akros technologies, fintech, news

South Korean artificial intelligence (AI)-driven fintech start-up Akros Technologies announced on Friday the that it has raised $2.3 milion in a strategic funding round prior to the scheduled Series A funding round next year.

The strategic investment was led by ZVC, the corporate venture capital (CVC) of Z Holdings which has global mobile platform LINE Corporation, and Yahoo Japan as its subsidiaries, Akros Technologies said in a statement.

The company will utilize the fund raised to further scale its investment product line-ups and partner with both local and global financial institutions already in discussion to expand the portfolio management as a service (PMaaS) business through multiple product launches.

“Akros Technologies continues to focus on engineering technology to disrupt asset management by boosting its fund business and by attracting new global players to expand the boundaries of the traditional asset management,” said its Co-Founder and Chief Executive Officer Kyle Moon.

Founded in 2021, Akros Technologies is an AI-driven fintech start-up with the mission “engineering disruptive finance”.

Stemming from its core strength in asset management, the firm serves to provide “better yield and better return” to investors worldwide by developing and managing investment products with planned expansion into Asia, Europe and North America.

The firm manages its own exchange traded funds (ETFs) powered by proprietary machine learning models and private computing cloud.

The company has recently launched its second line of business termed PMaaS to provide business to business (B2B) clients with the cloud-based modern infrastructure to help build their own investment products from simple ideation to actual product launch.

Last May, Akros Technologies launched ‘Akros Monthly Payout ETF’ which aims for monthly distributions at an annualized target rate of 7 percent, and more recently, assisted its B2B client to list the ‘KPOP and Korean Entertainment ETF’ on the New York Stock Exchange (NYSE).

 “Development in technology and infrastructure has brought prominent changes in finance. While its effect on payments, remittances, and lending domains has been significant, the impact on asset management is still believed to be at a preliminary stage,” said Yousik Han, Principal at ZVC.

Han further commented that “Akros’ AI-driven PMaaS Solution, subject to both asset managers and non-asset managers alike, provides them with the opportunity to develop high-quality investment products at a low cost and is thereby expected to offer more value to end-customers”.

As a strategic investor, he said ZVC also plans to support Akros’ business expansion from multiple angles.

The core competencies of Akros Technologies are its precise data infrastructure, hardware infrastructure and human resources.

The firm’s data infrastructure processes over 100,000 point-in-time data points of five million types ranging from company fundamentals and price data, natural language data including those from social media and news.

Its hardware infrastructure allocates over 140,000 computing cores for researchers to conduct experiments on parallel data pre-processing, deep learning model training and inference, and other meta-research.

Akros Technologies was founded by the experienced trio Kyle Moon, Jin Chung, and Justin Gim. The company currently has seven employees.


Don’t Treat Your Plug-In Hybrid Like an EV

Blue Planet Studio/Shutterstock.com Plug-in hybrid electric vehicles (PHEVs) are an excellent choice for buyers who want to spend less time at the gas pump and enjoy the efficiency of an EV without going all-in on the technology. That said, there are several things you’ll want to consider, and don’t treat ...

View more: Don’t Treat Your Plug-In Hybrid Like an EV

6 other zombie shows and movies to watch if you’re loving The Last of Us

HBO has done it once again, delivering via the apocalyptic The Last of Us yet another prestige drama that’s become the network’s newest must-watch series — one about which both critics and fans have not stopped raving since its debut this past weekend. Ahead of episode two of the ...

View more: 6 other zombie shows and movies to watch if you’re loving The Last of Us

Anker’s New Monitor Stand Doubles as an All-In-One Docking Station

Anker The average USB docking station is just an ugly gray box. So, for those who want something a bit more flashy, Anker is launching the 675 12-in-1 USB Docking Station, which doubles as a monitor stand. It’s an impressive-looking product, and it offers plenty of ports for all ...

View more: Anker’s New Monitor Stand Doubles as an All-In-One Docking Station

M2 Pro and M2 Max benchmark results show a 30% faster GPU

Geekbench scores already showed how faster the M2 Pro processor is compared to the M1 Max chip in CPU performance. Now, new tests spotted by MacRumors highlight the graphic performance of the M2 Pro and M2 Max are about 30% faster than their predecessors. These tests align with what ...

View more: M2 Pro and M2 Max benchmark results show a 30% faster GPU

TikTok EU ban on the table if social network doesn’t comply with new laws

TikTok is one of the most popular social networks out there. But TikTok is also a cause of concern for western governments that worry about the company’s ties to the Chinese government. TikTok can’t run on most devices the US government issues, and there has been talk of a ...

View more: TikTok EU ban on the table if social network doesn’t comply with new laws

Don’t Buy a Foldable Until Samsung Brings This Prototype to Life

Samsung Display via The Verge The world of foldable phones is surprisingly stagnant. The Galaxy Z Fold gets a tiny little upgrade every year, and rival phone brands loosely copy Samsung’s homework. But a new Samsung Display prototype called the “Flex In & Out” could turn this narrative on ...

View more: Don’t Buy a Foldable Until Samsung Brings This Prototype to Life

‘Budget’ MacBook Air workstation doesn’t look cheap [Setups]

It's a “budget” setup, but it really doesn't look it. Photo: Christian Panea@Workspace Setups Addict Some budget computer setups look the part — cheap, utilitarian, uninspired, incomplete — and others don’t. Today’s featured setup falls in the latter category. You look at the well-equipped workstation and the word “cheap” ...

View more: ‘Budget’ MacBook Air workstation doesn’t look cheap [Setups]

Best free sports streaming apps in 2023

Cutting the cord on cable television is something tons of people have done over the past five years. But that hasn’t proven to be the smartest way to continue to watch sports. Whether it comes from premium sports website subscriptions to keep tabs on your favorite players, or even fantasy ...

View more: Best free sports streaming apps in 2023

Today in Apple history: Sequel to ‘1984’ Mac ad bombs hard

Avengers 5 might have Ant-Man in it, Quantumania star teases

Sharing a Netflix Account? Get Ready to Pay For It

‘7 Wonders’ Board Game Gets a New ‘Edifice’ Expansion

Saddle up for some solitaire with Pocket Card Jockey: Ride On!

T-Mobile Kicks Off 2023 With Another Data Breach

Apple appeals to UK competition watchdog investigation about mobile browser dominance

Galaxy S23 Ultra release date and specs leak finally reveals everything about the new model

Wave 1 of Fire Emblem Engage icons arrive on Switch Online, lots more on the way

WhatsApp for iOS rolling out the ability to create a chat with yourself

New Pokémon plushes turn the tables and “Hug You!”

Amazon Prime Music Unlimited changes streaming prices, now matches Apple Music


Top Car News Car News