Ruton Technologies has become the first domestic artificial intelligence (AI) service startup to achieve a valuation of 1 trillion won, securing 100 billion won in Series C funding.
On August 26, Ruton announced that it had raised 100 billion won in Series C funding, bringing its total funding to approximately 230 billion won.
This round of investment saw new participation from Coreline Ventures and Eugene Asset Management. Existing investors, including Goodwater Capital, Antler Global, Woori Venture Partners, Suigenesis Partners, the Korea Development Bank, and Capstone Partners, also took part in the follow-up investment.
Coreline Ventures is a venture capital firm with offices in Menlo Park, Silicon Valley, and Tokyo, Japan. It invests in promising companies in the consumer and business-to-business (B2B) technology sectors in Korea, the U.S., and Japan, with notable investments including Kakao and Ensemble Stars.
Osuke Honda, co-founder and partner at Coreline Ventures, who led the investment in Ruton, stated, “Ruton is becoming a phenomenon in the global market. Its platform is leading the entire consumer AI movement that is fundamentally innovating how AI interacts with human creativity and communication, as well as how we spend time online.”
He added, “The exceptional growth and rapid monetization that Ruton demonstrates, along with the ecosystem impact it is already creating in Korea, Japan, and the U.S., is a rare combination. I have strong confidence in Ruton’s unique team capabilities and the vast growth opportunities ahead.”
Ruton is also achieving business success in the global market. Its AI entertainment content platform, 'OOC,' launched in North America in May, surpassed 10 billion won in monthly revenue within just three months of its release.
Lee Se-young, CEO of Ruton, remarked, “Over the past five years since our founding, we have established ourselves as a leading AI service company in South Korea and proven our global competitiveness, which has enabled us to successfully conclude this investment. We will focus on global expansion and service enhancement to meet market expectations and grow rapidly as a safe and reliable AI service company.”
* This article has been translated by AI.
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