AI Startup 6Estates Raises Series B from GDP Venture and BCA Central Capital Ventura
- 11 February 2019
SINGAPORE, Feb. 12, 2019 /PRNewswire/ -- 6Estates, an Artificial Intelligence company that delivers real-time, actionable insights to businesses announced today that it has successfully completed a Series B funding round. The financing will be used to invest further in the company''s proprietary cognitive data intelligence solutions and for global expansion.
The round was led by GDP Venture and participated by Central Capital Ventura, the venture arm of Bank Central Asia,Indonesia''s largest private bank.
"6Estates has gained impressive market traction with their ground-breaking AI technology in the burgeoning big data space. With their innovative DNA, they are progressively pushing the boundaries to solve real-world challenges presented by the explosion of data on different digital platforms. We are very excited to invest in the company and lead its Series B round," said Mr.Martin Hartono, CEO of GDP Venture.
6Estates'' solutions are currently centered on market intelligence for consumer goods industry and finance intelligence for financial services industry. These cognitive data intelligence solutions are built on cutting-edge AI technology. It combines Natural Language Processing, Explainable Neural Network, and Knowledge Graph to deliver attributes causality analysis and actionable insights for businesses to enable smarter decision-making.
The solid vote of confidence from investors reflects the company''s significant revenue growth of over 300% year on year in the last 12 months, driven by demand on market intelligence from Fortune 500 companies which include P&G, Nestle, and Unilever. 6Estates has also secured several major finance intelligence projects inChina such as constructing a big data and AI infrastructure for HengFeng Bank, and building a capital market risk prediction system for South-West Securities.
One of 6Estates'' latest products, Market Innovation Knowledge Advisor (MIKA) leverages on advanced Explainable AI to identify the impact each product attribute brings in a product''s sales. MIKA identifies upcoming consumer trends and key purchasing attributes which allow brands to better undergo product design as well as communicate effectively to maximize marketing effectiveness.
"Due to ever changing consumers'' needs, our clients are looking for ways to not only understand trends better, but also to look out for solutions which can explain why a phenomenon occurred. At 6Estates, we utilize the latest research breakthroughs to create innovative solutions to empower our clients," said Dr. Luan Huanbo, Co-Founder and CEO of 6Estates.
"Within the financial sector, 6Estates applies our robust information extraction and machine reading comprehension technology to help our clients transform unstructured documents to structured knowledge which enable process and intelligence automation. We are currently exploring the application of our technology within trade finance and capital market with several institutions," Dr. Luan added.
The company intends to establish an office in Indonesia to tap into the vast opportunities of the 4th most populous nation in the world, to further develop its Bahasa Indonesia Natural Language Processing capabilities, and collaborate closely with Bank Central Asia to apply its AI solutions to enhance the bank''s AI competencies.
On Lee, CTO of GDP Venture, CEO/CTO of GDP Labs, said, "Founded by winner of ACM Achievements Award, ProfessorChua Tat-Seng, CEO Dr. Luan Huanbo and CTO Dr. Wang Chao, 6Estates is a world-leading expert in AI. They have assembled a world-class AI team. They are one of the best AI companies in the world, combining industry experience and academic expertise," On Lee will join the company''s Board of Directors.
Besides expanding the R&D team of machine learning and data scientists, the company is aggressively expanding its presence withinSouth East Asia as well as China, and is on the lookout for potential strategic collaborators.
Headquartered in Singapore, 6Estates (www.6estates.com <http://www.6estates.com/>) is an AI-driven intelligence company spun off from NExT, a joint research centre established betweenNational University of Singapore (NUS) and Tsinghua University of China, founded by AI scientists and tech entrepreneurs to solve real-world challenges presented by the explosion of data on different digital platforms. Dedicated in cognitive data intelligence, 6Estates develops state-of-the-art AI technology encompassing Natural Language Processing, Explainable Neural Network, and Knowledge Graph to deliver real-time, actionable insights to businesses to enable smarter decision-making, with a focus on Market Intelligence and Finance Intelligence.
About GDP Venture
GDP Venture (www.gdpventure.com <http://www.gdpventure.com/>) is a venture builder, focusing on digital communities, media, commerce and solution companies in the Indonesian consumer internet industry. Founded in 2010, GDP Venture is not only about venture capital. It is about growingIndonesia''s economy with purpose to create a healthy ecosystem that produces world-class digital companies, supported by teams of great technopreneurs, engineers, product people and marketers.
About Central Capital Ventura
Central Capital Ventura (www.centralcapital.vc <http://www.centralcapital.vc/>) is an early stage corporate venture capital firm committed to investing in and working hand-in-hand with daring entrepreneurs striving to define the future of financial services, backed byIndonesia''s largest private bank, Bank Central Asia.