Japan advertising AI start-up Flux raises $32m Series B
DNX Ventures has led a JPY 4.4bn (USD 32m) Series B round for Japan’s Flux, which helps businesses manage advertising strategies via a no-code artificial intelligence (AI) platform.
Archetype Ventures, Aozora Corporate Investments, Salesforce Ventures, Sony Innovation Fund, SMBC Nikko Securities, and NTT Docomo Ventures also participated. It follows a JPY 1bn investment featuring DNX and Archetype in 2021.
Flux’s core proposition is to help companies investing in AI systems in areas such as predictive analytics and natural language processing to maximise their return on investment by simplifying implementation.
The development of AI systems that are usable for a specific company’s various purposes is a significant burden in time and costs. Flux claims to improve efficiency in this process by allowing companies to create different AI applications on the same architecture.
The company maintains a common database, which collects more than 100 terabytes of data a month across services. Those data are used to train models to increase performance for each service, while maintaining compliance with data governance best practices and privacy regulations.
More than 1,100 publishers and advertisers use Flux services, according to a statement. Enterprise customers make up the largest customer segment. The company claims strong customer satisfaction, noting that the churn rate across its services has stayed around 0.2% for the past few years.
The fresh capital will be used to enhance existing products in digital advertising and marketing, including tools for optimizing ad revenue, ad operations, and online audiences. This will coincide with the introduction of new features related to generative AI for marketing.
There are also plans for R&D in predictive analytics and language processing, while exploring more use-cases beyond advertising and marketing. The company said it would hire more AI engineers as part of this process.
More on North Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.