(Bloomberg) — Wrtn Technologies Inc. has raised 83 billion won ($56 million) from investors including Goodwater Capital, one of a growing number of South Korean AI startups to score financing in the post-ChatGPT era.
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Existing backers BRV Capital Management and Capstone Partners participated in the so-called extension round, bringing the total capital raised for that round to 108 billion won, the Seoul-based startup said on Monday.
Wrtn, pronounced “written,” was founded in 2021 by Lee Seyoung and five friends. They created a free-to-use AI platform for more than 5 million mostly younger users in Korea by aggregating large-language models including OpenAI’s ChatGPT4, Stable Diffusion 3 and Anthropic’s Claude 3.
When it comes to Korea, startup financiers have focused on the firms that supply the infrastructure for AI, including chip designers FuriosaAI and Rebellions Inc. Wrtn is part of a growing crop of local outfits seeking to develop AI services.
–With assistance from Lauren Faith Lau.
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