South Korean AI startup Wrtn completes funding at $870 million valuation

PANews reported on August 26, according to Jin10 citing foreign media, that South Korean AI service platform Wrtn Technologies has completed financing at a valuation of 1.2 trillion won (about $870 million) to support its global expansion. The Seoul-based startup said in a statement that its Series C round raised about 100 billion won. After this round, Wrtn's cumulative funding reached about 230 billion won. The statement said Wrtn's North American AI narrative platform OOC has surpassed 10 billion won in monthly revenue since its launch in May. The platform allows users to create or enter fictional worlds and interact with AI characters. Buoyed by this momentum, Wrtn expects annual revenue to exceed 200 billion won this year, a sharp increase from about 47 billion won last year.