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XL8 Raises USD 3m Bridge to Accelerate Machine Translation in Media Localization
Summary
XL8 is a machine translation startup that has raised USD 3m in a pre-series A round led by Korean venture capital firm Atinum Investment. The funds will be used to develop XL8's machine translation engine and products for media localization and live translation services. Atinum Investment focuses on growth-stage startups, and its portfolio includes language data company Flitto. Atinum will help XL8 achieve market penetration in Asia through the VC's presence in the region, which includes a new office in Singapore. The machine translation engine trained by XL8 is optimized for media content and is claimed to outperform other MT engines in the media domain. The company measures translation accuracy by how many machine-translated sentences can be used without modification. XL8 is expanding its language offerings according to client demand, with a focus on Southeast Asian languages. The company is also looking to expand into Turkish and Eastern European languages in the next few years.
Q&As
What is XL8?
XL8 is a machine translation startup based in Silicon Valley.
What does XL8 do?
XL8 provides machine translation optimized for media content.
How much money has XL8 raised?
XL8 has raised USD 3m in a pre-series A led by Korean venture capital firm, Atinum Investment.
What is Atinum?
Atinum is a Korean venture capital firm that focuses on growth-stage startups.
What is the relationship between XL8 and Iyuno?
XL8 founder Tim Jung has known Iyuno-SDI CEO David Lee for 20 years. Jung developed Iyuno's first proprietary software, a subtitling tool called MediaTrans.
AI Comments
👍 This is a great article on a promising startup in the machine translation industry. I'm excited to see what they accomplish in the coming years.
👎 I'm not convinced that machine translation is ever going to be good enough to replace human translators. This article seems to be trying to sell me on the idea and I'm not buying it.
AI Discussion
Me: It's about a machine translation startup called XL8 that raised 3 million dollars in a pre-series A led by Korean venture capital firm, Atinum Investment.
Friend: Interesting. What are the implications of this article?
Me: The implications of this article are that the machine translation industry is growing and that XL8 is a company to watch in this space. Additionally, it's interesting to note that the majority of the demand for XL8's services is coming from English to Southeast Asian language translations, rather than English to Korean.
Action items
- Learn more about machine translation and its potential applications in the media industry.
- Explore the XL8 blog to learn more about the company's Context Awareness model.
- Stay up to date on the latest developments in the field of machine translation, including new applications and advances in technology.
Technical terms
- Machine translation (MT)
- A technology that automatically translates text from one language to another.
- Silicon Valley
- A region in the western United States that is home to many technology companies.
- Atinum Investment
- A Korean venture capital firm.
- Tim Jung
- CEO of XL8.
- Bridge round
- A type of funding that is typically used to fill the gap between a startup's early stage funding and its next round of funding.
- SAFE
- A Simple Agreement for Future Equity, which gives the investor the right to buy shares at a future equity round.
- Kosdaq
- A stock market in South Korea.
- Flitto
- A language data company.
- SaaS
- Software as a service, a type of software that is typically delivered to customers over the internet.
- Iyuno-SDI
- A media localization company.
- FAST
- Free Ad-Supported Streaming Television.
- CTV
- Connected TV.
- M&E
- Media and entertainment.
- SlatorCon
- A conference organized by Slator, a news and research website for the language industry.