Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

Singapore-backed AI startup Taiger raises $25m

Artificial intelligence start-up Taiger has raised $25 million in a  series B funding round led by PacificBridge Asset Management and Hong Kong-based merchant bank MCM Investment Partners.

The Singapore-based company, which has now reached a $110 million evaluation, counts clients such as Bank of America Corp, AIA Group Ltd. and Banco Santander SA.

With the new investment, Taiger said they are planning to launch their services in South Korea and Japan, as well as expanding in the Americas, specifically Mexico.

“With this funding and Taiger’s innovative technology, the company is well-positioned to capture growth in the vast and explosive AI industry”, said Adrian Valenzuela, Co-Founder and CEO of MCM Partners.

“We look forward to continuing to work with the company and its excellent team to realise its global ambitions. An interesting aspect of this fundraising is the participation by strategic investors in Mexico, which is unique for a Singapore-based corporate, and demonstrates the increasing mutual interest between Southeast Asia and Latin America.”

The company’s artificial intelligence solutions use human-like logic to automatically read, understand and extract information from workflow software and databases. By doing so, it helps companies and government agencies to reduce operating costs and optimise processing time.

Commenting on the news in a press statement, Taiger founder and chief executive officer Sinuhe Arroyo said he expects the start-up will keep up this revenue growth momentum by expanding in areas such as the legal sector.

“We recently expanded into the legal sector, where we see tremendous opportunity, and we expect to close a number of new international clients later this year, further strengthening our global reach.”

Image via PXhere.


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