MarkVision raises investment from SoftBank Ventures

AI company MarqVision announced on the 17th that it had raised ₩2.4 billion from SoftBank Ventures to step up its global e-commerce efforts and expand into Asia.

The two companies agreed to work closely to build a global e-commerce partnership that strengthens IP protection, rapidly expand counterfeit monitoring services in Asia, and identify global enterprise customers with urgent IP protection needs.

With this investment, MarqVision has completed a ₩6 billion seed funding round. It plans to invest in strengthening its product offering and expanding its IP business as it works to become a global IP protection platform.

First, the company will expand its APAC sales team, currently based in its Seoul office, by opening additional sales offices in Hong Kong and Japan. It also plans to establish a dedicated business development team in China, build partnerships with local e-commerce companies, and strengthen its ability to respond to IP infringement in the country. In the second half of this year, MarqVision will launch a new anti-piracy service targeting global content companies in need of IP protection.

SoftBank Ventures reportedly valued MarqVision’s co-founders, who include Harvard and other Ivy League alumni; its team’s strong understanding of global markets; its exceptional scalability beyond any single country or region; its differentiated business model; and its proprietary AI technology for IP protection. SoftBank Ventures plans to support MarqVision’s international expansion by leveraging its existing portfolio companies, including Tokopedia and Soda, as well as SoftBank Group’s global e-commerce network, including Alibaba. It will also support hiring, public relations, and business development in Hong Kong, Japan, China, and other Asian markets.

“With its AI-powered counterfeit monitoring solution, MarqVision is creating an entirely new industry category,” said Lee Joon-pyo, CEO of SoftBank Ventures. “We expect many opportunities to create synergies with SoftBank Ventures as MarqVision expands into global markets.”

“We’re excited to work with SoftBank Ventures, which has helped many startups succeed,” said Lee In-seop, CEO of MarqVision. “With this investment, we will accelerate MarqVision’s growth in the global IP protection market and become a comprehensive IP platform that global brands and content companies rely on.”