Upstage Pursues Second Series C Round, Nvidia Set to Invest
TECHWORLD ·
✦ AI Summary
Upstage disclosed on the 9th that it is in the process of a second Series C funding round.
Nvidia is expected to participate in Upstage's second Series C investment.
Upstage plans to use the funds secured in the second funding round to advance its in-house AI models, hire talent and expand its overseas business.
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Upstage disclosed on the 9th that it is in the process of a second Series C funding round. Upstage completed the first Series C investment in April, worth KRW 180 billion. At the time of the first Series C round, the company was valued at more than KRW 1 trillion and was listed as a unicorn company.
Nvidia is expected to participate in Upstage's second Series C investment. Once this investment is completed, Upstage's investors will include Amazon, AMD and Nvidia.
Upstage plans to use the funds secured in the second funding round to advance its in-house AI models, hire talent and expand its overseas business. Its main investment target is its own large language model (LLM), Solar.
Upstage plans to focus on improving performance and boosting cost efficiency around Solar Pro 4 and Solar Mini 4. It also plans to expand the scope of real-world service applications.
In line with its strategy to strengthen overseas business, Upstage plans to expand its customer base in existing markets such as the United States and Japan. To that end, it plans to expand its local business teams and increase its local technical workforce.
Upstage sees rising usage of Solar Pro 4 on OpenRouter and rising usage of Solar Mini 4 on OpenRouter as the basis for its overseas expansion. It is also pursuing a strategy to expand the supply of its in-house AI models in the global market, based on its model development experience and business experience secured in Korea.
Kim Sung-hoon, CEO of Upstage, said he was pleased to welcome Nvidia as a new investor. Kim also said the company will use the investment to strengthen the competitiveness of its in-house AI models and expand its business in global markets.
Source: TECHWORLD · Kim Seung-gi
Original: https://www.epnc.co.kr/news/articleView.html?idxno=409480
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Source: TECHWORLD
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