Pand.ai Bags Pre-Series A Funding From Bangkok Bank’s Corporate VC Armby Company Announcement January 21, 2020
Singapore-based AI start-up Pand.ai has secured an undisclosed amount in Pre-Series A funding from Bualuang Ventures, the corporate venture capital (CVC) arm of Bangkok Bank.
This new funding round comes less than 3 months after the company announced its first round of USD 1M from a HK-based angel investor.
Founded in 2016, Pand.ai serves financial institutions around South East Asia with its proprietary AI-powered chatbots. They claim to be able to help clients improve marketing efficiency between 5 to 10 times and they count Allianz, Great Eastern, Schroders and Tokio Marine.
With this funding, Pand.ai plans to expand the resources of its NLP Lab in Singapore that focuses on developing conversational AI engines for Southeast Asian languages.
Mr. Chuang Shin Wee, co-founder and CEO of Pand.ai, said:
“There is a shortage of high-quality conversational AI engines for many Southeast Asian languages, and we want to fill this gap. We have enjoyed a fantastic relationship with Bangkok Bank working on joint research projects together, so I’m incredibly excited to welcome Bualuang Ventures as an investor, and look forward to working with them and the Bangkok Bank team to scale our technology to reach even more customers in Southeast Asia.”