Eureka AI closes US$ 20M Series B investment round to fund global expansion
Mita Srinivasan
SME Telecom

Eureka AI closes US$ 20M Series B investment round to fund global expansion

Series B round led by global investor group including Riyad TAQNIA Fund and Bahrain-based MEC Ventures

Eureka, an AI enterprise software company powering mobile operator and enterprise partnerships, and telco analytics, has closed its Series B fundraising round. In support of the company’s global expansion, the round was co-led by leading investors from around the world including Apis Partners (from London), Gobi Partners (from Kuala Lumpur), the Riyadh TAQNIA Fund (Saudi Arabia) and MEC Ventures (from both Beijing and Bahrain). Other investors that participated in the round included SG Innovate, GDP Ventures, Pacific Bridge and Cianna Capital. They join existing investors in the company that include Softbank, PPF Home Credit, and East Ventures.

In a statement on their site, Eureka CEO, Benjamin Soemartopo, said, “We are excited to have a leading global group of institutional investors join us in our mission to help mobile operators partner with enterprises. Mobile operators provide the infrastructure for the digital economy, and our new investment partners will help us both deliver in our current markets and complete our global footprint.”

Eureka has built a proprietary AI enterprise software platform, Spectrum, that organizes mobile telecom data to deliver actionable intelligence. It enables enterprises in industries including banking, insurance, transportation, and FMCG to partner with mobile operators to deliver better services to their customers and acquire millions more. At present, Eureka is deploying with operators across Southeast Asia, India and the Middle East with a collective mobile subscriber base of over one billion customers. The company is now expanding into Europe and the United States.