"The objective of the fund is to facilitate the continued acceleration of the AI revolution through investment in market-leading, tech-enabled growth companies," the Japanese tech conglomerate said in a statement, adding it was still talking to more potential investors and that the fund was expected to grow.
SINGAPORE: Peer-to-peer lending platform Funding Societies said it raised US$25 million in a funding round led by SoftBank Ventures Korea, an early stage venture capital arm of SoftBank Group.
Existing investors Sequoia India, Golden Gate Ventures and Indonesia's Alpha JWC Ventures also participated in the round, the Southeast Asian firm said in a statement on Wednesday.
Funding Societies, founded in 2015, says it connects small and medium-sized enterprises in Singapore, Indonesia and Malaysia with retail and institutional lenders.
"The funds will primarily be used to develop our products, enhance user experience on our platform and ensure continuous compliance," Kelvin Teo, CEO and co-founder of the company, said in an emailed response to Reuters. - Reuters
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