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In December 2017, 42Maru attracted about 1.4 billion KRW of seed funding from domestic venture capital Spring Camp (Naver series AI Start-up professional accelerator) and DAYLI Partners (DAYLI Venture Capital). The investment was made in the form of the acquisition of convertible redeemable preferred stock (RCPS) by venture capital. Related article (Korean)
“As the global AI market grows, the market for artificial intelligence-based smart devices is rapidly growing. We decided to invest in technology likely to support it"
- An official from venture capital said
42Maru was also selected by TIPS as a private investment-led technology start-up supported project by the Ministry of Small and Medium Business and Enterprises of Korea, and secured an additional R&D fund of 500 million won.
42Maru was selected by Techstars the world's second largest startup accelerator (with <1% acceptance rate) for their TechStars London Program, the first AI startup in Korea.
Related article (Korean)
No. 1 jointly with Google in the machine reading competition 'SQuAD (The Stanford Question Answering Dataset) 2.0
Related article (Korean)
42Maru has filed patents for its technology in Korea, the USA, and Europe.
"We plan to spend most of our investments on recruiting people, building equipment, purchasing search content"
- D.K. Donghwan Kim (CEO)
