XL8, a San Jose, CA-based deep-tech startup specializing in AI-powered machine translation technology, closed $7.5m Series A funding round.
The round, which brought total fundraising thus far to $11.5m, was led by KB Investment with participation from existing investor Atinum Investment.
The company intends to use the funds to enhance product offerings and further develop the core platform business, including leveraging generative AI capabilities into its proprietary AI technologies, facilitate global reach through international expansion into Europe, the Middle East, as well as further expansion throughout the Americas.
Founded in 2019 and led by Tim Jung, CEO, and Josh Pine, Chief Revenue Officer, XL8 provides AI-powered machine translation (MT) solutions specially optimized for media content. Its technology aims to enable efficient workflows by providing: in-line editing, automated media transcription with time coding, automated subtitling, synthesized voice dubbing, real-time meeting interpretation, and live subtitling. Its specialized translation engines have been built from the ground up utilizing professionally trained, human-perfected subtitles curated from media industry’s content producers.
Since its inception, XL8 has surpassed translating 800,000 hours of content and more than 2.2 billion words, and currently supports more than 45 languages.
The company has already initiated its global market expansion earlier this year into the UK, Turkey, and the UAE. Beyond media and entertainment, XL8 aims to build partnerships and integrate solutions with companies in diverse industries that require localization, including live broadcasts, e-commerce, call centers, and live events and conferences.
FinSMEs
27/09/2023