MindLogic, an AI startup primarily based in South Korea, has secured 7 billion gained in Collection B funding, with funding from Lee Soo-man, the previous chief producer of SM Leisure. This makes Lee Soo-man’s funding in MindLogic 10 billion gained.
Identified for actively backing promising Korean startups in drones and biotech, Lee has chosen MindLogic as an funding vacation spot, impressed by its distinctive interactive AI know-how.
MindLogic, established in 2019, has obtained a complete funding of 12 billion gained, together with Lee Soo-man’s latest funding. Alongside Lee’s contribution, different buyers within the startup embody DSC Funding Inc., Sturdy Ventures, Tekton Ventures, and Partech Companions. The corporate makes a speciality of AI brokers, primarily specializing in creating conversational AI fashions often known as chatbots, which autonomously carry out complicated duties from immediate to product.
Co-founded by Kim Yong-woo and Kim Jin-wook, each former McKinsey & Firm staff, they began their journey with the startup entry into the highest 5 rankings of Google Assistant’s world interactive chatbot service in July 2018.
MindLogic’s flagship product, the Persona Chatbot, leverages OpenAI’s ChatGPT and the startup’s distinctive dialogue engine to simulate human-like conversations. Enhanced by the corporate’s proprietary long-term reminiscence know-how, Persona Engram, the chatbot can recall previous person interactions, together with their names and conversations.
This reminiscence functionality permits the chatbot to deepen its understanding of customers’ feelings and have interaction in additional intimate dialogues, which units it other than different conversational AI providers.
A key facet of MindLogic’s know-how is its deal with safeguarding person privateness and mental property. Via IP safety know-how built-in into its chatbots, the corporate ensures that delicate info shared throughout conversations stays confidential and isn’t used for coaching functions. Moreover, the chatbots are outfitted with measures to mitigate hallucinations, lowering the danger of presenting inaccurate or deceptive info.
The corporate’s generative AI-based cell app, “Digital Males and Girls,” launched in 2020, and the conversational social AI service, “OpenTown,” was launched in 2021 within the human-AI interplay house. Moreover, MindLogic has been chosen for a number of government-supported R&D packages.
The AI-powered chatbot employs IP safety measures to detect and segregate IP-related info from conversations, safeguarding it from direct publicity or use in machine studying processes.
Moreover, the chatbot incorporates hallucination inhibition know-how to mitigate the danger of producing false or unethical dialogue, making certain a safe and moral person expertise. Persona Chatbot helps voice conversations, permitting customers to have interaction with personified chatbots in additional immersive interactions.
Along with its flagship Persona Chatbot, MindLogic gives a variety of tailor-made chatbot options designed to reinforce varied facets of person expertise. These embody customer support chatbots tailor-made for e-commerce platforms to enhance procuring experiences and drive product purchases.
The choice to spend money on Mindlogic was influenced by the enterprise potential of its Persona chatbot providers and the corporate’s technological capabilities. Mindlogic goals to develop its Persona chatbot choices to cater to movie star fandoms, notably within the Ok-pop trade, by leveraging AI know-how to emulate celebrities’ private traits and speech patterns, facilitating customized interactions with followers.
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