Social Venture Sovoro announced on December 21 last year that it attracted $0.44M USD (500M KRW) from d3jubilee partners.
Sovoro is currently developing and operating an artificial intelligence text-translation service under the same name. In particular, it provides real-time subtitles at low cost to people with hearing loss who have had difficulty using high-cost existing translation services. Lectures in English at universities are also possible. Not only Korean, but also English, Chinese, Japanese, etc. can be configured, so foreign languages can be seen as subtitles.
Sovoro’s cumulative purchase time since its official launch of the service has exceeded 3,500 hours and is getting a good response from Deaf institutions and related schools. Currently, a total of 18 educational institutions and general institutions, including the National Institute of Special Education, Seoul Ahwa School, Cheongeum Rehabilitation Center, and the Korea Employment Agency for the Disabled, are used.
“Sovoro is a technology-based startup in the field of Reha(rehabilitation) Care, which is currently receiving much attention, and it has a mission to solve communication problems of deaf people in educational institutions and hospitals. In the future, the company is expected to create bigger impact as diverse institutions and individuals utilize the Sovoro.”
Shin Hyun-soo, an official of d3jubilee Partners who conducted the investment.
“If we focused on verifying the service after going through a accelerating by Sopoong last year, we will focus on expanding the service so that more schools, medical institutions, and government offices can communicate with each other through this investment,”
Yoon Ji-hyun. CEO of Sovoro
