AI data platform SelectStar raised a KRW 4 billion from KDB
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South Korean AI data platform SelectStar has secured a ₩4 billion investment in a Series A round from KDB Industrial Bank.
SelectStar had previously raised KRW 9 billion in 2022 and KRW 4 billion in 2020. With this recent investment, the company’s total accumulated funding amounts to KRW 17.4 billion. Major investors include Kakao Ventures, Kolon Investment, Company K Partners, CJ Investment, and Now IB Capital.
This investment will pave the way for SelectStar to proceed with its listing on the KOSDAQ stock exchange. In June, the company selected Daishin Securities as its lead underwriter for its initial public offering (IPO) and established an IPO roadmap. Through a special listing for technology evaluations, SelectStar plans to complete the listing process by 2025.
SelectStar is a company that provides AI-enhancing training data. It plans, collects, and processes customized training data for each company’s AI through its platform. Since its founding in November 2018, over 230 companies have used SelectStar to build AI training data, accumulating a dataset of approximately 150 million records.
A company representative explained that the company’s strengths lie in utilizing technology, including an open-source model-based semi-automatic data processing, AI-based data synthesis, and proprietary dataset analysis solutions, to enhance data quality and competitiveness in pricing. Kim Se-yeop, the CEO of SelectStar, also delivered a keynote speech at the “AI Talk with Andrew Ng,” a public lecture held during Andrew Ng’s visit to Korea in July, one of the world’s four leading AI scholars.
CEO Kim Se-yeop stated, “As artificial intelligence performs increasingly complex and crucial tasks in various industries, the fine-tuning of AI models through tailored data will become essential.” He expressed confidence that “through this investment, we will strengthen our technological capabilities and achieve a successful IPO.”
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