SK Networks invests $22 mn in US AI-based device company

The S.Korean company participated as a strategic investor in Humane's Series C round, secured 2.6% stake

SK Networks' Hico Capital CEO Samuel Kim (from left), SK Networks General Manager Choi Seong-hwan, Humane Co-Founders Bethany Bongiorno and Imran Chaudhri (Courtesy of SK Networks)
SK Networks' Hico Capital CEO Samuel Kim (from left), SK Networks General Manager Choi Seong-hwan, Humane Co-Founders Bethany Bongiorno and Imran Chaudhri (Courtesy of SK Networks)
Jae-Fu Kim 1
2023-03-09 14:44:16 hu@hankyung.com
Venture capital

South Korea's SK Networks has identified a startup specializing in AI-based devices and software platforms as a new investment target. The startup, called "Humane," has been attracting attention in the US market for its innovative technology.

SK Networks, through its US-based investment corporation Hico Capital, has invested a total of $22 million in direct and indirect investments in the Series C funding round of $100 million for Humane. The investment is aimed at producing commercial products and developing technology, with SK Networks acquiring a 2.6% equity stake.

The decision to invest was made at the end of last year and was officially notified to stakeholders after Humane's recent investment round was concluded.

In the latest round, Kindred Ventures led the investment, alongside existing investors such as OpenAI founder Sam Altman, Tiger Global and Valia Ventures. New investors, including Microsoft, Volvo, LG Technology Ventures and SK Networks, also joined the round.

Humane is a company that uses AI to develop next-generation devices, with co-founders Bethany Bongiorno and Imran Chaudhri being former Apple employees.

SK Networks' Hico Capital head, Samuel Kim, stated that they plan to strategically expand their investments in technology companies centered in Silicon Valley to increase corporate value and share it with stakeholders.

Write to Jae-Fu Kim at hu@hankyung.com
#SK Networks #HICO Capital #Humane #AI-based devices and software platforms #Series C funding

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