Korean AI firm bags $4.1m in series A from Centauri Fund, others
South Korea-based AI data firm CN AI has raised US$4.1 million in a series A round led by Centauri Fund and IMM Investment.
CN AI offers AI engines that use synthetic data – new data generated from real-world information – to companies in the biomedical and IT industries. The engines can analyze images and postures and currently has applications in the healthcare and security sectors.
Recently, CN AI opened a data warehouse for customized datasets and has made training available to clients on demand. The company currently serves clients such as the Kangbuk Samsun Hospital, Seoul National University Hospital, and Dankook University Hospital.
“Synthetic data is not only a privacy-preserving technology that expands opportunities for the users to access and share data but also a time-saving technology for labeling real data,” said Wonseop Lee, CEO of CN AI.
About 60% of AI and machine learning development will use synthetic data by 2024, the company said, citing a recent study. CN AI’s latest funding will be used to boost its expansion efforts into Singapore and Indonesia.