Nota AI, a Seoul, South Korea-based startup specializing in AI optimization and lightweighting technology, raised $19.9m in Series C funding round.
The round, which brings the total investment raised since its founding to approximately $42.6 million (53.2 billion KRW), was led by STIC Ventures and LB Investment, with new investments from STIC Ventures, Korea Development Bank, and Mirae Asset Securities. Existing investors Stonebridge Ventures, LB Investment, InterVest, and DS Investment Partners also contributed additional funds, alongside a key AI semiconductor CVC participating as a strategic investor.
The company intends to use the funds to actively recruit AI optimization talent and enhance collaborations with global AI semiconductor companies to expand its business.
Founded in 2015, and led by Myungsu Chae, CEO, Nota AI specializes in edge and on-device generative AI technology. Its platform, ‘NetsPresso,’ optimizes AI models for device compatibility, allowing them to run directly on the device. The company has established official partnerships with global tech companies such as NVIDIA, ARM, Intel, STMicroelectronics, and Renesas, maintaining close collaborations.
Looking ahead, Nota AI aims to extend its high-performance generative AI model optimization technology to various industries such as robotics and mobility, allowing broader applications of generative AI in daily life. Additionally, Nota AI plans to strengthen AI optimization technology collaborations with strategic investors targeting AI semiconductors.
The company intends to file for an IPO early next year, with Mirae Asset Securities as the lead underwriter.
FinSMEs
18/06/2024