Leading VC firm from Singapore joins Skelter Labs as investor along with KakaoBrain, Kakao Ventures, Stonebridge Ventures, and Lotte Homeshopping
Seoul, South Korea – November 5, 2018 – Skelter Labs Inc. today announced that after having closed an accumulated amount of $10 million in funding from several investors earlier this year, the artificial intelligence startup receives an additional investment from Singapore based venture capital firm Golden Gate Ventures. The strategic investment is part of Golden Gate Ventures’ third fund of US$100 million and will enable Skelter Labs to expand its business activities to South East Asia including Vietnam, Thailand, Malaysia as well as Japan.
Golden Gate Ventures is proud to be a part of Skelter Lab’s journey. Using AI technology has become a significant part of corporate strategies across the globe. With their experienced background Skelter Labs is well positioned to help corporates execute on that strategy” – Michael Lints, Partner of Golden Gate Ventures.
Skelter Labs is currently hyped as one of the fastest growing AI startups in South Korea with a focus on four key dimensions of machine intelligence including vision/speech, context, and conversation. Its core technologies are designed to empower enterprises to apply artificial intelligence technologies along the entire value chain including manufacturing, customer operations, device interaction, and consumer hyper-targeting.
Ted Cho, CEO of Skelter Labs, quoted, “Our company is currently growing very fast and the latest strategic investment from Golden Gate Ventures is intended to help us to expand regionally and enter new markets. It means a lot to us that Golden Gate Ventures, a prominent firm with strong footprints across Southeast Asia joins us as an investor, which gives us the opportunity to be part of the rapid technology rise happening in Southeast Asia’s right now.”
To date, Skelter Labs is successfully partnering with several Korean conglomerates by licensing its core technologies as a primary revenue source.
About Skelter Labs
Founded in November 2015, Skelter Labs (CEO: Ted Cho) is an AI startup developing machine intelligence technologies that are designed to empower businesses and enterprises with state of the art artificial intelligence. Skelter Labs particularly funnels its technological capabilities in cementing key areas that machine intelligence plays in vision and speech, context recognition, and conversation.
As one of the fastest growing artificial intelligence startups in Korea, over 60 employees from different professional backgrounds such as Google, Samsung, LG and KAIST AI Lab take part in engineering, research, product management, UX design, and marketing.