Paradot, a Seoul, South Korea-based company behind the AI photo platform 'Carat,' has secured a Series A investment of 2 billion KRW ($1.7M).
SaaS Investors
The investment was from Hana Ventures.
Founded in 2018, Hana Ventures is the corporate venture capital arm of Hana Financial Group based in Seoul, South Korea. The firm prefers to invest in seed-stage, early-stage, and later-stage companies operating in consumer products, consumer services, financial services, healthcare, information technology, and life sciences sectors.
Paradot Use of Funds
The company plans to use the funding to establish a creator-centric AI photo ecosystem, expanding its influence as a B2C AI photo creation platform.
About Paradot
Led by CEO Jang Jin-wook, Paradot is a company that creates a camera content platform that connects the camera to the viewer. Its platform, Carat, offers various AI photo services, including AI profiles, pop-up stores, and an AI drawing board, all offered for free. Users can create AI photos in diverse styles using template-based tools. The platform quickly became the largest AI photo creation service in Korea, surpassing 6 million monthly photo creation requests within six months of launching the AI profile service.
Funding Details
Company: Paradot Corp.
Raised: $1.7M
Round: Series A
Funding Month: January 2024
Lead Investors: Hana Ventures
Additional Investors:
Company Website: https://carat.im/
Software Category: AI Photo Platform
Source: https://wowtale.net/2024/01/26/70633/