A Korean Startup Funds $72 Million to Create Tailored Large Language Models

A Korean Startup Funds $72 Million to Create Tailored Large Language Models

Upstage AI, a South Korean firm, has secured $72 million in series B funding to create massive language models that can be tailored for businesses.

Upstage, which was founded in October 2020, creates unique huge language models and collaborates with companies to customize AI models for particular industries. Industrial use cases are powered by its flagship Solar LLM model.

Leading the financing alongside SK Networks and Hana Ventures was Korean telecom company KT. Joining current investors SBVA (formerly SoftBank Ventures Asia), Premier Partners, and Primer Sazze were Mirae Asset Venture Investment and IBK Securities.

With this round, Upstage has raised over $100 million in total funding. According to the firm, Upstage is now the most-funded AI software company in South Korean history as a result of this most recent investment.

With the money, Upstage plans to expand its presence in the United States by opening a new office in San Jose, California, and quicken the development of its AI models.

“We’re thrilled to extend our strong success in South Korea to a global audience,” said Sung Kim, Upstage’s CEO and co-founder. “This funding will help us build the world’s best generative AI model and deliver the ultimate ‘artificial general intelligence for work’ solution to businesses worldwide.”

The Solar LLM for the startup can operate via cloud-based APIs like Amazon SageMaker JumpStart or on-premises.

Businesses can work with Upstage to design custom models because, as the business says, it can build systems “irrespective of the setting. “

According to the company website, Upstage is presently working on creating AI agents tailored to particular industries using their Solar LLM, such as the legal, financial, and health care sectors.

Additionally, the business has developed a platform for enterprise data analysis. Tables and reports can have pertinent data extracted by Document AI, which can then export insights to databases. Among the businesses utilizing Document AI are Upstage listed Samsung and Hanwha.