Singapore's GIC invests in US-based AI workspace Notion

Singapore's GIC invests in US-based AI workspace Notion

FILE PHOTO: A signage of Singapore’s sovereign wealth fund GIC is pictured at their office in Singapore July 13, 2023. REUTERS/Edgar Su/File Photo

Singapore sovereign wealth fund GIC has invested in artificial intelligence (AI) workspace player Notion,  along with existing investors Sequoia Capital and Index Ventures.

According to an announcement, these investors are purchasing shares directly from current and former Notion employees, for a total tender of around $270 million at a valuation of $11 billion.

Notion, which is based in San Francisco with offices around the world, is an all-in-one workspace that brings everyday work tools into a single, flexible platform.

The company claims that in 2025, Notion’s growth rate accelerated on the back of AI adoption within our platform. At the end of last year, more than 50% of our ARR came from AI-enabled customers, and that percentage more than doubled over the last year.

The company recently opened an office in Singapore, alongside its other regional offices in Tokyo, Seoul, and Sydney.

“One of the reasons we’re so thrilled to partner with GIC is because of their expertise in supporting growth in APAC and across the globe, as well as their commitment to the long term. They think in decades, not quarters. When we thought about who would be a values-aligned investor for the future of Notion, GIC was an obvious choice,” Notion said in the announcement.

In November last year, GIC led a $91 million Series B round in Infravision, a US-based developer of aerial robotics systems for powerline construction and maintenance.GIC also led a $1.6-billion funding round in US-based Vantage Data Centers, which develops and operates large-scale, sustainable data centre campuses for cloud providers, hyperscalers, and enterprise clients.

Edited by: Padma Priya

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