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

AI Startup BFAI Secures Seed Funding to Expand WhaleAI Marketplace for SMBs

2024-04-30 < 1 min read

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AI Startup BFAI Secures Seed Funding to Expand WhaleAI Marketplace for SMBs

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The South Korean AI company BFAI has secured seed funding from Korea Investment Accelerator. BFAI’s service, ‘WhaleAI,’ is a marketplace that enables small and medium-sized businesses (SMBs) to access practical AI solutions, currently targeting English-speaking countries.

While many SMBs aim to reduce costs and increase competitiveness through technology development, a lack of internal expertise and resources to create tailored AI solutions is a significant obstacle. To address this, BFAI offers WhaleAI, connecting AI experts with SMBs.

Jungtae Kim, BFAI’s CEO, founded Plask Mobile in 2009 while studying at Korea University and ran it for five years. He then led global business and product strategy at NBT, VCNC, Line, and Kurly before founding BFAI in March last year.

Takrim Lee, a director at Korea Investment Accelerator, said, “Considering the capabilities of the CEO and the team, we believe they can quickly expand globally and generate revenue.” He added, “We plan to support BFAI’s growth by connecting it with our portfolio of AI startups.”

Kim, the CEO of BFAI, remarked, “Hospitals, small retail stores, and SOHO malls face difficulties adopting AI, as implementation costs often outweigh productivity gains.” He added, “We will strive to enable more AI solutions tailored to SMBs to be actively traded on the platform, leveraging both the investment and the investor’s network.”

[Korean AI Startups News]



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