AnyMind Group completes US$21.4 million Series B and acquisition of Thailand’s Moindy Digital

Wed Mar 20, 2019 - 9:27am UTC
AnyMind Group

AnyMind Group

20/3/2019 – AnyMind Group, an AI solutions provider based in Singapore has raised US$8 million in a Series B+ funding from Thailand’s leading offline-to-online solutions provider VGI Global Media Plc (VGI) and Japanese financial services firm Tokyo Century Corporation.

This latest funding round brings the startup’s total Series B to US$21.4 million and a cumulative total funding of US$35.9 million to date, with a strong investor portfolio consisting of LINE, Mirai Creation Fund, and JAFCO Asia.

As part of the investment, AnyMind Group will also form a joint venture firm with VGI, named VGI AnyMind Technology Co Ltd, to integrate digital-out-of-home (DOOH) advertising technology to VGI’s out-of-home advertising spaces in Thailand.

VGI owns the Thai public transport systems and will be able to build and provide an advertising network by integrating DOOH advertising with public transports, billboards, city advertisements, and digital signage that will reach about 40 million people in the country.

This partnership creates a more connected, dynamic and interactive advertising experiences that allows relevant ads to be delivered optimally in real time.

“AnyMind Group’s AdAsia Digital Platform and its advertising technology will simultaneously be integrated into VGI’s digital inventories (worth 7 billion baht) and bridged with Rabbit’s data, allows us to offer a fully integrated solution through the sales and marketing funnel,” said VGI’s CEO Nelson Leung.

More specifically, a camera will be installed on digital signage so that the startup can display advertisements as per preferences and circumstances. This is based on Anymind’s AI and machine learning technology will be able to segment users by analyzing their persona, such as sex, age or religion, and deliver relative content.

In fact, the synergy with VGI will be similar to AdAsia’s pilot DOOH project with East Japan Railway in December 2018 that offers the solutions for serving advertising through digital billboards in train stations and measuring the effectiveness of advertisement through actual view rates and reactions.

“Our objective here is to build a DOOH advertising marketplace across Asia, with a greater aim to bring a future where advertising across all mediums is connected – ultimately providing the most relevant and personalized advertising to everyone, on any platform,” said AnyMind Group’s CEO and co-founder Kosuke Sogo.

In addition to the expansion of DOOH advertising, the proceeds from the Series B will also be used for potential strategic acquisitions in its focused industries which are advertising, influencer marketing & human resources, and acceleration of talent & product growth.

AnyMind also revealed that it has acquired a majority stake in Thailand’s multi-channel network Moindy Digital from TV Thunder Pcl for an undisclosed sum. The Moindy Digital brand will be added to the business portfolio of CastingAsia, which conducts influencer marketing business under the AnyMind Group.

Launched in 2004, Moindy helps independent music labels and musicians monetise their music through digital platforms. After being acquired by the Thai listed television program producer TV Thunder, it has expanded into additional channel verticals including broadcast and celebrity.

“Moindy focuses on premium content management, TV shows, music labels, and celebrities while CastingAsia already has a KOL influencer platform and brand sponsorship network. Together we can support creators by optimizing and monetizing their contents,” Moindy’s managing director and founder Punsak Limvatanayingyong. Moindy currently has over 500 YouTube and LINE TV channels with a reach of 30 million subscribers and 600 million monthly views.

AnyMind Group’s track records include 11 countries expansion in just three years of its active operation. It’s now grown into 400 staffs, catered to two new industries, and acquired FourM in Japan, and Acqua Media in Hong Kong.

This news is published on Reuters.

Vivian Foo is a reporter who writes about Southeast Asia’s technology and startup space. The entry point which led her to write about the startup ecosystem was her fascination of the dot-com boom. She is taking a deep dive into how the entrepreneurial mindset works and hopes to share the insights, innovation, and stories of the startups with her readers.