AntWorks raises USD 15 mn funding from Japan's SBI Investment

The series A funding will help AntWorks invest in AI as also enterprise RPA (Robotic process automation), fuel R&D and foray into newer markets, AntWorks said in a statement.

AntWorks, an artificial intelligence (AI) products and solutions firm, today said it has raised USD 15 million (about Rs 103 crore) from SBI Investment Co Ltd, a subsidiary of Japan's SBI Holdings, Inc.

The series A funding will help AntWorks invest in AI as also enterprise RPA (Robotic process automation), fuel R&D and foray into newer markets, AntWorks said in a statement.

A joint venture between SBI and AntWorks has also been announced to tap into the opportunities in the emerging AI space in South East Asia.

"With this investment, we will work together with SBI Group to bring end-to-end, AI-based enterprise RPA to the globe... Our goal is to empower enterprises in emerging markets like Philippines, India, China, etc - by unleashing the limitless potential of machine learning and cognitive automation," AntWorks co-founder and CFO Govind Sandhu said. It provides solutions for over 450 customers.

"AntWorks’ has risen through the ranks of global RPA, Automation and Artificial Intelligence companies with a ferocity that's unprecedented in the industry...(We) look forward to their growth in the Asian region through our joint venture, as well as globally," said Yoshitaka Kitao, Representative Director, President, and CEO of SBI Holdings, Inc.

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