Element AI Creates $45M USD Global AI Fund

Posted on November 16, 2017

We’re excited to announce the launch of a $45M investment fund in partnership with three of the biggest organizations in Korea, SK Telecom, Hyundai Motor Company, and Hanwha.

The focus of the fund will be AI startups in Korea, with a specific focus on autonomous vehicles, household robots, manufacturing, drones, and hardware.

In Korea (and all of Asia), the advancements in AI are moving at an incredibly fast pace, and we’re excited to be tapping into that growing market.

The fund will be actively managed by the three Korean companies, while Element AI will play an advisory role. With our deep knowledge of the AI ecosystem and access to cutting-edge research and products, we’ll be in a unique position to add value for investment advice.

AI investments are heating up, and are growing at an unprecedented rate:

This is an incredible opportunity to combine and leverage all of our unique strengths to grow the AI ecosystem.

  • Hyundai Motor Company has deep expertise in autonomous vehicle research
  • SK Telecom brings a ton of experience in infrastructure and connectivity
  • Hanwha Asset Management (which currently manages USD$82bn in assets) brings incredible knowledge about investments and FinTech
  • Element AI has unrivaled access to the latest AI research and business use cases

All of the companies involved in this fund share the same vision of transforming organizations with AI and we’re excited to build the future with them.

Read the full press release here.