Singapore-based AI startup 6Estates has completed a Series B round led by Indonesian venture builder GDP Venture.
Central Capital Ventura, the venture arm of Indonesia’s largest private bank Bank Central Asia, also participated in this round.
No financial details of the transaction were disclosed.
According to a statement, the funds will be invested in 6Estates’s proprietary cognitive data intelligence solutions and its global expansion plans.
6Estates also plans to establish an Indonesian office to develop its Natural Language Processing abilities in Bahasa Indonesia. The company will also work with Bank Central Asia to apply its AI solutions to its business.
6Estates was founded in 2014 as a spin-off of NExT, a joint research centre set up by the National University of Singapore (NUS) and Tsinghua University of China. The startup’s AI solutions focus on cognitive data intelligence, with applications in market intelligence for the consumer goods and financial services sectors.
Dr. Luan Huanbo, co-founder and CEO of 6Estates, said: “Due to ever changing consumers’ needs, our clients are looking for ways to not only understand trends better, but also to look out for solutions which can explain why a phenomenon occurred. At 6Estates, we utilize the latest research breakthroughs to create innovative solutions to empower our clients.“
The company secured several finance intelligence projects in China recently, including developing Big Data and AI infrastructure for HengFeng Bank, and building a capital market risk prediction system for South-West Securities.
The company adds that it is expanding its team of R&D machine learning and data scientists, and is aggressively expanding its presence in Southeast Asia and China.