AI startup MarqVision raises $16.5 mn to close Series A round

MarqVision Inc., a startup developing an artificial intelligence-powered intellectual property (IP) protection platform, raised 22 billion won ($16.5 million) to close a Series A funding round totaling 50 billion won.

MarqVision founded by South Korean Harvard Law School graduate Mark Lee in 2020 said on Friday that Altos Ventures, Smilegate Investment and Hillspring Investment participated in its latest fundraising in addition to the existing investors such as Y Combinator Management LLC and Atinum Investment.

The Los Angeles-based startup has been expanding its global presence with support from international luxury powerhouse LVMH Moët Hennessy Louis Vuitton (LVMH).

MARQ AI

MarqVision separately introduced Marq AI, its new generative AI product to help customers combat counterfeiting and digital piracy.

Marq AI, which combines its existing services – Marq Commerce on counterfeit goods and Marq Content on digital piracy, uses AI to cut the cost and time to protect brands and IPs, according to the company.

The new product features a conversational assistant, an intelligent dashboard, automated copyright workflows and smart enforcement.

The conversational assistant uses AI to scan and analyze messages across platforms and languages for the world's largest global brands, identifying counterfeit sales with an accuracy of more than 99%, MarqVision said.

The intelligent dashboard provides users with detailed information about why each item has been flagged as counterfeit, according to the startup.

Marq AI automates the entire process to handle copyright infringement from collecting data to sending enforcement notices through its automated copyright workflows.

Write to Joo-Wan Kim at kjwan@hankyung.com
 
Jongwoo Cheon edited this article.