Financial news reports, company disclosures

Upstage Secures 100 Billion Won, Becomes South Korea's Top-Funded AI Firm

Apr 16, 2024, 01:43 AM

South Korean AI startup Upstage has successfully raised 100 billion won ($72 million) in a Series B funding round, bringing its total funding to $100 million since its inception in October 2020. The investment, which includes contributions from SK Networks and SBVA (formerly SoftBank Ventures Asia), is aimed at supporting Upstage's expansion efforts in the US, Japan, and Southeast Asia. This funding milestone makes Upstage the most-funded AI software company in South Korean history. The company plans to use the funds to make purpose-trained Large Language Models (LLMs) more accessible globally.