AI startup 6Estates closes Series B funding round from GDP Venture
Singapore-based AI startup focussing on cognitive data intelligence 6Estates announces that it has closed Series B round for undisclosed amount led by Indonesia’s GDP Ventures. Private Indonesian bank Bank Central Asia also participated in the round through its VC Central Capital Ventura, as reported by Deal Street Asia.
A source from the company reveals that the fund will be used to develop the company’s proprietary cognitive data intelligence solutions and to expand globally.
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6Estates is said to plan on establishing an Indonesian office to develop its Natural Language Processing abilities in Bahasa Indonesia, considering two of its backers in this round are from Indonesia. The company will also work with Bank Central Asia to apply its AI solutions to its business.
Founded in 2014, 6Estates was a project of a joint research centre set up by the National University of Singapore (NUS) and Tsinghua University of China called NExT. It provides an AI solutions focussing on cognitive data intelligence that’s being applied in market intelligence for the consumer goods and financial services sectors.
“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,” said Dr. Luan Huanbo, co-founder and CEO of 6Estates.