Litton Technologies has achieved unicorn status as Korea's first AI service platform company to be valued at over 1 trillion won.
The company announced on the 26th that it secured a Series C investment of 100 billion won. During this funding round, Litton was valued at over 1 trillion won, bringing its cumulative investment to approximately 230 billion won.
New investors included Coreline Ventures and Eugene Asset Management, while existing investors such as Goodwater Capital, Antler Global, Woori Venture Partners, Suisei Genesis Partners, Korea Development Bank, and Capstone Partners also participated. Coreline Ventures, a U.S.-based venture capital firm with offices in Menlo Park and Tokyo, has notable investments in Kakao and Ensemble Stars.
Oske Honda, co-founder and partner at Coreline Ventures who led the investment, explained, “Litton's platform is driving the consumer AI movement, revolutionizing how humans create, communicate, and spend time online. We are strongly confident in their exceptional growth, rapid monetization, and the ecosystem impact already demonstrated in Korea, Japan, and the U.S., as well as future growth opportunities.”
Litton Technologies began in 2021 as a writing assistance tool and now operates the AI service 'Litton,' which encompasses search, conversation, document creation, image generation, and character-based dialogue. Its character chat service 'Crack' has rapidly gained users since its standalone app launch in April last year and has become a core revenue driver. 'OOC,' an AI entertainment content platform launched in North America in May, surpassed 10 billion won in monthly sales within three months, proving global competitiveness. This year's revenue is projected to exceed 200 billion won (compared to 47.1 billion won last year).
CEO Seyoung Lee stated, “Over the past five years since founding, we have established ourselves as Korea's leading AI service company and proven global competitiveness, which enabled this successful investment. We will focus on global expansion and service advancement to meet market expectations, growing faster as a safe and trustworthy AI service provider.”
