Nota AI Raises $21.7M Series C for Edge AI Optimization

Seoul, South Korea - Nota AI, a South Korean startup specializing in edge and on-device generative AI technology, has secured KRW 30 billion ($21.7 million) in a Series C funding round, bringing its total funding to approximately KRW 53.2 billion ($38.5 million).

STIC Ventures and LB Investment spearheaded the round, and new investors, including STIC Ventures, KDB Bank, and Mirae Asset Securities, participated. 

Furthermore, existing investors, including Stonebridge Ventures, LB Investment, Intervest, and DS Investment Partners, participated in the round, along with a strategic investment from CVC, a significant AI semiconductor company.

Founded in 2015, Nota plans to utilize the proceeds from this investment to hire top AI optimization talent and expand its business through collaborations with global AI semiconductor companies.

The company has partnered with leading AI semiconductor firms such as NVIDIA or Arm to provide generative AI optimization technology.

The company has set a target date of early 2025 for its initial public offering (IPO), with Mirae Asset Securities selected as the lead underwriter. 

The company anticipates that its revenue in the first half of 2024 will exceed its total revenue for 2023, and its full-year revenue will increase 300% compared to the previous year.

*US$1=KRW1,381.22