Taiwanese AI startup CloudMile secures $6m to expand overseas

Taiwanese AI and cloud services provider CloudMile has raised US$6 million in a pre-series B round led by CDIB Capital Management, Black Marble Capital Management, and Taiwan Cooperative Venture Capital.

The CloudMile team / Photo credit: CloudMile

Leveraging machine learning and big data analysis, CloudMile helps enterprises with business forecasts and industrial upgrades to drive growth. The startup also offers cloud management application consultation services and solutions.

It plans to use the new capital to fund its overseas expansion efforts and improve its research and development capacity for its AI products.

It is looking to officially enter Singapore next year and set up its operations headquarters there as it focuses more on the Asian market. The company already has an operations team and a technical team in the city-state and has appointed Locarno Pan to spearhead its business development efforts in Asia Pacific. Pan previously worked at Amazon Web Services, Microsoft, and Temasek-owned ST Telemedia.

CloudMile also announced that it will establish its AI research and development center in Taiwan and invest more resources in retail, gaming, and health care. It expects to double its headcount through a talent recruitment project it launched in Taiwan, Hong Kong, and Singapore.

The firm, which was founded in 2017, entered Hong Kong this year, gaining clients from media, ecommerce, retail, and transportation sectors. It claims to have over 300 clients in both Hong Kong and Taiwan.