Subtitle and Dubbing Company iYUNO Secures 180 Billion KRW Investment from SoftBank

Hyunmoo Lee, CEO of IUNO

[Asia Economy Reporter Buaeri] IU Nomi Media Group announced on the 9th that it received an investment of $160 million (approximately 180 billion KRW) from SoftBank Vision Fund 2.

IU Nomi is a global content localization specialist company providing services such as translation, subtitles, and dubbing to online video services (OTT) and media companies. Since its establishment in Korea in 2002, it relocated its headquarters to the UK in 2019 to accelerate its global business.

This year, IU Nomi became the global number one company in the related field by acquiring SDI Media, the number one company in the US. Currently, it can handle more than 80 languages through 67 branches in 34 countries, including Korea.

It is responding to content localization demands by building an artificial intelligence (AI) and cloud-based technology platform.

SoftBank Ventures also invested 24 billion KRW in IU Nomi in 2018.

Moon Kyuhak, Managing Partner of SoftBank Vision Fund, said, "IU Nomi is a key player that industrialized media localization work, which has historically been small-scale manual labor, based on digital technology," and added, "We decided to invest because we expect media localization businesses such as dubbing and subtitles to grow significantly with AI."

Lee Hyunmoo, CEO of IU Nomi, said, "Through the Vision Fund investment, we will further expand AI-based automatic translation, process automation, and voice cloning technology in dubbing, enabling us to focus more on the creative areas unique to humans."

This content was produced with the assistance of AI translation services.