Funding secured by Fano Labs for Series B; expansion in the Asia-Pacific region planned
Fano Labs, a Hong Kong-based company specializing in language artificial intelligence technologies, has completed its Series B funding round. The expansion is expected to solidify Fano Labs' leadership in language AI technology and strengthen its presence in the Asia Pacific region.
Established in 2015 as a spin-off from the University of Hong Kong, Fano Labs has been well-placed to leverage the AI trend with robust investor backing. The funding round was led by Openspace Ventures, with participation from HSBC, Greater Good Investment, the family office of Hong Kong billionaire Kenneth Lo, and existing shareholders. The specific amount raised in the Series B funding round was not disclosed.
Jessica Huang Pouleur, a partner at Openspace Ventures, stated that the move will unlock new avenues for growth and reinforce Fano Labs' position as a leader in the industry. Openspace Ventures expressed support for Fano Labs' expansion plans, which include the establishment of an office in Singapore.
Fano Labs' focus on addressing common challenges encountered in multilingual environments, prevalent in regions like Singapore and across Asia, sets it apart in the market. The company offers a range of AI-driven solutions, including an AI transcriber, chatbot, and voicebot.
One of Fano Labs' upcoming products, Callinter, can swiftly analyze audio recordings to detect instances of misconduct or mis-selling. Designed to handle conversations in multiple languages across diverse linguistic contexts, Callinter is designed to tackle compliance challenges often faced in the financial services industry.
Miles Wen, co-founder and CEO of Fano Labs, expressed enthusiasm for the company's expansion into the APAC market. The expansion into the APAC market paves the way for further innovation and growth for Fano Labs.
The focus of Fano Labs' expansion is on the Asia Pacific region, with the company planning to enter the market with a focus on establishing an office in Singapore, though specific timing details are not provided in the search results. The capital infusion from the Series B funding round will fuel Fano Labs' expansion plans, positioning the company for continued success in the AI field.
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