Akros Technologies, a Seoul, South Korea-based fintech firm that provides an AI-driven asset management software platform, raised $2.3 million in funding, bringing Akros’s total amount raised to $6.1 million since its 2021 inception.
The investment was from Z Venture Capital, the corporate venture capital wholly owned by Z Holdings, which also owns the Japanese messaging app Line and internet portal Yahoo Japan.
This funding will help Akros to scale its software platform and asset management products and ramp up its users, including local and global financial institutions and fintech companies.
Akros plans to continuously enhance its engineering technology by bolstering its business to disrupt the asset management market and attract new partners across the globe, including Japan, Singapore, and the U.S., Kyle Moon, co-founder and CEO of Akros Technologies, said in a statement.
Its AI-powered product is called portfolio management as a service, or PMaaS, an all-in-one operating system for portfolio management.
Akros uses a generative AI model based on a decision transformer, which predicts future actions through the sequencing model, to build a variety of investment strategies that lower the cost of portfolio modeling and produce a number of investment portfolios.
The company also uses GPT-3 natural language processing (NLP) to analyze unstructured language data.
Company: Akros Technologies, Inc.
Funding Month: December 2022
Lead Investors: Z Venture Capital
Company Website: https://www.akrostec.com/
Software Category: Asset Management Software
About the Company: Founded by Kyle Moon, Jin Chung, and Justin Gim, Akros Technologies is an AI fintech startup that develops data-driven financial technologies with the mission to become the first globally scalable quantitative investment firm in Asia. Akros offers an AI-powered product called portfolio management as a service, or PMaaS, an all-in-one operating system for portfolio management that enables B2B clients such as financial institutions, fintech startups, and robot advisors to launch their own exchange-traded funds (ETFs) without having to set up ETF teams and infrastructure. The startup has developed its own data infrastructure and distributed computing environment that processes over 10TB+ point-in-time data dating from 1910 and trains AI models at a level comparable to global quantitative hedge funds. Akros wants to disrupt the current asset management industry via its AI-driven asset management software platform that mines market data for stocks.