Singapore-based Akro AI, which builds AI software for regulated industries, said on June 30 it had raised US$700,000 in pre-seed funding led by Amigos Venture Capital.

The funding round also attracted participation from angel investors in the financial services, healthcare, and consumer technology sectors.

In a LinkedIn update, Akro said its team grew from two to eight within a year, while expanding deployments across unnamed government and enterprise customers.

Akro said its software reads scanned documents, handwriting, and forms to extract data.

It also said it signed a partnership with ti&m to expand in Asia-Pacific and Europe, the Middle East, and Africa.

Ti&m is a Swiss IT firm that serves sectors including banking, insurance, public services, transportation, and e-government.

Lead investor Amigos Venture Capital is a Dubai-based investment firm that focuses on seed and early-stage connectivity, telecom, and fintech startups, as well as related opportunities.

🔗 Source: Akro AI Pte Ltd