Korean AI startup Xinapse is making a push for an initial public offering (IPO) on the KOSDAQ, according to an announcement made by the company. Xinapse, established in 2017 and based on generative AI technology, has signed a representative management contract for the IPO with NH Investment & Securities.
Xinapse’s innovative AI voice technology has already made waves in various fields, such as the metaverse, audiobooks, and TV commercials. Its solutions are based on a conversation engine that identifies user intentions and photos and AI-based video creation technology, which has also been well-received.
One of Xinapse’s key competitive advantages is its AI voice variation technology. The company offers a range of voice technologies, including voice transfer, voice synthesis, voice generation, emotional expression, multilingual conversion, and singing. AI voices and songs found in T-map’s celebrity navigation and Yanolja TV commercials were produced with Xinapse technology. Xinapse’s subsidiary, Biblely, has provided services such as Bible reading since May last year. The service has recorded about 39,200 downloads so far.
Following the IPO, Xinapse plans to significantly expand its investments to secure sales and profits and to vitalize its global business. Xinapse’s IPO is expected to draw significant interest from investors looking to capitalize on the growing demand for AI technology in various industries. The company’s innovative AI voice technology and its strong track record of success in the market make it an attractive investment opportunity for those looking to get in on the ground floor of a rapidly growing industry.
According to Xinapse’s CEO, Jung-hee Ryu, the company aims to “create a world where people can easily use AI services in their daily lives.” In addition to its AI voice technology and conversation engine, Xinapse has also developed a range of other innovative solutions, including emotion recognition and prediction technology and AI-based medical image analysis technology.
Xinapse is now looking to expand its reach into the global market. The company has opened offices in the US and Japan and is actively seeking new partnerships and opportunities to bring its AI solutions to a wider audience.
Xinapse’s recent announcement of its plans to push for an IPO on the KOSDAQ is a testament to the company’s growing success and potential for further growth. With its cutting-edge AI technology and strong track record of success in the market, Xynapse is well-positioned to capitalize on the growing demand for AI solutions in Korea and worldwide.
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