Singapore AI start-up raises $5.9m Series A

Tembusu is investing via its ICT fund, which reached a first close of S$30 million last November. SGInnovate, the venture capital arm of the Singapore government’s Infocomm Media Development Authority, also participated.

Founded in 2009, Taiger integrates AI and semantic computing technologies to create deep learning systems that can understand unstructured information as a human worker does and process the data into knowledge with practical business applications. The company describes this approach as being in contrast to the pure machine learning work undertaken by most AI developers.

The company claims its iMatch product is capable of automatically extracting, validating and interpreting information from documents as well as replicating the intelligence of a human worker. A European bank currently using the software is said to have recorded an 85% drop in costs and a reduction in processing time from weeks to minutes.

“Taiger's vision is very much aligned with Singapore's smart nation initiative,” Sinuhe Arroyo, founder and CEO of Taiger, said in a statement. “With funding secured, we can now focus on pumping up our sales and R&D efforts here in Singapore and expanding our presence worldwide."

Tembusu, formerly known as SBI Venture Capital, says ICT is the only software-focused venture capital fund in Singapore. The vehicle, which invests primarily in Southeast Asian companies, was selected by the National Research Foundation (NRF) as part of a government co-investment scheme.

SGInnovate has recently sharpened its focus on the Singapore AI ecosystem with the launch of the AI.SG initiative, which is also backed by NRF and the Smart Nation and Digital Government office.

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• Topics
• Southeast Asia
• Technology
• Early-stage
• Singapore
• Tembusu Partners
• TMT
• Venture