Selvas AI Achieves 40% YoY Revenue Growth to 48.6 Billion KRW, Turns Profitable

[Asia Economy Reporter Kim Bo-kyung] Selvas AI, a company specializing in artificial intelligence and voice technology, recorded sales of 48.6 billion KRW last year, achieving its highest-ever performance.

Selvas AI announced on the 14th through a public disclosure that its consolidated sales in 2021 increased by 40% compared to the previous year, reaching 48.6 billion KRW, marking an all-time high. Operating profit turned positive, reaching 5.6 billion KRW.

On a separate basis, last year's sales increased by 43% compared to the previous year to 19.5 billion KRW, with operating profit turning positive at 2.6 billion KRW.

Selvas AI stated that balanced growth in AI convergence businesses such as HCI (Human Computer Interaction) including voice recognition and voice synthesis, as well as edutech and healthcare, drove the performance.

Recently, the company has been securing new growth engines by utilizing the metaverse. It has signed business agreements and is progressing commercialization with Engine Visual Wave, the visual effects production company for the Netflix drama "Jigok" (Hell), and Wysiwyg Studios, the visual effects production company for "Space Sweepers".