Home / Business and Economy / AI Startup Upstage Secures $45M Funding, Expands Globally
AI Startup Upstage Secures $45M Funding, Expands Globally
20 Aug
Summary
- AI startup Upstage raises $45M from Amazon, AMD
- Total funding now at $157M for Seoul-based company
- Expanding in US and Asia-Pacific region
In a significant development, the AI startup Upstage has secured $45 million in new funding from investors including e-commerce giant Amazon.com Inc. and semiconductor company Advanced Micro Devices Inc. (AMD). This latest investment, which was part of a Series B bridge round, has brought Upstage's total funding to an impressive $157 million.
The Seoul-based company, which specializes in developing advanced AI models, plans to utilize the fresh capital to further accelerate the development of its next-generation technology. Additionally, Upstage intends to leverage the funds to expand its presence in the United States and the Asia-Pacific region, tapping into new markets and opportunities.
The Korea Development Bank, an existing backer of Upstage, also participated in this latest funding round alongside the two prominent American companies. This strong show of support from both domestic and international investors underscores the growing confidence in Upstage's technological capabilities and its potential to make a significant impact in the rapidly evolving AI landscape.
