Asia-based artificial intelligence company Appier has announced a fresh round of series B funding totaling $19.5m that it will use for research and development of products.
The company raised the cash from Pavilion Capital International Pte Ltd (a member of Temasek Holdings), WI Harper Group, FirstFloor Capital, and Qualgro, and takes its total series B funding to $42.5m.
The company plans to use the funds to develop more products and announced a new service alongside the funding called Aixon, a marketing data analysis tool that uses artificial intelligence to help business make decisions.
Chih-han Yu, co-founder and CEO, Appier, said: “Businesses today have to make decisions and operate in an increasingly complex, fast-paced and interconnected online and offline environment. Artificial intelligence is the best approach to resolve the complex questions affecting businesses at scale. This funding will enable us to continue to invest in AI-driven business products that help solve some of the problems facing industry today.”
According to Appier its focus will be building products that help businesses find points that are actionable among the swathes of data that is available. It will also look to increase its scale in Asia Pacific.
It follows funding elsewhere in Asia into the marketing artificial intelligence space, after AI Martech startup Nugit received $5.2m in funding from Sequoia India.