6Estates had previously raised $2m of funding for its market intelligence products based on research from NUS and Tsinghua University.
6Estates, a Singapore-based data intelligence software developer based on National University of Singapore (NUS) and Tsinghua University research, has secured an undisclosed sum in a series B round led by startup builder GDP Venture, the Business Times reported on Tuesday.
central Capital Ventura, the corporate venturing arm of banking firm Bank Central Asia (BCA), also participated in the round.
Founded in 2014, 6Estates creates market analytics products that exploit artificial intelligence technologies including natural language processing and neural networks to inform insights into the consumer goods and financial services industries.
6Estates will now build its presence in Indonesia by opening local offices tasked with enhancing its NLP technology’s abilities in Bahasa Indonesian and adding to BCA’s expertise in AI.
The company will also recruit additional machine learning and data science experts while searching for strategic partnerships as it aims to expand the business in southeast Asia and China.
6Estates attracted $1m of series A funding in 2015 from unnamed investors, after raising $1m of seed capital at an undisclosed date from government enterprise agency Spring Singapore’s Technology Enterprise Commercialisation Scheme, as well as 6Estates’ co-founders and unnamed business angels.
The spinout is the result of work conducted at NUS and Tsinghua’s joint research hub, the NUS-Tsinghua Extreme Search Centre, which aims to commercialise advancements in live media search technologies.
