TLDR:
- No Korean AI startups have reached unicorn status yet
- Investments in Korean AI startups have increased in the first quarter
Korean AI startups have yet to join the global unicorn club, despite the increasing number of AI unicorns worldwide. While consumer platforms dominate the list of unicorns in South Korea, companies like Rebellions Inc. and Upstage Co. have raised significant funding this year, raising hopes of becoming the country’s first AI unicorns. Investments in global AI startups decreased in the first quarter, but the number of mega rounds doubled, indicating polarization in the AI venture capital market. Moonshot AI, owned by Alibaba, is one of the new AI unicorns, highlighting the potential for rapid growth in this sector. Despite challenges like lack of government support and talent for AI startups, the country’s venture capital market is growing rapidly. Rebellions and Upstage are some of the Korean AI startups that have raised substantial funding recently. Overall, the future looks promising for Korean AI startups in the global market.
