AI specialist company Upstage (CEO Kim Seong-hun) announced on the 20th that it has secured a total of 62 billion won in Series B bridge investment from major domestic and foreign investors.
This investment was led by the Korea Development Bank, and included participation from existing and new investors, including global technology companies Amazon and AMD, as well as InterVest, KB Securities, Primer Investment, Shinhan Venture Investment, Mirae Asset Venture Investment, and Premier Partners.
With this investment, Upstage has raised approximately KRW 200 billion in cumulative investment, marking the largest investment round for a domestic AI software company. Notably, Amazon's participation stems from a strategic partnership. Upstage has selected AWS as its preferred cloud provider and plans to leverage AWS's AI infrastructure to enhance its own models and expand into global markets.
Upstage's core product line includes its proprietary frontier language model, "SOLAR," and document processing AI solutions. With this investment, Upstage plans to accelerate its technological advancement and global commercialization strategy. Furthermore, it plans to expand the availability of its models through the AWS-based cloud ecosystem, including the Amazon Bedrock Marketplace.
Since its founding in 2020, Upstage has secured large-scale funding, including seed investment, a KRW 31.6 billion Series A round in 2021, a Series B round in 2024, and this bridge investment, increasing its chances of becoming a unicorn company.
Kim Seong-hun, CEO of Upstage, said, “This investment means that Upstage has been recognized for its technological competitiveness in the global AI market, beyond the domestic market,” and added, “Based on our own technology, we will leap forward as a competitive K-AI company in the global market.”
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