South Korean AI start-up, Upstage, has secured $45 million in funding from investors including Amazon and AMD. This investment aims to accelerate the development of Upstage's next-generation AI model and facilitate expansion into the US and Asia-Pacific markets.
Upstage specialises in large language models (LLMs) and document AI, with its flagship Solar LLM recognised for its performance and cost-efficiency. The company also offers Document AI, powered by optical character recognition (OCR) technology, which has seen demand in the finance and healthcare sectors. Upstage's technology is designed to enhance productivity in everyday business operations.
The company plans to use the funding to strengthen its core AI product line, including its Solar LLM and document processing solutions. Upstage is also planning to initiate its IPO process.
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