- Antler invested $5.1M in 37 AI startups across Southeast Asia.
- The startups provide industry-specific AI solutions, unlike saturated global horizontal AI markets.
- Antler partnered with Malaysia’s sovereign fund to tap the region’s tech ecosystem.
Antler, the Singapore-based venture capital firm, has allocated $5.1 million towards backing 37 pre-seed deals in vertical AI startups across Southeast Asia.
This strategic investment underscores the increasing prominence of specialized AI solutions tailored to diverse sectors within the region, spanning from seafood to finance.
As part of its expansion strategy, Antler has forged a strategic partnership with Khazanah, Malaysia’s sovereign wealth fund, signaling a concerted effort to tap into the region’s burgeoning tech ecosystem.
Shifting dynamics in AI landscape
Jussi Salovaara, co-founder and managing partner at Antler, highlights the shifting dynamics in Southeast Asia’s AI landscape.
Unlike the saturated market for horizontal AI solutions globally, Southeast Asian startups are strategically addressing industry-specific pain points.
Salovaara emphasizes the significance of a customer-centric approach, leveraging AI to provide targeted solutions that cater to the unique challenges and opportunities within each sector and market.
Diverse investment portfolio
Antler’s investment portfolio reflects this diverse landscape, with startups like BorderDollar and CapGo leading the charge in innovative AI-driven solutions.
BorderDollar focuses on revolutionizing cross-border logistics with its invoice financing platform, while CapGo streamlines data acquisition for market research.
Salovaara underscores the importance of adapting solutions to suit Southeast Asia’s distinctive market dynamics, paving the way for these startups to establish formidable competitive advantages and drive transformative change within their respective industries.
To read the original article in its entirety: https://techcrunch.com/2024/02/21/antler-ai/
