Leading investment firms join forces to accelerate development of next generation virtual assistant technologies
(February 6th 2018) Skelter Labs (CEO: Ted Cho), an AI startup, today announced that it has completed a KRW 10 billion financing round in 2017 with participation from KakaoBrain, K-Cube Ventures, followed by closing investments from Stonebridge Ventures and Lotte Homeshopping. Skelter Labs plans to utilize the investment to accelerate its development of machine intelligence technologies and to expand its solutions into markets in 2018.
Ted Cho, the founder and CEO of Skelter Labs said, “Skelter Labs is building artificial intelligence technology that will advance the next generation of human-machine interaction,” adding, “The new investment will allow us fulfilling our mission to develop technologies that exceed the limitation of existing virtual assistants, become more personalized and assist users anytime and anywhere in their lives”.
“Skelter Labs has proven that its technologically advanced solutions are incredibly attractive to the industry’s top decision makers,” said Dong Youl Choi, Vice President at Stonebridge Ventures. “Their strategy to build machine learning and deep learning with an army of high profile engineers and seasoned market experts gives them the unique opportunity to become the strongest AI company in Korea and to advance to global markets with its international team.
With Ted Cho, the former Engineering Site Director at Google Korea, Skelter Labs established an engineering foundation with a team that consists of artificial intelligence experts from Google, KAIST AI Lab, Samsung and other global enterprises, which has become the key driver of Skelter Labs’ rapid growth.
Skelter Labs has been experiencing massive growth in its R&D efforts and technology developments related to conversational AI and deep learning solutions such as vision recognition and chatbots where a significant portion of Skelter Lab’s current revenue comes from.
About Skelter Labs
Founded in July 2015, Skelter Labs (CEO: Ted Cho) is an artificial intelligence technology company developing innovative machine intelligence technology that is designed to enhance the quality of the users’ daily lives. Skelter Labs particularly funnels its technological capabilities in developing Intelligent Virtual Assistant technology that can be widely applied to various areas including smart speakers, smartphones, home appliances, automobiles and wearable devices.
As one of the fastest growing artificial intelligence startups in Korea, over 50 employees from different professional backgrounds such as Google, Samsung, LG and KAIST AI Lab take part in engineering, product management, UX design and marketing.