Wiz.ai, a Singapore AI startup that aims to digitize customer engagement, has raised US$6 million in a pre-series A funding round led by GGV Capital. Wavemaker Partners, ZWC Partners, Insignia Ventures, and Orion Fund, which is managed by K3 Ventures, also participated in the round
With the investment, the company plans to expand its product offerings and grow its teams in Southeast Asia. Wiz employs scientists, researchers, linguists, and dialogue designers in its offices in Singapore, China, and Jakarta.
Launched last year, the startup focuses on developing conversational AI for Southeast Asian languages. The company said its solution can help businesses cut costs while improving customer service with personalized inbound and outbound calls.
Its front-end talkbot encourages customers to engage more in conversations. The back-end, meanwhile, sifts through the data in real time and stores insights from the conversations into the company’s existing customer relationship management system. Wiz then analyzes the data at both the granular and aggregated levels.
According to a statement, the startup currently serves businesses in healthcare, insurance, banking, telecommunications, and ecommerce sectors, as well as the Singapore government for payments.
Meng Xiong Kuok, founder and managing partner at K3 Ventures, noted that automation is important for business continuity especially amid the Covid-19 crisis.
The development of AI in Southeast Asia still lags behind AI global hubs such as China and the US. Singapore, however, is currently leading in AI implementation across the region. In November last year, the city-state rolled out a national AI strategy and committed more than S$500 million (US$354 million) to fund AI activities under its Research, Innovation, and Enterprise 2020 Plan.
Currency converted from Singapore dollar to US dollar: US$1 = S$1.41.