MoneyBrain Receives an Additional Investment from China's Largest VC, IDG Capital

MoneyBrain Receives an Additional Investment from China's Largest VC, IDG Capital

SEOUL, South Korea--(BUSINESS WIRE)--Jan 10, 2020--

MoneyBrain, an AI startup (CEO Jang Se Young), received an additional investment of KRW 2 billion from IDG Capital Korea Partners (IDG).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200110005141/en/

MoneyBrain, an AI startup (CEO Jang Se Young), received an additional investment of KRW 2 billion from IDG Capital Korea Partners (IDG). These investments have helped MoneyBrain to create world-class AI video synthesis technology which only a few companies could implement following the U.S and China. (Photo: Business Wire)

As a new investment member, IDG Capital is the largest Venture Capitalist in China which has invested towards Tencent, Baidu, and Xiaomi to help them grow into world renowned-companies.

After receiving their initial investment of KRW 2 billion in 2017, MoneyBrain has successfully attracted additional investments from Posco Capital and KB investment which accumulated KRW 5 billion in November 2019 and after a month they have received another KRW 2 billion totaling KRW 9 billion in investments.

These investments have helped MoneyBrain to create world-class AI video synthesis technology which only a few companies could implement following the U.S and China.

As a third-year start-up, MoneyBrain works towards creating the most advanced AI that resembles human through their cutting-edge video and voice synthesis to make a difference in the AI industry.

Recently, MoneyBrain has also launched its AI English Tutor service "SpeakNow" which ranked first in Google Playstore's education category just after 2 months of its initial launch.

As a result, MoneyBrain is planning to launch their application globally towards Japan, Taiwan, and China this year.

Moreover, MoneyBrain's AI video technology is being implemented in different industries such as broadcasting services, education, entertainment, commerce, and mobile industry and has already signed numerous contracts with business partners to commercialize this technology.

"MoneyBrain is one of the few companies in Korea that can compete in the AI industry in the world and through these investments the company will strengthen the AI research and with IDG's Chinese network we will make a bold entrance to the Chinese market," said Jang Se Young, the CEO of MoneyBrain.

For more information on MoneyBrain, please visit:

CONTACT: MoneyBrain

Leo Park

+82-2-858-5683

KEYWORD: CHINA SOUTH KOREA ASIA PACIFIC

INDUSTRY KEYWORD: EDUCATION TECHNOLOGY MOBILE/WIRELESS AUDIO/VIDEO SOFTWARE TRAINING

SOURCE: MoneyBrain

Copyright Business Wire 2020.

PUB: 01/10/2020 09:00 AM/DISC: 01/10/2020 09:01 AM

Copyright Business Wire 2020.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.