Bering Lab co-founders Jae-Yoon Kim (L) and Seong Moon
Bering Lab, an AI-powered legal translation startup in South Korea, has announced a US$2.3 million pre-Series A fundraise led by SBVA (formerly SoftBank Ventures Asia), with participation from The MBA Fund.
The company plans to leverage the new funding to enhance user experience and accelerate global expansion.
Bering Lab has already established a presence in 15 countries, including the US, Hong Kong, Singapore, and Japan.
Also Read: Generative AI: Unprecedented adoption rates in 2024
Founded in 2020 by co-CEOs Jae-Yoon Kim and Seong Moon, Bering Lab offers domain-specific AI translation engines to handle complex legal document translations.
Its flagship translation platform is BeringAI. According to the startup, BeringAI+, which combines AI technology with expert review by over 500 lawyers and 800 professional translators across over 30 countries, achieves 99 per cent translation accuracy.
Bering Lab claims it serves over 300 clients worldwide, including over 140 law firms.
The company stated that it plans to expand its services beyond legal and patent translations into other specialised areas like finance, life sciences, and IT. It also develops customised enterprise solutions tailored to specific industries, enabling businesses to overcome language barriers and operate more efficiently in a data-secure environment.
Also Read: 5 dimensions of responsible AI: Enhancing societal needs with blockchain
Jae-Yoon Kim, co-CEO of Bering Lab, said, “We are redefining the translation industry with our unique technology and expertise. Our focus remains on empowering professionals across various fields to overcome language barriers and operate seamlessly.”
—
The post Bering Lab raises US$2.3M to take AI-powered legal translation solution beyond Korea appeared first on e27.