SBI Holdings has also launched a JV with AntWorks to introduce its products and services to domestic and overseas financial institutions

Singapore-based integrated Artificial Intelligence and automation solutions company, AntWorks, has secured US$15 million in Series A funding from SBI AI & Blockchain Fund, a fund owned by Tokyo-based SBI Investments.

This investment will be used to fuel AntWorks’s R&D activities, strengthen its marketing and sales engine, and foray into new markets.

In addition, SBI Holdings (parent of SBI Investments) has also launched a joint venture to tap the opportunities in the emerging AI space in Southeast Asia. By utilising SBI Group’s network, including SBI FinTech Incubation (a group company that already supports regional financial institutions to introduce fintech services), SBI Holdings will introduce products and services offered by AntWorks to domestic and overseas financial institutions through the JV.

Started in 2015, AntWorks provides an operations processing automation platform, called Robotic Process Automation (RPA). It aims to deliver services ranging from AI-based data recognition to automating operations on a single platform. The platform uses a fractal theory-based AI technology to read data in non-unified format documents, called non-standard format documents, which account for 90 per cent of all in-company documents.

It provides solutions to nearly 450 customers and has presence in four continents.

“With this investment, we will work together with SBI Group to bring end-to-end, AI-based enterprise RPA to the globe in a way not done before. Our goal is to empower enterprises in emerging markets like the Philippines, India, China, by unleashing the limitless potential of Machine Learning and Cognitive Automation,” said Govind Sandhu, Co-founder and CFO of AntWorks.

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The RPA platform also has Machine Learning and Natural Language modelling capabilities. As per a statement, the platform can handle unlimited types of non-standard format document that do not have a specific format, such as various financial statements, agreements, and invoices.

SBI A&B Fund has been actively investing in promising startups inside and outside Japan in sectors such as AI and blockchain, fintech, IoT, robotics, and the sharing economy.

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