Egune AI Raises $3.5M to Scale Mongolia’s AI Infrastructure and Cultural Innovation
Egune AI, Mongolia's first foundational artificial intelligence platform, has been able to secure a $3.5 million equity investment from Golomt Bank, Mongolia's largest commercial bank according to e27. This major investment is a turning point in Mongolia's digital revolution, enabling Egune AI to scale its technology, enhance service accessibility, and strengthen the country's AI infrastructure.
A Pioneering Move in Mongolia's AI Advancement
Egune AI, launched in 2022, was designed with the aim of building a super-intelligent digital assistant that is deeply embedded in the Mongolian language, culture, and cognitive identity.
With this strategic funding, the valuation of Egune AI has reached $38.5 million, making it Mongolia's highest-valued tech company and further establishing the country as a rising global leader in sustainable and culturally relevant AI development.
Mongolia’s Rising AI Competence
Since its inception, Egune AI has rapidly made strides, becoming the eighth country globally to independently develop and train its own foundational AI model. In just under three years, the company has trained more than 2,100 AI models, launched a comprehensive suite of AI-powered tools, and reached over 24,000 daily users. It now commands more than 70% of the Mongolian AI market, further positioning the company as a driving force in the region’s AI sector.
Tackling Global AI Disparities
Egune AI’s mission is to bridge the global disparities in AI development by creating a culturally relevant, nationally owned AI system for Mongolia. In a global environment where AI technologies are mostly English-language-centric, Egune AI keeps Mongolia's language, culture, and identity alive and empowered in the digital era.
This culturally informed solution tackles the threat of language colonization and ensures Mongolia has sovereignty over its digital destiny.
In the process, Egune AI addresses structural inequalities by offering developing countries the means to gain access and leverage the power of cutting-edge AI technologies. It shows how to establish low-cost AI infrastructure, even where resources, experience, and knowledge are scarce.
By orienting AI development towards national heritage and priorities, Egune AI facilitates inclusive and equitable AI development, making Mongolia a leader among emerging economies in the age of AI.
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Golomt Bank's Commitment to Innovation
Badral Sanlig, Founder and CEO of Egune AI, said, “This investment is not just about technology, it is about national identity, dignity, and opportunity. We are building AI that understands Mongolian people, speaks our language, and reflects our way of thinking.”
He added, “Golomt Bank’s support brings us closer to realising our vision of AI that serves everyone, regardless of cultural and linguistic barriers.”
For Golomt Bank, the investment underscores a deep commitment to supporting homegrown innovation and establishing Mongolia as a global leader in ethical and culturally relevant artificial intelligence.
