Upstage Secures Series B Bridge Investment

Upstage has secured a Series B bridge investment of approximately KRW 62 billion from major domestic and international investors. The round was led by KDB (Korea Development Bank), with Amazon and AMD newly joining.

New and existing investors include Intervest, KB Securities, Primer Sazae, Shinhan Venture Investment, Mirae Asset Venture Investment, and Premier Partners. Upstage sees this investment as a springboard for tackling the global AI market and advancing its core products.

The company will advance its core AI product lineup, including Solar and its document processing solutions, while continuing strategic collaboration with AWS for AI innovation in the US and Asia-Pacific regions. With AWS as its preferred cloud provider, Upstage plans to enhance its models using SageMaker, Trainium, and Inferentia, and expand model distribution through the Bedrock Marketplace.

With this investment, Upstage's cumulative funding has grown to approximately KRW 200 billion. Upstage has continued its fundraising since a KRW 31.6 billion Series A round in 2021 and a KRW 100 billion Series B round in 2024, and was recently selected as the lead organization of a consortium for the Ministry of Science and ICT's independent AI foundation model development project.