Taiwanese AI developer Appier raises NT$620 mil.
By Christine Chou, The China Post
December 2, 2016, 12:03 am TWN
TAIPEI, Taiwan -- Taiwanese artificial intelligence (AI) startup Appier (沛星互動科技) announced Thursday it had received NT$620 million (US$19.5 million) in foreign funding from its recent Series B round of fundraising.
Appier uses AI technology to analyze how people interact with multiple screens and to provide businesses with insights on multi-screen behavior, to help them make informed decisions.
The fresh funds bring the startup to NT$1.58 billion (US$49.5 million) in total funding from seed, Series A and B rounds.
Investors in the latest round included Temasek-subsidiary investment firm Pavilion Capital International, as well as WI Harper Group, FirstFloor Capital and Qualgro.
The money will be used to finance the development of Appier's AI-powered technology, recruitment efforts and market expansion in the Asia Pacific Region.
"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 resolving complex questions affecting businesses at scale," said Appier co-founder and CEO Yu Chih-han (游直翰). "This funding will enable us to continue to invest in AI-driven commercial services that help solve some of the complicated problems facing various industries."
The firm also announced the pilot launch of a new service — the Aixon Platform, an AI-driven marketing data analysis tool set to launch in Taiwan, Japan and Singapore.
Appier stated businesses trying to reach customers online face mounting complexity as the number and types of screens multiply, and its team sees artificial intelligence as the best approach to make it easy for clients to reach across screens.
According to Appier, the company's revenue has increased 300-percent since its Series B round of financing last year.
"Making data actionable is a huge problem for businesses today. Since it was founded in 2012, Appier has used its unique artificial intelligence technology to help companies make sense of their consumers and their varying journeys across devices," said Nizar Ali, a managing director at FirstFloor Capital. "It has trained a group of talented data scientists and researchers, and we are very confident in the potential of Appier."
Another investor, Qualgro's Heang Chhor, said the fund looked forward to working with the Asia-focused firm to grow and scale its operations in Australia, New Zealand and fast-growing markets in Asia.
Other investors in previous rounds included Sequoia Capital, UOB Venture Management, JAFCO Asia, TransLink Capital and MediaTek Ventures.