Muhayu Secures 15 Billion KRW Pre-IPO Investment for Expansion and Research
The South Korean artificial intelligence (AI) company Muhayu, which operates “Copy Killer” based in Korea, has successfully secured a 15 billion KRW investment in a pre-IPO round, marking its first external investment since its establishment in July 2011. The investors include DSC Investment, Devsisters Ventures, and Stick Ventures. This funding sets the stage for Muhayu’s planned KOSDAQ listing by 2025.
Muhayu specializes in developing business automation solutions using AI technology and offers them in the form of Software as a Service (SaaS). Their flagship service, “Copy Killer,” calculates the likelihood of plagiarism in academic papers by analyzing data from over 10 billion sources, including papers and online content. Currently, nine out of ten 4-year universities in South Korea utilize the Copy Killer service.
In response to the growing trend of generative AI, Muhayu quickly incorporated this technology and introduced “GPT Killer” in June. It is the first Korean DetectGPT solution that can identify sentences generated by AI with over 95% accuracy, setting it apart by providing support for the Korean language, unlike other DetectGPT models.
Muhayu has expanded its business scope from document analysis to the recruitment market, integrating GPT Killer into services like “Prism,” which assesses job applicants’ self-introductions and documents. In April of the previous year, they introduced the conversational AI interview service “Monster.”
With this new investment, Muhayu intends to enhance its AI technology to facilitate entry into the Chinese market. In June 2020, Muhayu launched “Copy Monitor,” a Japanese-only plagiarism detection service, which is now used by over 50 Japanese universities.
Muhayu plans to allocate the investment towards research and development (R&D) to create “Evaluation Automation Services.” This will address the challenges that professors and HR personnel may face when evaluating content generated by generative AI, including evaluating specificity of expression, linguistic expressiveness, and validity testing.
Dongho Shin, the CEO of Muhayu, shared his vision for the future, stating, “Building upon this investment, we are committed to pursuing a KOSDAQ listing by 2025 and leveraging our technology and services to make work easier, aligning with our core customer value. As generative AI becomes more prevalent, we are determined to address the challenges it brings.”
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