Were excited to announce the launch of a $45M investment fund in partnership with three of the biggest organizations in Korea, SK Telecom, Hyundai Motor Company, and Hanwha.
The focus of the fund will be AI startups in Korea, with a specific focus on autonomous vehicles, household robots, manufacturing, drones, and hardware.
In Korea (and all of Asia), the advancements in AI aremoving at an incredibly fast pace, and were excited to be tapping into that growing market.
The fund will be actively managed by the three Korean companies, while Element AI will play an advisory role. With our deep knowledge of the AI ecosystem and access to cutting-edge research and products, well be in a unique position to add value for investment advice.
AI investments are heating up, and aregrowing at an unprecedented rate:
This is an incredible opportunity to combine and leverage all of our unique strengths to grow the AI ecosystem.
Hyundai Motor Company has deep expertise in autonomous vehicle research
SK Telecom brings a ton of experience in infrastructure and connectivity
Hanwha Asset Management (which currently manages USD$82bn in assets) brings incredible knowledge about investments and FinTech
Element AI has unrivaled access to the latest AI research and business use cases
All of the companies involved in this fund share the same vision of transforming organizations with AI and were excited to build the future with them.