AI All Funding Startup News in Korea (Korean Startup News)

42Maru Secures Series B Funding for AI Innovation and Market Leadership

2024-01-30 1 min read

42Maru Secures Series B Funding for AI Innovation and Market Leadership

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Korea-based AI startup 42Maru has secured Series B investment from Hana Securities and Industrial Bank of Korea (IBK). Both entities previously participated in the Series A round in late 2021 and have now followed up with a subsequent investment in this Series B round after a two-year gap.

In this funding stage, 42Maru received the highest rating, T3, in the technical evaluation, acknowledging the excellence of its large language model (LLM)-based generative AI technology. The company’s ability to internalize core AI technology and provide end-to-end services, from RAG consulting to LLM solution development, played a significant role in attracting investment, showcasing market innovation and growth potential.

To address the limitations of hallucination in large language models, 42Maru engineers its AI comprehension (MRC)-based Question Answering (QA) model with a focus on accuracy. The company supports a Private mode for enterprise use, ensuring the secure utilization of large-scale AI without concerns about internal data leaks or sensitive customer information. Additionally, 42Maru specializes in developing models tailored to specific industries, enabling significant cost savings in solution construction, training, and serving.

Kim Dong-hwan, CEO of 42Maru, expressed both pride and a sense of responsibility, stating, “We are proud to fulfill the promises made during the Series A investment, and the subsequent follow-on investment adds weight to our shoulders. We will lead the generative AI market based on our commercial AI technology and continue to grow, thanks to the trust and support from our investors.”

[Korean Gen AI Startup News]

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