Singapore based AI platform Pencil raises $ 1.1m seed funding

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The-Pencil-Team-May-2019

Image Source:– Pencil

An AI creative firm based in Singapore, Pencil was able to raise successfully an amount of about US $ 1.1 million in the seed funding. This was led by the US. Singapore based VC Wavemaker Partners.

This initiative had been joined by the SGInnovate that is a government-owned and also investor Entrepreneur First. While an associate professor of NUS Min-Yen Kan and also Googler formed angel network called Xoogler Angles had also joined the round as the investment advisor.

In the year 2018 Pencil had been found by Will Hanschell and was formerly a partner and also the management consultant of the creative agency Iris throughout the world. Also, Sumukh Avadhani who is an ex-Googler has specialized in computer vision and deep learning.

The managing partner of Wavemaker Partners Paul Santos had said that the main point of the marketing teams is the enhancement of the ROI. According to him all of the market solutions tries to do so by targeting or better customer profiling. Although these approaches are limited fundamentally by the content amount that can be text or visual that can be produced by someone.

He also says that the Pencil is able to take a novel and balancing approach that allows the teams to generate and also distribute the personalized content with the use of scaling with AI. Their team is very happy for supporting Will and Sumukh in the vision for putting this specific technology to the best e-commerce, agency and brand teams by the year 2020. The creative company is going to use this fresh fund for the expansion of customer success and engineering teams.  This will help with the growth of the proprietary datasets and also the extension of the patent-pending technologies.