Rounds / LLM / foundation models
Upstage
South Korean artificial intelligence startup building the Solar large language model and document AI.
- Website
- www.upstage.ai
- Headquarters
- Not reported
- Founded
- 2020
Rounds
Series C
KRW 180 billion
Valuation: surpassing KRW 1 trillion
Lead: Sazze Partners
Also in the round: Premier Partners, Shinhan Venture Investment, Mirae Asset Venture Investment, KB Securities, Intervest, Axiom Asia, Hyundai Motor Group, Kia, Woori Venture Partners
First close of the Series C. A dollar figure was not stated in this source.
Series B bridge
KRW 62 billion
Lead: Not reported
Also in the round: Not reported
Disclosed in Startup Recipe’s Series C report as a 2025 Series B bridge of KRW 62 billion. Month, day, and investors were not reported there.
Series B
about KRW 100 billion ($72 million)
Lead: SK Networks, KT, Korea Development Bank, Shinhan Venture Investment, Hana Ventures, Mirae Asset Venture Investment, IBK Securities
Also in the round: SBVA, Primer Sazze Partners, Company K Partners, Premier Partners
KED Global reported about KRW 100 billion ($72 million) and named Korea Development Bank, SK Networks, Shinhan Venture Investment, SBVA, and Primer Sazze Partners. Startup Recipe described the same $72 million Series B as led by a group that also included KT, Hana Ventures, Mirae Asset Venture Investment, and IBK Securities, with Company K Partners and Premier Partners participating.