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AI firm iKala raises $17m for expansion into Indonesia

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iKala, an artificial intelligence driven marketing solutions company headquartered in Taiwan, has secured  US$17 million in a Series B funding. This round was led by Taipei-based Wistron Digital Technology Holding Company and previous investors Hotung Investment Holdings and Pacific Venture Partners.

This round takes the company’s total funding raised to date to US$30.3 million.

The proceeds from the round will be used to multiply new markets, including Indonesia and Malaysia, while reinforcing  iKala’s position in its existing markets Singapore, Thailand, Taiwan, Hong Kong, the Philippines, Vietnam and Japan.

“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.

iKala’s mission is to “enable AI competencies” of its enterprise customers to increase their customer acquisition capability and customer lifetime value, by providing AI-driven digital transformation and data-driven marketing solutions.

More than 400 enterprise customers across 12 industries, along with 15,000-plus advertisers, have used iKala’s technology, it said in a statement.

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