This week, B2B cloud service provider CloudMile announced that it has raised a $6M pre-B round, pushing its total funding to $10M. This investment round is spearheaded by CDIB Capital Management, a VC firm in Taiwan with a market share of over 30%.
With the new fund, the Taiwanese startup is to focus on strengthening its R&D capability and expanding in overseas markets, i.e., Hong Kong and Singapore.
The three-year-old company offers bespoke cloud solutions and consulting services to all scales of businesses by leveraging the power of AI, machine learning, and big data analytics. As a partner of Google Cloud, for example, it has helped traditional businesses implement AI technology in their workflow. Several months earlier, it has announced entry into Hong Kong.
With the experience of serving 300+ clients in more than ten industries in Taiwan and Hong Kong, CloudMile has aimed higher. CEO Spencer Liu said next year that the company plans to enter Singapore, where it will break ground on a new headquarter.
He said Singapore has been taking the lead in Asia's AI market and establishing headquarter operations here will help CloudMile better keep up with the global trend of tech development. The company is now in transition as it adapts to operational and technical teams built locally.
Ryan Kuo, Deputy General Manager of CDIB Capital Management, said as a platform for startups, the VC firm is optimistic about CloudMile’s capability of providing premium AI and cloud services and believe as CloudMile expands its market in Asia, its AI services will assist more Asian enterprises in innovating their business models. He is looking forward to putting another Taiwanese startup on the global stage.
In Taiwan, CloudMile plans to set up an R&D center devoted to AI technology, especially for gaming, healthcare and retail industries. Liu pointed out that Taiwan's healthcare has been considered one of the best in the world, and he hopes to introduce AI to more local startups in this industry and help them expand their global presence.
This year has seen the company buckle down to develop new products for brand owners. With mlytics, it has launched MileCDN, a new multi content delivery network (multi-CDN) platform that optimizes website performance and user experience with enhanced data security.
This year, it has set up MarTech startup Ainotam and launched Feedlio, an image processing tool powered by AI. The new company expects to launch Loupe, a new AI-powered platform for ad managment, next month.