On April 16, 2024, the South Korean AI startup focused on large language models (LLMs) and document AI Upstage announced that it had raised $72 million in Series B funding. Investors in this round include SK Networks, KT, Korea Development Bank, Shinhan Venture Investment, Hana Ventures, Mirae Asset Venture Investment, Industrial Bank of Korea, SBVA (formerly SoftBank Ventures Asia), Primer Sazze Partners, Company K Partners, and Premier Partners, among others.
Founded in October 2020, Upstage helps customers improve work efficiency through its industry-leading document processing engine and large language models (LLMs). The company says its flagship product, Solar LLM, can deliver GPT-4-level performance, and it also provides a document AI solution that uses AI-driven OCR (optical character recognition) technology to automate workflows and process unstructured data. Upstage has now raised more than$100 million, making it the AI software company with the most funding in South Korean history.
(Source:PR Newswire）