San Francisco, CA, USA / Seoul, South Korea - Twelve Labs, an AI-focused startup founded in 2021, recently raised $10 million in funding.
This influx of capital is a notable shift from the dominant AI investments, which have mostly gone to infrastructure.
The Key Points
- Investors in the round included Nvidia Corp, Intel Corp, Samsung Next, and Korean Investment Partners.
- The startup, which previously secured $17 million in seed funding, plans to use the new capital to develop its video analytics technology further.
- This investment underscores Twelve Labs' role as an emerging player in the generative AI market, a sector projected to be worth up to $1.3 trillion over the next decade.
Who are they?
Twelve Labs has developed hyperscale AI models capable of analyzing different types of video data.
These models differentiate the startup from companies like Naver Corp. and KT Corp., focusing primarily on text-based, large-scale language models.
Twelve Labs previously won a technology competition organized by Microsoft and has an advisory board that includes notable figures in the field of AI, including Fei-Fei Li and Aidan Gomez.
