ESTsoft receives W10b funding to push AI business

[THE INVESTOR] Korean software developer ESTsoft, best known for its anti-virus solution ALYac, said July 4 it has secured a new funding worth 10 billion won (US$8.7 million) from local venture capitalist Atinum Investment.

The new investment was made through a 5-year convertible bond that was acquired by Atinum Investment. 

The company said the new funding will be used mainly for artificial intelligence-related development and other security businesses.

ESTsoft has poured resources into AI-based deep learning technologies as its new growth engine business. More recently it acquired I-Trix, an AI-based financial service start-up.

By Lee Ji-yoon (jylee@heraldcorp.com)