SoftBank Ventures Asia has participated in a $27 million funding round in VoyagerX, a South Korea-based artificial intelligence (AI) software developer. The early-stage venture capital arm of the SoftBank Group joined this round along with Altos Ventures and Yellowdog with each investing $9 million.
The company will use funds to develop more user-centric AI services, with the aim to hire 100 people by 2022. Founded in 2017, VoyagerX builds AI solutions and tools that leverage deep learning capabilities.
CEO of Softbank Venture Asia, JP Lee, had this to say:
“With the rapid development of AI technology and the increased demand for digital solutions, we are seeing huge opportunities in the market. Artificial intelligence falls firmly in that category and VoyagerX, with their top-tier talent, creative innovation, and rapid time-to-market, have proven that they have the potential to be market leaders in this field.”