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Singapore-Backed AI Firm Taiger Wins $25 Million From Investors
Posted on Monday July 08, 2019
(Bloomberg) -- Taiger, an artificial intelligence startup whose clients include Bank of America Corp, AIA Group Ltd. and Banco Santander SA, has raised $25 million of funding for its expansion.The company’s valuation will reach $110 million after the investment, according to a statement from the Singapore-based startup. The series B funding round has been led by PacificBridge Asset Management, an affiliate of U.S. buyout firm TPG Capital, and Hong Kong-based merchant bank and asset manager MCM Investment Partners.The Singaporean government, an anchor investor in Taiger via its SGInnovate organization, has also committed funds to help boost the company’s growth in its home country. Taiger also plans to launch its services in South Korea and Japan, and further expand its footprint in the Americas specifically Mexico.Taiger’s AI solutions use human-like logic to automatically read, understand and extract information, helping companies and government agencies reduce operating costs and optimize processing time. The startup expects to keep up its revenue growth momentum by expanding in areas such as the legal sector, according to its founder and chief executive officer Sinuhe Arroyo.“We expect to close a number of new international clients later this year,” he said in the statement.To contact the reporter on this story: Manuel Baigorri in Hong Kong at email@example.comTo contact the editors responsible for this story: Fion Li at firstname.lastname@example.org, Yudith HoFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Is There Now An Opportunity In AIA Group Limited (HKG:1299)?
Posted on Thursday July 04, 2019
AIA Group Limited (HKG:1299) saw a double-digit share price rise of over 10% in the past couple of months on the SEHK...
Is AIA Group Limited (HKG:1299) Potentially Underrated?
Posted on Wednesday May 29, 2019
I've been keeping an eye on AIA Group Limited (HKG:1299) because I'm attracted to its fundamentals. Looking at the...
AIA Group posts 18 percent rise in first-quarter value of new business, boosted by China
Posted on Thursday May 09, 2019
AIA's value of new business, which measures expected profits from new premiums and is a key gauge for future growth, rose to $1.17 billion for the three months ended March 31, up from $1.02 billion a year earlier. The insurer, originally founded in Shanghai nearly 100 years ago and the first foreign insurer to be granted a licence in China, has been expanding its presence in China amid Beijing's broader agenda to open up its financial sector to greater foreign participation. The company said in a statement to the stock exchange that the value of new business in Hong Kong, its key market, generated "double-digit" growth, but did not give a number.