SK Networks invests $22 million in US AI-based device company 'Humane'

Humane Participates in Series C Round... Secures 2.6% Stake

SK Networks has secured a 2.6% stake in Humane, a U.S.-based artificial intelligence (AI) device company.

On the 9th, SK Networks announced that it had made a direct and indirect investment of $22 million in Humane's $100 million Series C round, securing a 2.6% stake. This investment was made through the U.S. investment firm Hico Capital.

The round, led by Kindred Ventures, included existing investors such as OpenAI founder Sam Altman, Tiger Global, and Valia Ventures, along with new participants including SK Networks, Microsoft, Volvo, and LG Technology Ventures.

Humane is a company developing next-generation innovative devices for the post-smartphone era using AI. Co-founders Vessani Bonjorno and Imran Chaudhry are former Apple employees. During their time at Apple, they participated in the launch of industry-leading IT devices and software such as the iPhone and iPad. Humane is creating AI-based innovative software platforms and devices.

SK Networks announced on the 9th that it has made a direct and indirect investment of a total of 22 million USD in the Series C round, which Humane is raising at a scale of 100 million USD for commercial product production and technology development through its U.S. investment corporation, Hyko Capital. The photo shows Samuel Kim, Head of SK Networks Hyko Capital (from the left), Seonghwan Choi, President of Business Division, and Humane co-founders Bethany Bonjorno and Imran Chaudhri at the investment celebration event held in Las Vegas, USA, last January. Photo by SK Networks

SK Networks decided to invest in Humane due to its high growth potential. They also noted that the startup was founded by key personnel who led Apple's IT device innovations and that Humane collaborates with leading global partners such as Microsoft, Qualcomm, and OpenAI.

Imran Chaudhry, co-founder of Humane, said, “Through deep conversations with SK Networks, we became confident that both companies share the same future vision. We are excited about how this partnership will expand Humane's innovations to Korea and many other countries around the world.”

Based on this investment, SK Networks plans to be recognized for its world-class network and investment expertise in the AI field and will seek to explore global market opportunities through collaboration with Humane.

Samuel Kim, head of SK Networks' Hico Capital, said, “Following our 2021 investment in Standard Cognition, a company specializing in unmanned store automatic payment solutions, this investment in Humane has allowed us to establish a cooperative system with B2C and B2B companies utilizing AI computing solutions. We will strategically expand investments in technology companies centered in Silicon Valley to increase corporate value and share it with stakeholders.”