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Business EconomyPosted at: Jul 30 2018 2:20PM


AntWorks announces Series A funding with strategic investment by SBI Holdings

Mumbai, Jul 30 (UNI) AntWorks, an Artificial Intelligence (AI) and Intelligent Automation products and solutions company on Monday announced their Series A funding with a USD15 million investment by
SBI Investment Co. Ltd., a subsidiary of SBI Holdings, Inc, which conducts investments and management of venture capital funds, at an undisclosed valuation.
This investment will provide AntWorks with an impetus for their next level of growth in Artificial Intelligence & Enterprise RPA, fuel R&D, strengthen their marketing and sales engine, and energise their foray into newer markets, a release said.
In addition, in an unusual show of commitment, a joint venture between SBI and AntWorks was also announced to tap the tremendous opportunities in the emerging AI space in South East Asia.
Fuelled by cognitive automation and machine-learning capabilities, AntWorks delivers industry-best RPA-that’s powered by AI-using its ANTstein platform to enterprises of all sizes. AntWorks provides a unique code-free RPA product and its one-of-a-kind Cognitive Machine Reading (CMR) engine -that is very rapidly replacing OCR - is the most critical component to any Automation, RPA or digitisation journey for enterprises as it ingests any data type - Structured, Unstructured, Inferred, or Image data.
AntWorks is headquartered in Singapore and has delivery centers and offices in Singapore, Australia, India, the Philippines, Qatar, Sri Lanka, the United Kingdom, and the United States.
Asheesh Mehra, Founder and Group CEO says, ''When Govind Sandhu and I started AntWorks with a small, passionate group of people, the dream was to create a company that would serve as a catalyst for enterprises on their digitization journey. SBI Holdings reposing this faith in us with both the investment and the joint venture is a validation and an opportunity to grow and come into what we have always believed AntWorks can be - a true leader forging a new path, reimagining business as usual.
"Today I feel pride in our team who have worked so tirelessly and gratitude towards SBI Holdings and
towards every employee, partner, analyst and well-wisher who has been on this journey with us. May we remain fresh in our approach, fearless in embracing change and fast in learning, adapting and delivering on everything we stand for as AntWorks", Mehra added.
As a relatively new entrant, AntWorks has already made a global impact in the space and is consistently benchmarked against competitors who have been in the space for far longer. The AntWorks differentiator is in bringing together all three pieces of the Automation puzzle, effortlessly and under one umbrell- Data
Ingestion, RPA, and Artificial Intelligence.
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