Upstage, a Yongin, South Korea-based artificial intelligence (AI) tech startup, raised $27.3 million (31.6 billion won) in Series A financing from top investors including Company K Partners and SoftBank Ventures.
Other investors include TBT Partners, Premier Partners, Stonebridge Ventures, and Primer Sazze Fund.
Upstage plans to use investment funds to accelerate the development of AI Pack and hire a talented workforce. It also plans to offer jobs to over 200 AI developers at home and abroad by 2022.
Company: Upstage AI
Round: Series A
Funding Month: September 2021
Lead Investors: Company K Partners and SoftBank Ventures
Additional Investors: TBT Partners, Premier Partners, Stonebridge Ventures, and Primer Sazze Fund
Company Website: https://www.upstage.ai/
Software Category: Development AI integrated solutions
About the Company: Upstage was founded in October last year by Kim Sung-hoon, professor at the Hong Kong University of Science and Technology and former AI leader at Naver CLOVA, Lee Hwal-suk, former OCR Visual leader at Naver CLOVA, and Park Eun-Jeong, former Papago translation modeling leader. Upstage AI is an artificial intelligence (AI) startup that helps companies focus on their core businesses. Upstage was recognized for its technical skills and potential on its under-development AI integrated solution AI Pack that enhances corporations’ core business. Over the past year, Upstage has received inquiries on AI adoption from over 100 companies. The startup raised 8.8 billion won in revenue in just 8 months after inception.