Skelter Labs raises 17.7 billion won in Series B funding

AI technology company Skelter Labs announced on the 5th that it had raised KRW 17.7 billion in Series B funding.

New investors in the round included KDB Bank, KDB Capital, Korea Investment & Securities, BNK Venture Investment, and a consortium of ATP Investment and eBEST Investment & Securities. Existing investors Stonebridge Ventures and Kakao Ventures also participated, following their investment in Series A. Strategic investors included iloom, the furniture brand of Fursys Group, and Miracle Lab. The round brings Skelter Labs’ total funding to approximately KRW 27.7 billion.

Founded in 2015, Skelter Labs is an AI technology company that provides core solutions for conversational AI and hyper-personalization under its AIQ brand. In conversational AI, it offers a high-performance chatbot builder based on natural language understanding (NLU), a machine-reading solution that ranked first in performance evaluations based on the Korean Question Answering Dataset (KorQuAD) as of the end of June, and automatic speech recognition and speech synthesis solutions. In hyper-personalization, the company focuses on using AI inference technology to build predictive models from app- and web-based user activity data.

Skelter Labs plans to use the Series B proceeds to recruit talent and build systems to support its business pipeline, advance its AI technology and strengthen its research and development (R&D) capabilities, and explore overseas business opportunities, particularly in Japan and Southeast Asia.

Skelter Labs CEO Cho Won-kyu said, “Despite the prolonged COVID-19 pandemic, the importance of securing high-quality homegrown technologies and the strong growth potential of conversational AI as the untact era takes hold enabled us to raise more than we had initially expected when we launched the Series B round.” He added, “With this funding, we will accelerate new businesses alongside our ongoing collaborations with various partners and work to achieve meaningful results not only in technology but also in our business.”