous cargo developer ThoreDrive. AIMMO also works with non-autonomous vehicle companies in robotics, optical character recognition (OCR), smart factory, intelligent surveillance, e-commerce, and logistics industries, like telco corporation SK Telecom, internet giants Naver and
Kakao and Japanese Komatsu. Today, the startup has 200 employees across the globe and more than 10,000 data labelers. The Korea-headquartered startup has offices in the U.K, the U.S., Japan, and Vietnam.
Source: https://techcrunch.com/2022/01/02/aimmo-grabs-12m-series-a-to-advance-data-labeling-technology/