Taiwan-headquartered iKala has raised US$17 million in Series B funding to support in global expansion drive. This latest round of funding is led by Wistron Digital Technology Holding Company, Wistron Corporation’s wholly-owned subsidiary which focuses on digital technology industries and software application related investments.
Past investors Hotung Investment Holdings Limited and Pacific Venture Partners are also coming in, boosting confidence in iKala’s AI and digital solutions and Southeast Asia cross-border operational efficiency.
Bringing iKala’s total funding US$30.3 million, this round will be used to fuel its AI and digital technologies, as well as expansion into new markets such as Indonesia and Malaysia, while strengthening its position in existing key markets of Singapore, Thailand, Taiwan, Hong Kong, Philippines, Vietnam, and Japan.
This strategic investment marks the lead investor Wistron Digital Technology Holding Company, which also focuses on big data analytics, entry into Southeast Asia. Together, both companies are confident of propelling the region’s digital transformation journey forward and facilitate the development of Artificial Intelligence technology and software.
“We’ve been on a strong growth trajectory over the last couple of years, expanding into new markets and developing cutting-edge technology that has put us in a leading position in the region’s digital transformation and commerce space. With this funding, we look forward to exploring new opportunities in AI commerce beyond our existing markets,” said Sega Cheng, Co-founder and CEO of iKala.
Following its exceptional growth in the cloud and digital transformation industry since Series A round of funding early last year, iKala established in June its iKala Commerce division. The new solution consolidates AI-powered influencer database KOL Radar, and AI social commerce solution Shoplus, to provide an integrated solution and holistic customer data insights for the region’s social commerce players.