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Singapore startup AnyMind Group closes Series B funding with US$21.4m
SINGAPORE-BASED AnyMind Group has closed its Series B Plus funding round with an additional US$8 million, bringing its total Series B funding to US$21.4 million, the artificial intelligence (AI) solutions provider announced on Wednesday.
The new investors are Thailand's VGI Global Media plc (VGI) and Japanese financial services company, Tokyo Century Corporation. VGI is an offline-to-online solutions provider across advertising, payment and logistics platforms.
"As part of the investment, AnyMind Group will look to enter a joint venture with VGI to integrate digital-out-of-home (DOOH) advertising technology to VGI-owned out-of-home advertising spaces in Thailand," the company said.
"Through mounted cameras placed together with digital signage, viewers will be able to view more personalised advertising. This is done through computer vision to determine gender, age group and location, allowing for advertisements and content to be matched, optimised and shown to the most relevant audience segments."
The new injection of funds will also be used for potential strategic acquisitions in the advertising, influencer marketing and human resource industries, as well as the acceleration of talent and product growth, AnyMind Group added.
Yoshito Kitagawa, president of the business development unit at Tokyo Century Corporation, said: "We are excited for the future of AnyMind Group, a company developing solutions for various industries using AI and other technologies in the fast-growing Asean region. We will provide AnyMind Group with a vast knowledge network and mutually beneficial support."
AnyMind Group has expanded into 11 markets in Asia within three years, and grew its headcount to 400 employees. It has also expanded into two industries, and acquired two companies - FourM in Japan and Acqua Media in Hong Kong.
The group has three brands, including advertising solutions provider, AdAsia Holdings; influencer marketing business and platform, CastingAsia; as well as recruitment and talent management platform, TalentMind.