Conversational AI startup Rapeech attracts $4.4 mn investment

South Korean conversational artificial intelligence (AI) startup Rapeech announced on Sunday that it attracted an investment of 6 billion won ($4.42 million).

Major capital providers include the Korea Exchange (KRX), Korea Securities Depository, Korea Financial Investment Association, and Koscom, with the Konex Scale-up Fund managed by Capstone Partners and Timefolio Asset Management also participating as investors.

Rapeech, a company listed on the Konex market—a minor South Korean securities bourse exclusively for small- and medium-sized enterprises (SMEs) and startups—has been dedicated to research and development (R&D) in the voice sector for 20 years since its establishment in 2005.

As a conversational AI company in South Korea, it provides effective consultation and automation services utilizing various domestic and international AI engines.

The company undertakes large-scale projects with major financial institutions and telecom companies in South Korea.

Rapeech has also launched a subscription service aimed at small and medium-sized enterprises and SMEs this year. 

Write to Hyung-Chang Choi at calling@hankyung.com