AI Software Platform Eureka secured $20m in Series B Round

AI Software platform Eureka secured $20m in Series B Round

Eureka, an Artificial Intelligence-based enterprise software platform powering mobile operator, has recently secured $20 million in Series B round of funding.

The round was co-led by the leading investors from all across the globe, such as Venture Insurtech Fund managed by the Gobi Partners, Apis partners, MEC Ventures, and Riyadh TAQINA Fund.

Some other investors who also participate in the round include the GDP Ventures, SG Innovate, Cianna Capital, Pacific Bridge, and B&Y Ventures.

Eureka is an AI software company that has built a proprietary AI enterprise platform, Spectrum, which organizes mobile telecom data to deliver actionable intelligence.It enables enterprises in industries, which include transportation, banking, insurance, and FMCG, to partner with mobile operators to deliver better services to their customers and acquire millions more.

Executive Opinion

Eureka CEO, Benjamin Soemartopo, said, "We are excited to have a leading global group of institutional investors join us in our mission to help mobile operators partner with enterprises. Mobile operators provide the infrastructure for the digital economy, and partnerships with enterprises will enable both to better serve their customers. Our new investment partners will help us both deliver in our current markets and complete our global footprint."

Apis Managing Director, JinJeong, said, "We are really excited about the investment in Eureka. Mobile operators today face twin pressure from pricing pressure and rising costs whilst facing a shortage of data scientists. By leveraging products on Eureka’s platform, enterprise clients of mobile operators can offer more relevant and personalized services to their customers."

Eureka's plans for newly raised Funds

The company revealed that the new funding would be used to support international expansion and further develop the Eureka product portfolio. The new investment will also help in supporting the growth of its Bangalore team and operations in India.

As of now, Eureka's Spectrum AI data platform is deployed at operators across India, Southeast Asia, and the Middle East on a collective mobile subscriber base of more than one billion customers. It is now even expanding into the US and Europe.

Last year, World Economic Forum recognized Eureka as a Technology Pioneer. The company is also a member of Start Path, Mastercard’s award-winning later stage, startup engagement program, notes the announcement.

PC: Pablo, Pixabay

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Udit Agarwal Opinions expressed by techsutram contributors are their own. More details

Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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