AI startup 6Estates closes Series B funding round from GDP Venture, Central Capital Ventura
GDP Venture from Indonesia leads the Series B round for the Singapore-based company
Singapore-based AI startup focussing on cognitive data intelligence 6Estates has closed a Series B round led by Indonesia’s GDP Venture. Private Indonesian bank Bank Central Asia also participated in the round through its VC arm named Central Capital Ventura.
The financing will be used to invest further in the company’s proprietary cognitive data intelligence solutions and for global expansion.
The company intends to establish an office in Indonesia to tap into the vast opportunities of the 4th most populous nation in the world, to further develop its Bahasa Indonesia Natural Language Processing capabilities, and collaborate closely with Bank Central Asia to apply its AI solutions to enhance the bank’s AI competencies.
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Besides expanding the R&D team of machine learning and data scientists, the company is aggressively expanding its presence within Southeast Asia as well as China, and is on the lookout for potential strategic collaborators.
“6Estates has gained impressive market traction with their ground-breaking AI technology in the burgeoning big data space. With their innovative DNA, they are progressively pushing the boundaries to solve real-world challenges presented by the explosion of data on different digital platforms,” said Martin Hartono, CEO of GDP Venture.
Founded in 2014, 6Estates is an AI-driven intelligence company spun off from NExT, a joint research centre established between National University of Singapore (NUS) and Tsinghua University of China, founded by AI scientists and tech entrepreneurs to solve real-world challenges presented by the explosion of data on different digital platforms. Dedicated in cognitive data intelligence, 6Estates develops state-of-the-art AI technology encompassing Natural Language Processing, Explainable Neural Network, and Knowledge Graph to deliver real-time, actionable insights to businesses to enable smarter decision-making, with a focus on Market Intelligence and Finance Intelligence.
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6Estates’ solutions are currently centered on market intelligence for consumer goods industry and finance intelligence for financial services industry. These cognitive data intelligence solutions are built on cutting-edge AI technology. It combines Natural Language Processing, Explainable Neural Network, and Knowledge Graph to deliver attributes causality analysis and actionable insights for businesses to enable smarter decision-making.
The company claims to have grown over 300 per cent year on year in the last 12 months, driven by demand on market intelligence from Fortune 500 companies which include P&G, Nestle, and Unilever.
“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.
6Estates has also secured several major finance intelligence projects in China such as constructing a big data and AI infrastructure for HengFeng Bank, and building a capital market risk prediction system for South- West Securities.
Photo by Mike Enerio on Unsplash
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