Singapore-based company Antworks, dealing in Artificial Intelligence (AI) and intelligent automation products and solutions, raised a whopping SGD15 million in Series A funding with investment by SBI Investment Company. The Indian-origin co-founders of the company hope to target opportunities in the AI space in Southeast Asian region.
The investment will help AntWorks to chart on their next level of growth in AI and Enterprise RPA, fuel R&D, strengthen their marketing and sales engine and energise their foray into new markets.
The major investment in Series A funding was made by SBI Investment Company, a subsidiary of SBI Holdings, Inc. To strengthen their commitment, a joint venture between SBI and AntWorks was also announced to tap the tremendous opportunities in the emerging AI space in South East Asia.
AntWorks is the developer and provider of an operations processing automation platform called Robotic Process Automation (RPA), which is characterized by delivering services ranging from AI-based data recognition to automating operations on a single platform.
The platform also has Machine Learning and Natural Language Modelling capabilities which makes it one of the most comprehensive end-to-end automation platforms available.
The company was co-founded by Asheesh Mehra and Govind Sandhu in 2015. It had acquired US-based Benchmark Systems, a healthcare application service provider, for USD5 million in 2015.
Headquartered in Singapore, AntWorks has delivery centres and offices in Australia, India, Philippines, Qatar, Sri Lanka, the United Kingdom and the United States.
“When Govind Sandhu and I started AntWorks with a small, passionate group of people, the dream was to create a company that would serve as a catalyst for enterprises on their digitization journey. SBI Holdings reposing this faith in us with both the investment and the joint venture is a validation and an opportunity to grow and come into what we have always believed.AntWorks can be – a true leader forging a new path, reimagining business as usual,” said Asheesh Mehra, Founder and Group CEO of AntWorks.
“Today I feel pride in our team who have worked so tirelessly and gratitude towards SBI Holdings and towards every employee, partner, analyst and well-wisher who has been on this journey with us. May we remain fresh in our approach, fearless in embracing change and fast in learning, adapting and delivering on everything we stand for as AntWorks,” he added.
“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 Philippines, India, China, etc. — by unleashing the limitless potential of Machine Learning and Cognitive Automation,” said Govind Sandhu, Co-Founder and CFO of AntWorks.
Currently, AntWorks provides solutions to about 450+ customers commanding presence in 4 continents. It is building a business that works with a diverse range of verticals and creates unique deep automation solutions for every industry.