- Cumulative funding reaches approximately $42.6 million since inception, solidifying Nota
AI's position as Korea's leading on-device AI innovator
- IPO preparations for 2025 are underway with strong backing
from lead underwriter
- Participation from global AI semiconductor CVC and major AI
semiconductor company as strategic investors
SEOUL, South Korea,
June 18, 2024 /PRNewswire/ -- Nota
AI, a leading South Korean startup specializing in AI optimization
and lightweighting technology, has successfully raised
$19.9 million (25.8 billion KRW) in its Series C funding round.
This brings the total investment raised since its founding to
approximately $42.6 million
(53.2 billion KRW). The round 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.
Founded in 2015, Nota AI specializes in edge and on-device
generative AI technology. Early recognition of its potential came
with initial investments from Naver D2SF. Since then, Nota AI has
rapidly expanded its customer base both domestically and
internationally, securing continuous investments from Stonebridge
Ventures and LB Investment.
Leveraging this new funding, Nota AI plans to actively recruit
top AI optimization talent and enhance collaborations with global
AI semiconductor companies to expand its business. Nota AI is
already engaged in significant contracts to provide generative AI
optimization technology to leading AI semiconductor firms.
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.
Nota AI intends to file for an IPO early next year,
with Mirae Asset Securities as the lead underwriter,
indicating strong preparation for a stable listing. Mirae Asset
Securities, participating in this investment round, has expressed
high expectations for Nota AI's successful IPO.
Myungsu Chae, CEO of Nota AI, stated, "Our sales for the first
half of this year are expected to exceed the total sales of 2023,
and we anticipate a 300% increase in sales for 2024 compared to the
previous year. With this investment, we will actively pursue
strategic collaborations with partners and expand our overseas
business to establish ourselves as a global leader in on-device
AI."
Jae Won Do, Director at STIC Ventures, who led this investment
round, commented, "Nota AI is evaluated as a company that can
popularize evolving and sophisticated AI models across various
devices. We expect that, alongside big tech companies like NVIDIA
and ARM, Nota AI will play a key role in the spread of on-device
AI."
Nota AI's platform, 'NetsPresso,' optimizes AI models for device
compatibility, allowing AI models to run directly on the device.
Nota AI has established official partnerships with global tech
companies such as NVIDIA, ARM, Intel, STMicroelectronics, and
Renesas, maintaining close collaborations.
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