CloudMile, a specialist Google Cloud partner, has raised $6 million in venture funding amid plans to officially launch in Singapore.
Launched in 2017, the Taiwanese start-up goes to market as a specialist provider of cloud and artificial intelligence (AI) offerings, in addition to machine learning, big data and analytics capabilities.
Backed by more than 70 accreditations, the business has over 40 Google Cloud certifications, becoming the first partner to acquire specialisation in machine learning and analytics and infrastructure in North Asia.
The investment was raised through a Series Pre-B round of venture funding, led by CDIB Capital Management, Black Marble Capital Management and Taiwan Cooperative Venture Capital.
CloudMile expects to spend the funding on expanding overseas, alongside increasing R&D commitments through the development of AI products.
“In the two years since its establishment, CloudMile has been trusted by over 300 clients in Taiwan and Hong Kong,” said Spencer Liu, founder and CEO of CloudMile. “To better serve clients in Asia, we plan to enter Singapore officially in 2020.
“We will base our operations HQ in Singapore and AI R&D centre in Taiwan. CloudMile will advance the Asian market with the synergy of the best talents and technologies.”
Targeting enterprise customers, CloudMile - which has raised over $10 million since launching three years ago - has been accredited by Google Cloud for providing expertise in finance, gaming, media, retail and manufacturing sectors.
“Innovation can empower industries with better technologies and promote industrial upgrades,” said Ryan Kuo, deputy general manager of CDIB Capital Management. “Amongst the many innovative technologies, AI innovation is regarded as the dominant technology that will revolutionise industrial development.
“In the past few years, CloudMile earned the trust of clients by helping them leverage cloud technology and successfully introducing AI technology to various industries.
“We are optimistic about CloudMile's capability of providing premium AI and cloud services and believe as CloudMile expands its market in Asia, its AI services will assist more Asian enterprises to turn their business models upside down.”
CloudMile entered the Hong Kong market earlier this year, striking customer agreements across media, e-commerce, retail and transportation industries.
Plans are in place to officially enter the Singapore market in 2020, setting up operational headquarters in the city-state.
According to Liu, Asia represents the “next global hub” for AI development, with the start-up already organising local operations and technical teams.
Specifically, CloudMile commissioned Locarno Pan, who has more than 10 years of cloud service-related experience, to oversee the business development work in Asia Pacific. Before joining CloudMile, Pan has served in AWS, Microsoft's cloud infrastructure department and Temasek-owned ST Telemedia.
Going forward, Pan will work with COO, James Kao, a specialist of the Greater China region, to expand the start-up Asian footprint.
“CloudMile's mission is to help enterprises leverage the power of AI and drive growth,” Liu added.