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Local AI startup VoyagerX raises $27m from SoftBank, others

VoyagerX CEO Nam Se-dong (center) (SoftBank Ventures Asia)
VoyagerX CEO Nam Se-dong (center) (SoftBank Ventures Asia)
SoftBank Ventures Asia said Wednesday that it has injected $9 million into the series A funding of VoyagerX, a South Korean artificial intelligence software developer.

SoftBank was joined by Altos Venture and Yellowdog in the round, which chipped in $9 million each making the total investment at $27 million. VoyagerX will use the funds to develop more advanced AI services and hire 100 more employees by next year.

Founded in 2017, VoyagerX builds AI solutions and tools that leverage deep learning capabilities. The company’s featured projects include vFlat, an AI mobile scanner app that analyzes the curved surface and scans the document flat; Vrew, an AI-powered video editing app that makes video editing as simple as editing a document on Microsoft Word; and Ownglyph, an AI font platform that converts individuals’ handwriting into a personalized font.

“At SoftBank Ventures Asia, we focus on investing in transformative technologies that can make a positive impact on people’s lives. AI falls firmly in that category and VoyagerX has proven its potential,” SoftBank Ventures Asia CEO JP Lee said.

By Kim Byung-wook (kbw@heraldcorp.com)
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