Malaysian startup, Wise AI raises 8-figure Series A from MTDC, VT-SBI and Sunway Group
Summary
Targets to create digital IDs for the 680 million Southeast Asian market Ranked by US-based NIST in top 25 globally for facial recognition matching speed[Ed: Caption has been updated for accuracy. ]Wise AI, a Malaysian startup specialising in eKYC and Digital Identity solutions, said it has raised an eight-figure Series A funding, without disclosing the amount. Launched in Sept 2018, Wise AI expects the partnership to further its mission to create digital identities for the 680 million people in Southeast Asia.Sunway iLabs Ventures is a repeat investor, having invested in an earlier round along with PH Capital from Hong Kong.MTDC said "With this strategic investment from MTDC, we are excited to support Wise AI in launching cutting-edge e-KYC (Know Your Customer) solutions across new markets, both locally and internationally. This partnership underscores our dedication to driving technology development and positioning Malaysia as a leader in AI innovation. "Mohd Jerry Tan, Principal of VT-SBI said We believe that the technology or application of AI is still in its infancy in Southeast Asia, thus, promises a hopeful prospect for significant market growth.