SBI Holdings, the Blockchain Allocator, will Invest $15 Million in AntWorks to Expand Presence in Asia
The subsidiary of SBI Holdings Japan, SBI Investments has invested $15 million in AntWorks, the Artificial Intelligence startup company based in Singapore. The move is part of SBI's wider plan to expand its presence in the Asia financial technology (Fintech) market.
According to a recent press statement, AntWorks stated that its Series A funding will go towards its ongoing development in Artificial Intelligence and enterprise (RPA), improve their sales and marketing mechanism, while also driving research and development, and reach out to new markets.
The CEO of Antworks, Asheesh Mehra commented:
“When Govind Sandhu and I started AntWorks with a small, passionate group of people, the dream was to create a company that would serve as a catalyst for enterprises on their digitization journey.” Mehra continued.
“SBI Holdings reposing this faith in us with both the investment and the joint venture is validation and an opportunity to grow and come into what we have always believed AntWorks can be – a true leader forging a new path, reimagining business as usual.”
Mehra expressed his company's gratitude to SBI Investments for their contribution to Antworks growth, while also giving thanks to members of his team that made it all possible.
“May we remain fresh in our approach, fearless in embracing change and fast in learning, adapting and delivering on everything we stand for as AntWorks.”
The co-founder of AntWorks and CFO, Govind Sandhu stated that SBI Investment's support would greatly improve the company's long-term goal while taking their AI-based enterprise to another level. Sandhu said that the “goal is to empower enterprises in emerging markets like Philippines, India, and China”, allowing them to harness the unlimited potential of machine learning and automation.
Yoshitaka Kitao, the CEO, director and president of SBI Holdings Inc, when asked about AntWorks, replied:
“AntWorks’ has risen through the ranks of global RPA, Automation, and Artificial Intelligence companies with a ferocity that's unprecedented in the industry. We are excited with the possibilities of ANTstein and look forward to their growth in the Asian region through our joint venture, as well as globally.”
Kitao has also said that SBI is committed to introducing RPA solutions to the Financial world of Japan and is dedicated to the future of this field.