Singapore based AI platform AntWorks raises USD 15 million (about Rs 103 crore) from SBI Investment Co Ltd, a subsidiary of Japan’s SBI Holdings, Inc.
The funding will use in enterprise RPA (Robotic process automation), fuel R&D and foray into newer markets.
Antworks has delivery centers and offices in Singapore, Australia, India, the Philippines, Qatar, Sri Lanka, the United Kingdom, and the United States.
Co-founded by Asheesh Mehra and Govind Sandhu in 2015, Antworks have more than 450 customers globally.
In October 2015, the company purchased Benchmark Systems, a company based in the United States. At the time, AntWorks primary delivery system was in Pune, India. Its first year, the company had $11 million in revenue.
The funding will help AntWorks and SBI Holdings to enter into the opportunities in the emerging AI space in South East Asia.
“With this investment, we will work together with SBI Group to bring end-to-end, AI-based enterprise RPA to the globe… Our goal is to empower enterprises in emerging markets like Philippines, India, China, etc – by unleashing the limitless potential of machine learning and cognitive automation,” AntWorks co-founder and CFO Govind Sandhu said.