Singapore-based enterprise AI startup Whale has raised an additional $40 million in its Series C funding round, bringing the total to $100 million. The new capital will fuel global expansion and workforce growth.
TL;DR
- Whale raises $40M more in Series C, totaling $100M, led by CMB International and SMBC Asia Rising Fund.
- The funding will accelerate expansion in North America, Asia-Pacific, and lay groundwork for Middle East and Europe entry.
- Whale's AI operating system serves over 1,600 enterprise customers across 45 countries, managing 600,000 edge AI nodes globally.
What happened
Whale, a Singapore-based enterprise AI startup, has secured an additional $40 million in its Series C funding round, bringing the total raised in this round to $100 million. The extension was led by CMB International and Sumitomo Mitsui Banking Corporation's SMBC Asia Rising Fund, with new investors including Krungsri Finnovate, Singtel Innov8, Hyundai Motor Group, and Charisma Partners.
The company, founded by former Meta data scientist Jerry Ye, develops an AI operating system that helps enterprises manage physical operations using data from cameras, sensors, and audio devices. Its proprietary Business World Model automates workflows and generates business insights.
Whale plans to use the fresh capital to accelerate its expansion in North America and Asia-Pacific, while laying the groundwork for entry into the Middle East and Europe. The company also aims to grow its global workforce and deepen enterprise partnerships.
Why it matters
For AI/ML developers, Whale's expansion presents new opportunities for integration and collaboration, particularly in workflow automation, knowledge management, and AI governance.
Startup founders can look to Whale's strategic moves as a case study in global expansion and securing follow-on funding. The company's focus on enterprise AI solutions highlights the growing demand for AI-driven operational efficiencies.
Tech investors should note the significant interest in AI startups, particularly in Asia. Whale's successful Series C extension underscores the region's robust AI ecosystem and the potential for high returns in the sector.
Key facts
- Whale has raised a total of $100 million in its Series C funding round, with an additional $40 million secured recently.
- The funding round was led by CMB International and SMBC Asia Rising Fund, with new investors including Krungsri Finnovate, Singtel Innov8, Hyundai Motor Group, and Charisma Partners.
- Whale serves over 1,600 enterprise customers across 45 countries, managing more than 600,000 edge AI nodes globally.
- The company's flagship products include SpaceSight, which analyzes video and sensor data, and Echo, which evaluates frontline sales conversations.
- Whale plans to use the new capital to accelerate expansion in North America, Asia-Pacific, and lay groundwork for entry into the Middle East and Europe.
- The company aims to grow its global workforce and deepen enterprise partnerships with the fresh funding.
- Whale was founded in 2017 in Hangzhou, China, and moved its headquarters to Singapore in 2022.
- In 2021, Whale raised a $50-million Series B round led by Temasek alongside return investors NIO Capital, Linear, and Alpha Startups.
Context
Whale's latest funding comes amidst a significant AI funding rush in Asia. Data from 474 AI deals compiled by DealStreetAsia show that startups across Greater China, India, and Southeast Asia have raised at least $20.3 billion in disclosed capital so far in the first half of the year.
Greater China accounted for about 90% of the total, reflecting both the size of its funding market and the depth of its AI ecosystem.
Whale's focus on enterprise AI solutions aligns with the growing trend of businesses leveraging AI to drive operational efficiencies and gain competitive advantages.
