According to The Korea Economic Daily Global Edition,
Iyuno-SDI Group, a South Korean content localization firm, has received $160 million in funding from SoftBank Vision Fund 2, a follow-on investment to the $23.5 million funding in 2018, according to the company on Apr. 9.
"Iyuno was the driving force in transforming media localization services from manual work to digital technology," said Moon Gyu-hak, managing partner at SoftBank Vision Fund, who explained the latest investment was backed by anticipation over the strong growth potential in the media localization service market aligned with the adoption of artificial intelligence technology.
Iyuno-SDI specializes in providing localization services such as translations, subtitles, and dubbing for over-the-top (OTT) services, media and entertainment companies. The company offers localization services in around 80 languages.
The company was established in Korea in 2002, and then relocated its headquarters to Singapore in 2011. In 2019, the company moved its headquarters to the UK as it acquired Europe's leading localization firm, BTI Studios.
In January this year, the company also acquired SDI Media, a California-based localization services provider.
The latest investment will make SoftBank Vision Fund 2 one of the major shareholders of Iyuno-SDI. The company plans to use the funds to advance its technologies.
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By Jong-woo Kim (jongwoo@hankyung.com)
Danbee Lee edited this article.
Source: The Korea Economic Daily Global Edition (Apr 9, 2021)