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Twelve Labs, a generative artificial intelligence (AI) startup based in South Korea, has secured a combined investment of $10 million. Nvidia Corp., Intel Corp., Samsung Next, and Korean Investment Partners are the four companies contributing to this investment.
Nvidia Makes First Direct Investment in Korean AI Startup
Twelve Labs disclosed that this marks Nvidia's first direct investment in a Korean AI startup, Yonhap News Agency noted.
The startup's innovative approach to AI has impressed Mohamed Siddeek, head of NVentures at Nvidia, who stated, "What Twelve Labs has accomplished technically is impressive. Anyone who understands the complexities associated with summarizing video will appreciate this leap forward."
Intel, Samsung Next, and Korean Investment Partners are joining the investment consortium. As industry giants in chip manufacturing and equity funding, respectively, their involvement in Twelve Labs' funding round demonstrates confidence in the startup's potential.
Hyperscale AI Models for Comprehensive Video Understanding
Twelve Labs has developed hyperscale AI models capable of understanding various types of information in video formats, as per a Korea Bizwire report. These models can effectively analyze text, logos, conversations, and objective behavior within videos. The company's technical prowess has earned recognition within the industry.
Founded in 2021, Twelve Labs has set forth a bold vision: to create an infrastructure for multimodal video understanding and empower developers to build programs that can see, listen, and comprehend the world as humans do.
The advice of renowned AI scholar Fei-Fei Li and the expertise of Aidan Gomez, CEO and co-founder of Cohere, who competes with Microsoft-backed OpenAI, further bolsters the startup's potential.
Twelve Labs' Impressive Growth and Future Prospects
Twelve Labs, with extensive backing from major players in technology and investment spheres, envisions establishing itself as a leading player in the generative AI market. This investment is the latest milestone for the startup, following a previous seed round that raised $17 million from global venture capital firms, including Index Ventures.
Twelve Labs maintains its dual headquarters in Seoul and San Francisco, strategically positioning itself to leverage opportunities emerging from the Asian and North American AI markets. This geographical advantage allows the startup to tap into diverse resources and foster global collaborations.
Photo: Twelve Labs Newsroom
