Aiello announced this week that it has closed its Pre-Series A funding round, bringing the total funding amount to USD$ 7M since the company was established in 2019. Founder and CEO of Aiello Vic Shen tells Meet Global that overseas customers have come to them for business, including companies from UK, Australia, Japan, Southeast Asia, and China.
The round was joined by ColoplNext Funds and Cornerstone Ventures Investment. Aiello provides a full-stack AI natural language processing SaaS platform based on in-house technology. The company wants to lead the adoption of Natural Language Technologies across APAC.
Vic Shen explained that this round will be used to accelerate international expansion in overseas markets: “We have been exploring Japan and Southeast Asia as our next markets. We already have customers from the UK as well as China, and it can be sure that Aiello will have customers in Japan, Singap
ore, and Australia next year.
ColoplNext Fund, established by Japanese gaming giant Colopl, is a tech-focused VC firm funding companies in the US and Japan. The group actively invests in a variety of internet businesses globally and constantly supports innovative entrepreneurs. ColoplNext is very active in the field of Voice AI applied to the gaming industry, and Aiello is the first ColoplNext AI Startup investment in Taiwan.
With the help of Colopl, Aiello can expect significant progress in the Japanese market. ”Colopl can help us to reach potential partners and customers in Japan. Furthermore, when people realize we are backed by Colopl, they will know we are doing business here seriously,” said Vic.
“We believe in Aiello’s efforts to push for the adoption of voice and semantic analysis in the APAC region. We are very happy to work, invest and partner with Aiello to maximize the business value of Natural Language Understanding(NLU) technology,” said Shintaro Yamakami, CEO of ColoplNext.
Cornerstone Ventures, a joint venture between two Taiwan public-listed companies PChome and Chunghwa Telecom, is one of Aiello’s early investors, “Voice and text have always been very important human interfaces in daily business operations, yet many things are still done in a way that has been there for decades. With the growth of machine learning technology, we see how whole industries are being disrupted. We look forward to seeing Aiello’s NLU SaaS platform expand into Southeast Asia, Japan as well as other international markets,” said GM of Cornerstone Ventures TP Lin.
Aiello builds machine learning based NLU models and a unique multilingual development platform. The company successfully deployed its solutions to customer service and client-facing teams in finance, insurance, and hospitality in the past two years. The underlying technology of its products allows organizations to significantly minimize development costs usually needed to build a natural language architecture. Aiello is building an SMB and enterprise NLP SaaS, and an open platform to allow for expansion and model retraining. They are creating a no-code platform to reduce the efforts and resources needed to enable conversational AI across organizations.
Aiello’s growth prospects in a post-COVID area are very encouraging, especially in the gaming, e-commerce, and customer service industries. Today, nearly 500,000+ voice and text data in Chinese, English, and Japanese are being processed on Aiello’s platform every month, and a three-digit growth is expected in the next 3 years.
Aiello NLP SaaS platform provides the tools to build a vertical nature language framework using pre-trained Voice and NLU models and Industry Knowledge Graphic database. Along with it, Aiello also provides multiple language capabilities to support various customer interactions into a single platform.
“We believe our capacity to be multilingual and very localized, while relying on the engineering quality of our Taiwanese developer, gives us a great competitive advantage across APAC,” said Vic.