Yuga Labs, a leading provider of artificial intelligence (AI) and machine learning (ML) solutions, recently announced the completion of a $16 million investment round led by TwelveFold. The round was supported by existing investors including SoftBank Ventures Asia, Naver, and KTB Network.
Yuga Labs is an AI and ML platform that provides developers with the tools they need to create intelligent applications and services. The company’s products are used by developers to build AI-powered applications for a variety of industries, including healthcare, finance, retail, and more.
The new investment will be used to further develop Yuga Labs’ platform and expand its customer base. The company plans to use the funds to accelerate its growth in Asia, as well as to expand its presence in the United States and Europe. The company also plans to use the funds to build out its team of AI and ML experts and to invest in research and development.
Yuga Labs’ CEO, Dr. Jae-Won Lee, said in a statement that the company is “thrilled to have TwelveFold join us as a partner in our mission to make AI accessible to everyone.” He added that the investment will help the company “accelerate our growth and continue to deliver on our vision of making AI accessible to everyone.”
The investment is a major milestone for Yuga Labs, which has been working to make AI more accessible and affordable for developers. The company has already seen success in the Asian market, where it has grown rapidly since its launch in 2017. With the new funding, Yuga Labs is well-positioned to continue its growth and expand its reach into new markets.
Overall, the completion of this investment round is a major step forward for Yuga Labs and its mission to make AI more accessible and affordable for developers. With the new funding, the company is well-positioned to continue its growth and expand its reach into new markets.
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- Source: Plato Data Intelligence: PlatoAiStream