Roehl Niño Bautista · · 1 min readAI startup hits $4m value after Crowdera acquisition
Crowdera, a Singapore-headquartered crowdfunding firm, has acquired 25% of AI startup Monkwish for US$300,000, bringing the latter’s valuation to US$4 million after the deal.
Crowdera founder and CEO Chet Jainn / Photo credit: Crowdera
Monkwish has developed AI products for employee skill gap identification, virtual events, and student engagement and career assistance.
Meanwhile, Crowdera is looking to integrate AI capabilities and machine learning algorithms into its platform, starting with an AI-assisted writing tool that helps users write “contextually relevant” and “emotionally appealing” pitches.
Called Assisting with Compassion and Artificial Intelligence (ACAI), the tool also has fraud detection capabilities using website usage and transaction history data. Access to this feature is currently for invited users only, with a waitlist available on the firm’s website.
“With ACAI, we wish to showcase that new-age technologies like AI can be used not only for commercial gains but can be effectively deployed for bringing greater good to communities,” said Chet Jainn, founder and CEO of Crowdera.
Crowdera said it is eyeing to hit US$5 billion in charity transactions within the next three to four years. It is currently running fundraising campaigns for major organizations like ActionAid India and Habitat for Humanity.
Editing by Miguel Cordon and Lorenzo Kyle Subido
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