SK networks invests $22 mil. in US AI device company Humane

Officials from SK networks and Humane pose during an investment signing ceremony in Las Vegas, U.S. Jan. 6. They are, from left, Samuel Kim, managing director of SK networks' Hico Capital, Sunghwan Choi, president & COO of SK networks, and Bethany Bongiorno and Imran Chaudhri, co-founders of Humane. Courtesy of SK networks

By Kim Hyun-bin

SK networks has invested $22 million in the U.S. artificial intelligence (AI) device company, Humane.

SK networks initiated both direct and indirect investments totaling $22 million in the Series C round, via Hico Capital, a U.S. investment firm, securing a 2.6 percent stake according to SK networks, Thursday.

New investors such as Microsoft, Volvo, LG Technology Ventures, and SK networks, along with existing investors such as Sam Altman, the founder of OpenAI and Tiger Global took part.

Humane is a company that develops next-generation conceptual devices after the mobile phone era using AI. Its co-founders, Imran Chaudhri and Bethany Bongiorno, are former Apple employees famous for their participation in the release of IT devices and software, such as the iPhone and iPad. Humane's strategy is to accelerate its mission to provide AI-driven next-generation personal mobile computing by creating an innovative software platform and devices based on AI.

SK networks evaluated Humane's growth potential as high and thus decided to pursue the investment. In addition, the company also took note of the fact that Humane is a start-up founded by key personnel who led Apple's IT device innovation and that Humane is cooperating with global partners such as Microsoft, Qualcomm and OpenAI.

Based on this investment, SK networks plans to pioneer the global market through cooperation with Humane, recognizing its global-level network and investment expertise in the AI field.

"Following our investment in Standard Cognition, an unmanned store automatic payment solution company, in 2021, this investment in Humane will enable us to establish a cooperative system with B2C and B2B companies that utilize AI computing solutions," Kim Samuel, managing director of SK networks Hico Capital, said. "We will strategically expand our investment in technology companies centered in Silicon Valley, raise the corporate value, and share it with stakeholders."