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Lee Soo Man, the founder of SM Entertainment in South Korea, has invested $5.2 million in Mindlogic Inc., a South Korean AI startup company.
Sole Investor for the AI Company
The Korea Economic Daily reported that the former chief producer of SM Entertainment was the only investor in Series B funding for Mindlogic. He said he could still raise his investment in the large language models (LLM) and AI startup up to $7.5 million or KRW10 billion.
Based on information from insiders, Lee is currently in talks for additional investment after emerging as the sole investor in January's Series B funding round. Now, Mindlogic has been able to raise a total of KRW12 billion since it was set up in 2019. Its other earlier investors include Strong Ventures, Partech Partners, DSC Investment Inc., and Tekton Ventures.
Deeper Look Into Mindlogic
The company was co-founded by Kim Young Woo and Kim Jin Wook in 2019. Before serving as co-CEOs at Mindlogic, both worked at McKinsey & Company.
Mindlogic is mainly focused on its Mindlogic Persona Chatbot, an AI chat service that was only launched in 2023. According to The Chosun Daily, this technology creates a "persona" by ingraining artificial intelligence with the personality and knowledge of certain individuals, making it possible to engage in worthwhile conversations with users.
Meanwhile, Mindlogic's Persona Chatbot's most remarkable feature is its cutting-edge long-term memory capability. The company uses its Persona Engram technology to allow the chatbot to retain all its user interactions.
To protect the privacy of users as well as intellectual property (IP), the company incorporated IP protection tech into its AI chatbots. This will ensure that all private data or IPs shared during conversations are separated and stored in a different secured place to avoid being used in AI training.
Photo by: Mindlogic Chat AI Website
