Portal Operation for AI Popularization
Cumulative Investment Attraction of 44 Billion KRW
"Realizing AI-Human Everyday Integration"
AI startup 'Lutten Technologies' has secured 25 billion KRW in funding from domestic and international investors including those from the United States, Japan, and Korea. With this pre-Series B round, Lutten's total accumulated investment has reached 44 billion KRW. The company plans to focus on developing products and services aimed at popularizing AI.
The round was led by new participant BRV Capital Management (BRV). Existing investors such as Capstone Partners, IBK Industrial Bank, and Z Venture Capital (ZVC) also participated. BRV is the Asia growth investment platform of BlueRun Ventures, a Silicon Valley-based venture capital firm known for early investments in 'Waze,' a core technology behind Google Maps, and 'PayPal,' a globally growing fintech company. ZVC is a corporate venture capital (CVC) operated by LY Corporation (formerly Z Holdings), a Japanese internet company running Yahoo Japan and LINE.
Lutten envisions establishing itself as a portal site that provides various AI services to the public easily and conveniently. In March, it conducted a major update to enhance AI search and improve user convenience. On Lutten, anyone can create their own AI character chatbot. The company is also advancing multiple AI services including chat, studio, and tools.
Jung Eemin, Executive Director at BRV, stated, "The transnational efforts to build AI infrastructure ultimately aim to realize the everyday integration of AI and humans. Lutten's methodology for popularizing AI and the user responses to it give us hope for successful expansion beyond Korea and Japan into other non-English-speaking markets," explaining the investment background.
Lee Seyoung, CEO of Lutten, said, "Through this funding, we will focus on developing and advancing products and services needed by the times, and by concentrating on an organization with strong competitiveness and technological capabilities, we will grow into a leading company in AI popularization."
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