New Delhi: Singapore-based AntWorks, a robotics process automation start-up, has raised $15 million in a Series A funding round led by Japan’s SBI Investment Co. Ltd, a subsidiary of SBI Holdings Inc.

AntWorks plans to utilize the capital to fund research and development, boost marketing and enter new markets, the company said in a statement on Monday.

Founded in 2015 as a business process outsourcing company, AntWorks offers automation solutions in data management and decision-making.

SBI Investment manages venture capital funds and has previously invested in Tokyo-based ventures including digital health start-up CureApp and robotics system company Ascent Robotics Inc. among others. The investment also marks a joint venture between AntWorks and SBI to expand in the AI (artificial intelligence) segment in Southeast Asia.

“We are excited with the possibilities of ANTstein and look forward to their growth in the Asian region through our joint venture, as well as globally," said Yoshitaka Kitao, president and chief executive officer, SBI Holdings.

Asheesh Mehra, co-founder and group CEO of AntWorks, said the company’s platform “will be leveraged to automate administration and augment human judgement...".

AntWorks claims a customer of more than 450 and is present in countries including India, Doha, Australia, the US, UK, Philippines, Sri Lanka and Qatar.

Govind Sandhu, co-founder and chief financial officer, AntWorks, said the company aims to “empower enterprises in emerging markets like the Philippines, India, China, etc. by unleashing the limitless potential of machine learning and cognitive automation."

Founded by Mehra, former vice-president and head of Infosys BPO for Asia Pacific along with Sandhu, AntWorks plans to launch its robotics process automation product called SQUARE in fourth quarter this year.

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