South Korean startup accelerator MashUp Angels announced on Nov. 12 that it has decided to fund deep learning-based tech startup Lion Rocket.
“We expect Lion Rocket to become a top company in the domestic and foreign market with its tech and ability to receive audio contents,” MashUp Angels CEO Lee Taek-kyung said in a statement.
MashUp Angels declined to disclose the specific amount of its funding, but added that it is giving funds of up to 300 billion won ($257.76).
Established in March this year, Lion Rocket develops text-to-speech technology, which studies 20-minute long voice data and analyzes factors such as the tone, intonation and pronunciation of users. The company’s technology then makes it possible to produce diverse contents using that person’s voice. The startups say that the technology can be applied to produce content such as audiobooks, education and entertainment YouTube contents.
“With this investment, we will focus on recruiting more professional employees and advance our technology. We also aim to expand our market presence further,” Lion Rocket CEO Jung Seung-hwan said.
He added that the company hopes to make its voice contents more accessible so that people can use them easily, similar to music content these days.
MashUp Angels was established in 2013 and mainly funds startups in their early stage. It has so far supported more than 90 startups including Drama & Co., operator of cloud-based business card management application Remember and fashion and beauty startup StyleShare.
By Song Seung-hyun (email@example.com)