Wrtn Technologies Inc., a South Korean AI startup, has successfully raised 25 billion won ($18.3 million) in a funding round led by BRV Capital Management. The pre-Series B funding round also saw participation from existing investors such as Capstone Partners Inc., Industrial Bank of Korea, and Z Venture Capital.
Founded in 2021 by Lee Seyoung and a group of five friends, Wrtn has developed an AI platform that currently serves 3.7 million users in Korea and Japan. By leveraging various large-language models, including OpenAI Inc.’s ChatGPT4, Stable Diffusion 3, and Anthropic PBC’s Claude 3, the company has created an effective AI solution.
Looking ahead, Wrtn aims to expand its operations to Southeast Asia and the Middle East. In an interview with Bloomberg TV, 29-year-old Lee expressed his plans to keep the platform free for most users while generating revenue through advertising and premium content subscriptions.
Lee expressed that by doing so, the advantages of the technology will be available to a larger population. Wrtn is targeting teenagers, college students, and individuals in their twenties, with approximately 70% of new members falling under the age of 30, according to Lee. He further added that the company intends to solidify its position in this market segment throughout the year and pursue further growth. This information was reported with the help of Shery Ahn, Haidi Lun, and Lauren Faith Lau.