“AI Data Foundry” Centerific shuts down a $60 million Series A financing round led by Singapore venture fund Granite Asia as the U.S.-based startup explores ambitious expansion into Asia.
AI startups are now paying close attention to AI models in Asia. Local AI developers, e.g. Deep in Chinais showing that Asian AI models are sitting at the forefront of technology.
“This funding round is not about ambition,” CEO Venkat Rangapuram said in a statement. “This investment turbocharges our mission: to make businesses resilient, agile and finely tuned AI systems.”
With core plans to use funds to expand its platform capabilities, improve its R&D capabilities, and deepen cooperation with partners such as Nvidia, Microsoft and Lenovo.
AI startups work with large enterprises to develop, train and deploy their AI, including attempts to eliminate bias, hallucinations, and other mistakes. Rangapuram with wealth. “There are a lot to think about before you can live in a business setup.”
Centerific began as the U.S. division of Pactera, a Chinese IT consulting and outsourcing company. After China’s state-owned company China Electronics acquired Pactera in 2020, it carved its U.S. business, which eventually became an independent company.
Rangapuram tells wealth He is excited about the “destructive and exciting possibilities” of body AI, especially in ASEAN and Singapore. (“Physical AI” is a model designed to work with actual machinery, such as manufacturing equipment.) “The future is not only in North America, but globally,” he said.
The desire to expand into new markets is why centralization shifts to granite Asia and famous venture capitalists (and MPW Asia finalists) Jenny Lee, one of the senior management partners of the fund. Rangapuram noted that Granite’s “network and resources within Asia and India” was part of his turn to Lee and her fund “we diversify from North American markets to global alternative markets.”
In a statement in the financing announcement, Lee said in turn that Asia’s Granite Asia is part of its mission to build “infrastructure for the industry’s lasting infrastructure”. Commistive “becomes a unique place in the enterprise AI stack.”
Granite Asia was born from GGV Capital, a venture capital giant deep in Asia. Lee founded GGV’s first China office in 2005 and supported giants such as Alibaba, Grab and Xiaomi. However, in 2023, after the U.S. Congress’ scrutiny of Chinese venture capital, GGV decided to split itself into two, with its Asian business becoming Granite Asia.
The fund quickly established new relationships throughout the region. At the end of last year, it established a strategic partnership with the Indonesian Investment Agency, one of the sovereign wealth funds in Indonesia. Deploy $1.2 billion Enter investment opportunities. In March, it announced New joint venture With the integral of points from Japanese private equity firms, $100 million can be integrated into Japan’s technology sector.
Then on Tuesday, Granite Asia is One of two foreign VCstogether with AppWorks in Taiwan, select to participate in a new Malaysian initiative to invest in local startups and encourage global companies to regroup in Southeast Asian countries.
Li told wealth Late October. “Our vision is to be a major capital platform for startups, founders and businesses across the region: anchoring capital in the region that is in the region.”
