The MBA Fund and SBVA (previously SoftBank Ventures Asia) are among the investors in Bering Lab, a South Korean business that uses artificial intelligence to power legal translation. The startup has announced a US$2.3 million pre-Series A investment.
The business intends to use the additional funds to improve customer experience and quicken international expansion.
As of right now, Bering Lab is present in fifteen nations, including the US, Singapore, Hong Kong, and Japan.
Co-CEOs Jae-Yoon Kim and Seong Moon founded Bering Lab in 2020 to provide domain-specific AI translation engines for translating complicated legal documents.
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BeringAI is its principal translation platform. The business BeringAI+ claims to achieve 99 percent translation accuracy by combining AI technology with expert assessment by more than 800 professional translators and 500 lawyers in more than 30 countries.
The business announced that it intends to extend its offerings into other specialised fields like banking, health sciences, and IT in addition to legal and patent translations.
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Additionally, it creates specialised corporate solutions for particular industries, assisting companies in overcoming communication challenges and maximising productivity in a data-secure setting.
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.”
About Bering Lab
Bering Lab is a renowned legal and business document AI translation provider. BeringAI+, which supports seven languages, launched in 2023 and sold record numbers. The innovation won the Huawei Cloud Startup Ignite Competition and placed second at the global SLINGSHOT competition.
