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 . MarqVision separately introduced Marq AI, its new generative AI product to help customers fight against counterfeiting and digital piracy.
Marq AI, which combines the existing services – Marq Commerce on counterfeit goods and Marq Content on digital piracy, cuts the costs and times through AI to protect brand and IP, according to the company. The new product features a conversational assistant, intelligent dashboards, 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.
Intelligent dashboards provide users with detailed information on why each item is flagged as counterfeit, according to the startup. Marq AI automates the entire process to handle copyright infringement from collectin.
