Gate News message, April 15 — South Korean generative AI startup Upstage closed the first tranche of its Series C funding round, raising 180 billion won (approximately $130 million) and achieving a valuation exceeding 1 trillion won ($720 million), making it the country’s first AI unicorn. Silicon Valley-based Sage Partners led the round.
New investors include Exim Asia, Hyundai Motor, Kia, and Woori Venture Partners, alongside existing backers Premier Partners, Shinhan Venture Investment, Mirae Asset Venture Investment, KB Securities, and Intervest. The round brings Upstage’s total funding to approximately 400 billion won since its 2020 founding, following seed, Series A (31.6 billion won in 2021), Series B (100 billion won in 2024), and Series B bridge (62 billion won in 2025) rounds.
Upstage’s proprietary large language model Solar LLM and document processing AI Document Parse are deployed by Fortune 500 companies including Samsung, major South Korean insurers, and multiple public institutions. The company reported annual revenue growth exceeding 130% and was selected by South Korea’s Ministry of Science and ICT to lead the national independent foundation model project.
The new capital will fund GPU infrastructure expansion, talent acquisition, overseas market development in the U.S. and Japan, and preparation for an initial public offering. CEO Kim Sung-hoon stated the company aims to achieve 1 trillion won in revenue, adding that the funding reflects market confidence in Upstage’s position as South Korea’s leading AI developer.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Ethereum Co-founder Lubin: AI Will Be Critical Turning Point for Crypto, But Tech Giant Monopoly Poses Systemic Risk
Ethereum co-founder Joseph Lubin emphasized the transformative potential of AI for the cryptocurrency sector while cautioning against the risks of centralization among tech giants. He envisions AI-driven autonomous transactions on blockchain and highlights the convergence of traditional finance with DeFi.
GateNews1h ago
Elon Musk Pushes 'Universal High Income' Checks as Ultimate Solution for AI Unemployment
Elon Musk advocates for a Universal High Income to combat AI-induced unemployment, envisioning a future with ample goods and zero inflation. In contrast, experts like Sam Altman raise concerns about job loss and propose protective measures for workers.
Coinpedia1h ago
DeepSeek Reportedly Launches First External Fundraising Round, Targets $10B+ Valuation and $300M+
DeepSeek, a Chinese AI startup, is negotiating its first external funding round, aiming for at least $300 million at a $10 billion valuation. Despite previous rejections of investment offers, its fundraising discussions are now reportedly underway.
GateNews2h ago
ChatGPT ads move into Australia and New Zealand: Free and Go users first, paid plans stay ad-free
OpenAI expanded ChatGPT advertising on April 17, 2023 to Australia, New Zealand, and Canada for Free and Go users, with no ads for paid users. This marks the second pathway toward AI commercialization and takes into account business and regulatory risks, where the presence of ads can promote paid conversions.
ChainNewsAbmedia4h ago
Hyundai Motor Group Reorganizes Around AI and Robotics, Targets 30,000 Atlas Robots by 2030
Hyundai Motor Group is restructuring to focus on AI and robotics, reducing traditional operations. It plans a $34.3 billion investment in robotics by 2030 and aims to launch a robotics-as-a-service model, collaborating with Google DeepMind and NVIDIA.
GateNews7h ago
NEA explores use of artificial intelligence in nuclear regulation
The NEA Working Group on New Technologies convened a workshop on March 25--26, focusing on how artificial intelligence can be applied to regulatory oversight and internal operations within nuclear authorities.
Summary
NEA workshop explored real-world AI applications in nuclear regulation, with
Cryptonews9h ago
