Upstage Raises $72M in Series B Funding
Summary
The company intends to use the funds to accelerate the development of purpose-trained LLMs for global enterprises. Led by Sung Kim, CEO, Upstage boosts work efficiency with document processing engines and large-language models (LLMs). Available via on-premises as well as API integration through platforms like Amazon SageMaker JumpStart, Solar provides a versatile and accessible alternative to larger, more resource-intensive models developed by tech giants. Furthermore, its Document AI solution leverages AI-powered OCR (optical character recognition) technology to automate workflows and process unstructured data, reducing operational costs and streamlining operations for clients. Commenting on the news, Sung Kim said: “This funding will help us build the world’s best generative AI model and deliver the ultimate ‘AGI for work’ solution to businesses worldwide.”