Taiwanese artificial intelligence (AI) startup Appier has raised a US$33 million Series C investment in its latest fundraising, which includes an investment from Singapore’s Economic Development Board (EDBI).
Other participating investors also include Japan’s SoftBank Group, South Korea’s LINE Corporation, and Hong Kong-based AMTD Group.
This funding round brings the total investment in the startup to more than US$82 million, following Appier’s previous US$42.5 million in its two-part Series B round which has been led by Sequoia Capital and Pavilion Capital respectively.
Founded in 2012, Appier’s AI product has been using AI to help enterprises process and identify patterns in a large amount of data in order to further aid businesses in making intelligent decisions.
The firm currently has two products. Its first product being the CrossX Programmatic Platform which implements AI into digital marketing while its second product, Aixon is a data intelligence platform.
Chih-Han Yu, the CEO and Co-founder of Appier said, “We believe artificial intelligence can solve many challenges faced by today’s enterprises.”
“Our platforms have helped our customers succeed in digital advertising and marketing, and we are now looking to bring AI to other parts of the enterprise.”
To this end, Chih also added that Appier will extend its engineering and AI research capabilities beyond Taiwan, with a plan to add a research and development unit in its existing Singapore office.
This will provide the firm an opportunity to collaborate with AI.SG – a national program that allows AI startups and companies to partner with Singapore-based research institutes to develop AI products and grow knowledge in the space, create tools, and develop talent.
But R&D center aside, this latest fund will also be used to hire global talent, as well as to expand its existing portfolio of AI solutions and build more functionality for enterprises who want to take advantage of recent advances in AI technology.
Commenting on the investment, CEO and President of EDBI Chu Swee Yeok said, “Appier has enabled a growing number of brands to develop consumer-adaptive marketing solutions for the digitally savvy Asian market.”
“We look forward to working with Appier as they apply their AI technology to other exciting areas such as predictive analytics for real-time business decision making.”
This news is published on Reuters.