Singapore-based omnichannel conversational AI startup SleekFlow has secured $7 million in a Series A+ funding round led by South Korean venture capital firm Atinum Investment.
Existing investors (AEF Greater Bay Area Fund, managed by Gobi Partners GBA, and Transcend Capital Partners) and a new investor Moses Tsang (Former General Partner of Goldman Sachs Group and Chairman of Goldman Sachs (Asia) LLC) joined the round.
With this, the total funding raised by the firm to date is $15 million. It last raised $8 million in 2022 from Tiger Global, AEF Greater Bay Area Fund and Transcend Capital Partners. The company aims to secure its Series B round in the next 12 months.
The latest proceeds will help accelerate SleekFlow’s global expansion plans, including Southeast Asia, the Middle East and Europe.
The company has recently also appointed Silicon Valley veteran Gao Lei as the new chief technology officer.
SleekFlow founder and CEO Henson Tsai said, in a statement, “Since the appointment of our CTO, we have significantly increased our engineering efforts to be at the forefront of innovative tech and advanced AI.”
The conversational AI market is projected to grow from $13.2 billion in 2024 to $49.9 billion by 2030, SleekFlow said in the statement, citing market data.
Its suite of solutions includes the seamless merger of conversations, product catalogues, payment solutions, and order management to help businesses engage with customers from a single intuitive interface. Some of its clients include Hong Kong Broadband Network, Bowtie Insurance Group, and 7-11.
Commenting on the investment, Atinum Investment’s Regional Head of the Singapore Office and Director, Peter Na,
said, “SleekFlow’s localised approaches have expanded it beyond Asia, entering new markets in the Middle East and South America. We are committed to supporting its ongoing global expansion.”
The Seoul-headquartered VC, which has backed startups such as ride-hailing giant Gojek, Korean video game publisher Kakao Games, and Hong Kong-based travel experiences platform Klook, recently closed the Atinum Growth Investment Fund 2023 at $624 million (860 billion won).
