Gov't to inject $380.6 mil. into Korean AI startup Upstage
4 Articles
4 Articles
The National Growth Fund will directly invest 560 billion won in the artificial intelligence (AI) company 'Upstage'. The Financial Services Commission announced on the 3rd that it approved a direct equity investment of 560 billion won in Upstage at the Fund Management Deliberation Committee meeting held on the 30th of last month. The structure involves the injection of 100 billion won from the Advanced Strategic Industries Fund, 30 billion won f…
Gov't to inject $380.6 mil. into Korean AI startup Upstage
Financial authorities said Sunday they approved a 560 billion-won ($380.6 million) investment in Upstage, a local artificial intelligence (AI) startup, marking the second direct investment by the Korea National Growth Fund. The decision was approved at a deliberation committee for the fund held Thursday, the Financial Services Commission (FSC) said. Founded in 2020, Upstage is a unicorn startup valued at over 1 trillion won and develops AI solut…
South Korea Injects $380M Into AI Unicorn Upstage Under Growth Fund
South Korea’s Financial Services Commission (FSC) has approved a 560 billion won (US$380.6 million) investment in AI startup Upstage, as reported by Yonhap News. The US$380.6 million Upstage funding marks the second direct equity injection by the Korea National Growth Fund. Founded in 2020, Upstage develops large language models and enterprise AI solutions. The startup holds unicorn status with a valuation exceeding 1 trillion won. It joins AI c…
[Digital Daily Reporter Oh Byung-hoon] The Financial Services Commission announced on the 3rd that it approved funding for a total of five projects, including a direct investment of 100 billion won from the Advanced Technology Fund into Upstage, a leading ‘Sovereign AI’ company, at the National Growth Fund Management Deliberation Committee meeting held on the 30th. Following the announcement of the first mega-projects focused on the semiconduct…
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