<article>Singapore’s state investor <a href="https://www.dealstreetasia.com/tag/temasek">Temasek </a>has led a $40-million investment in New Zealand-based <a href="https://www.dealstreetasia.com/tag/soul-machines/">Soul Machines</a>, an AI company developing digital avatars to help businesses engage with customers.
The round was joined by European VC Lakestar, <a href="https://www.dealstreetasia.com/tag/salesforce-ventures/">Salesforce Ventures </a>as well as existing investors <a href="https://www.dealstreetasia.com/tag/horizons-ventures/">Horizons Ventures</a>, University of Auckland Inventors Fund and others, the company said in a statement.</article>

Singapore’s state investor <a href="https://www.dealstreetasia.com/tag/temasek">Temasek </a>has led a $40-million investment in New Zealand-based <a href="https://www.dealstreetasia.com/tag/soul-machines/">Soul Machines</a>, an AI company developing digital avatars to help businesses engage with customers.
The round was joined by European VC Lakestar, <a href="https://www.dealstreetasia.com/tag/salesforce-ventures/">Salesforce Ventures </a>as well as existing investors <a href="https://www.dealstreetasia.com/tag/horizons-ventures/">Horizons Ventures</a>, University of Auckland Inventors Fund and others, the company said in a statement.
It added that the funding will be used to focus on R&amp;D and expanding its global footprint.
In 2016, the company raised a $7.5 million Series A round led by Horizons Ventures.
Soul Machines was founded in 2016 by Mark Sagar, an Academy Award winner and director of the Laboratory for Animate Technologies at the Auckland Bioengineering Institute, and New Zealand serial entrepreneur Greg Cross.
The company blends AI and computational brain models with experiential learning to develop “lifelike digital humans” that can talk to people face-to-face. Its products HumanOS platform and Digital Heroes have been trusted by global brands such as Procter &amp; Gamble, Mercedes-Benz, The Royal Bank of Scotland, ANZ and Sony.
“Brands now have the opportunity to create a digital version of their ambassadors or an entirely digitally employee, like a service agent, to more effectively interact with their fans and customers in meaningful ways,” Soul Machines said.
The company will soon unveil initiatives in the education and healthcare fields.
“We’re proud to announce Salesforce Ventures’ investment in Soul Machines because it has an obsessive focus on improving customer experience by using artificial intelligence technology in new ways,” said Rob Keith, head of Australia at US-based Salesforce Ventures.
For Temasek, it has added several investments in AI companies since it funded Chinese unicorn SenseTime – the world’s most valuable AI startup. The investments, either directly made or through affiliates and joint ventures, include UK-based Prowler.io, US-based SparkCognition, Singapore’s BasisAI and Advance.ai, among others.
Temasek’s unit ST Telemedia last year launched Leap, a startup that helps Asian companies adopt AI-enabled technologies, with an initial focus on Southeast Asia.
Also through Vertex Holdings, Temasek is targeting AI companies in China and India with the VC extension’s $730 million Vertex Master Fund. The fund has recently fully closed with the backing of other limited partners such as Sumitomo Mitsui Banking Corp, Marubeni, ABeam Consulting and the Development Bank of Japan.

Temasek has led a $40 million investment in New Zealand-based Soul Machines, an AI company developing digital avatars for customer engagement.

Temasek leads $40m Series B funding in NZ's AI company Soul Machines

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Temasek leads $40m Series B funding in NZ's AI company Soul Machines

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