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Business

Asilla secures Series A funding

Released at: 16:03, 02/04/2019

Asilla secures Series A funding

Photo: Asilla

AI startup announces undisclosed funding from two investors on April 2.

by Minh Do

Asilla, a Japan-Vietnam artificial intelligence (Al) startup, has successfully called for capital in a Series A round from Mitsubishi UFJ Capital Co., Ltd, a financial services company, and Okasan Capital Partners Co., Ltd, a securities company - both from Japan.

The amount of funding has not been disclosed as yet. In parallel with this successful capital call, Asilla will continue to recruit 50-60 people over the next two years.

Founded in 2015, Asilla has been capturing market needs in developing AI technology for many companies in the Japanese market. With this mobilized capital, the startup will continue to improve the quality of existing AI technology applications, set up business units, and establish partnerships to quickly and accurately meet market demand.

Mitsubishi UFJ Capital decided to invest in the company at this time because it appreciates that Asilla’s solution is capable of deploying the latest AI technology. “We hope that promoting Asilla’s AI commercialization will contribute to promoting automation and improve the company’s performance,” a company representative said.

“Products applying AI such as Asilla’s AI-OCR (Optical Character Recognition) have great potential and meet the needs of companies in the era of labor shortages,” said a representative from Okasan Capital Partners. “With this investment, we expect AI products to be spread widely.”

“During this call, I believe that the two investors have understood us and therefore made their decision,” said Mr. Daisuke Kimura, Director of Asilla Japan. “We will continue to work hard and are grateful for their encouragement and guidance.”

“Our goal is to build products based on AI technology to help human life,” said Mr. Nguyen Thanh Hai from Asilla Vietnam. “AI supports people in repetitive tasks. Our AI products are currently only being deployed in Japan but in the near future we will also bring them to other Asian countries, including Vietnam. After receiving this investment capital, we will increase our resources to invest in further research and development activities to improve the quality of existing products and market new products.”

Asilla currently has a representative office in Hanoi, which has a staff of 12 high-quality Vietnamese engineers with many years of experience focusing on researching and developing AI products in Hanoi.

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