Indonesia's Eureka AI gets $20m Series B

Additional contributions came from Singapore government-backed SG Innovate, Pacific Bridge, Cianna Capital, and GDP Venture, an affiliate of Indonesian conglomerate Djarum Group. They join existing investors such as SoftBank, PPF Home Credit, and East Ventures.

Eureka AI’s core product is Spectrum, which it claims organizes mobile telecom data to deliver actionable intelligence that can be used to improve customer service and new customer acquisition. The company collects information across four categories: general market intelligence; audience, which allows companies to understand their customers in greater detail; mobility, which involves studying consumer behavior within urban centers; and risk, specifically credit and insurance scores.

The analytical conclusions can be applied in industries such as banking, insurance, transportation, telecom, and fast-moving consumer goods. At present, Eureka AI is primarily working with mobile operators across Southeast Asia, India, and the Middle East with a collective subscriber base of over one billion customers. It wants to expand into Europe and the US.

“Mobile operators today face twin pressure from pricing pressure and rising costs, whilst facing a shortage of data scientists. By leveraging products on Eureka’s platform, enterprise clients of mobile operators can offer more relevant and personalized services to their customers,” Udayan Goyal, a managing partner at Apis, said in a statement.

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• Topics
• Southeast Asia
• Early-stage
• Technology
• Indonesia
• Apis Partners
• GDP Venture
• Gobi Partners
• TMT