Riyad TAQNIA Fund invests in Eureka

Source: DealStreetAsia

Singapore-based artificial intelligence (AI) enterprise software company Eureka has raised $20 million in a Series B funding round co-led by a global investor group of Apis Partners, Gobi Partners, Riyad TAQNIA Fund – RTF, and MEC Ventures, according to a statement.

Other investors who participated in the round include SG Innovate, GDP Ventures, Pacific Bridge and Cianna Capital along with its existing backers Softbank, PPF Home Credit, and East Ventures.

Founded in 2017, Eureka claims to deliver actionable intelligence at scale, thereby enabling mobile operators and enterprises to partner and serve their customers better.

The company said that the fresh funding will be used to support its international expansion plans and further develop its product portfolio.

“We are really excited to be investing in Eureka. Mobile operators today face twin pressure from pricing pressure and rising costs, whilst facing a shortage of data scientists. By leveraging products on Eureka’s platform, enterprise clients of mobile operators can offer more relevant and personalized services to their customers,” said Apis Managing Partner Udayan Goya.

At present, Eureka caters to operators across Southeast Asia, India, and the Middle East. It is in the process of expanding to Europe and the US.

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