SqueezeBits, a Seoul, South Korea-based AI lightweight technology startup, has secured KRW 2.5 billion in a pre-series A funding round.
SaaS Investors
Investors include Kakao Ventures, Samsung Next, POSCO CAPITAL, and POSTECH Holdings.
Kakao Ventures is a venture capital firm based in Seongnam-si, South Korea. Founded in 2012, the firm seeks to invest in seed, early-stage to growth-stage tech-enabled startups. The firm prefers to invest in advanced technology, deep tech, mobile, service, and gaming business sectors.
Founded in 2013, Samsung NEXT is an investment group focused on founders pursuing the imagined and impossible. The firm seeks to invest in companies operating in artificial intelligence, fintech, blockchain, health technology, infrastructure, and media technology sectors.
Posco Capital is a corporate venture capital arm of Posco based in Seoul, South Korea. The firm prefers to invest in technology and software sector companies.
Founded in 2012, POSTECH Holdings is an accelerator headquartered in Pohang, South Korea. The firm seeks to invest in the biotechnology, information technology, and other technology sectors.
SqueezeBits Use of Funds
The company aims to use the funding to solidify its position in lightweight technology and expand its presence in the international market.
About SqueezeBits
SqueezeBits is building an ecosystem for designing, training, and deploying highly compressed Neural Networks. The company focuses on developing AI lightweight technology to optimize AI service usage by reducing memory and computational requirements during AI model inference. The technology can quantize 32-bit data to 4 bits or less while maintaining model performance, offering faster and lighter AI models. The company has also launched the OwLite toolkit, making it easier for users to apply and analyze AI models.
Funding Details
Company: SqueezeBits, Inc.
Raised: KRW 2.5B
Round: Pre-Series A
Funding Month: January 2024
Investors: Kakao Ventures, Samsung Next, POSCO CAPITAL, and POSTECH Holdings
Company Website: https://www.squeezebits.com/
Software Category: AI Compression
Source: https://wowtale.net/2024/01/23/70077/