Local tech companies at the forefront of AI

HardwareZone celebrates Singapore’s 60th birthday with a series of articles showcasing local tech brands that have helped build our nation and put us on the world stage. Some of these brands have become household names, while others lesser known but no less innovative. You might even be surprised to learn of some popular technologies that got its start right here in Singapore.

(This article is one of 7 parts in our SG60 Tech Special series.)

Artificial intelligence (AI) might be all the rage right now. But Singapore has been dabbling in AI way before ChatGPT became a thing.

In 2017, AI was been identified as one of the four frontier technologies for development in Singapore. The same year, a national program - AI Singapore - was launched to help businesses and government use AI in practical ways as well as to nurture local AI talent. With the rapid advancement of AI, establishing a framework for ethical use of AI, the National AI Strategy was updated in 2023 with two goals: to develop “peaks of excellence” in AI and to empower individuals, businesses, and communities to use AI with confidence and trust.

With a clear mandate and strong support from the Singapore government, it is no wonder that many Singapore AI companies have sprouted and are making their mark in the scene. Here are six notable players from our point of view:

1. WIZ.AI

Founded in 2019, the Singapore-based WIZ.AI specialises in conversational AI solutions that mimic human interactions. By focusing on natural language processing (NLP) and conversational AI, WIZ.AI specialises in customer engagement technology, enabling businesses to improve customer service, accelerate sales, and reduce operational costs.

It is renowned for its AI-powered voice bots - Talkbots - which are designed to emulate human-like conversations in multiple languages and dialects, particularly catering to the diverse populations of Southeast Asia.

In 2023, the company launched a domain-specific large language model (LLM). Unlike general-purpose models, this LLM is tailored for specific industries with domain knowledge, like banking and healthcare. It also offers enhanced data security and accuracy for enterprise clients.

The same year, WIZ.AI unveiled a suite of generative AI products for customer service, including TalkGPT and new Talkbot and Chatbot versions. It also launched Southeast Asia’s first foundational LLM in Bahasa Indonesia.

Within a few years of its inception, the company established a regional presence, with operations spanning Singapore, Indonesia, the Philippines, and other ASEAN countries. Thus far, WIZ.AI has raised around US$56 million over several rounds of funding. It was also included on LinkedIn’s list of top 10 startups in 2024. Its clients now include IHH Healthcare, Tokio Marine and SeaMoney.

Key Events:

• 2019: Introduction of Talkbot, WIZ.AI’s flagship product.
• 2020: Raises US$6 million in pre-Series A funding.
• 2022: Secures around US$50 million in Series A and B funding.
• 2023: Launches domain-specific LLM and a suite of generative AI products.
• 2024: Listed as one of the top 10 startups in Singapore.

2. ADVANCE.AI

A subsidiary of the Advance Intelligence Group, ADVANCE.AI is a Singapore-based AI company founded in 2016 that provides digital identity verification, risk management, fraud detection, credit scoring, and compliance solutions for enterprise clients.

It was created to help address the lack of credit history for individuals in emerging markets in Southeast Asia and India. Its solutions are particularly tailored to the region’s unique challenges, including limited credit histories and diverse regulatory environments.

Its first client was Gojek, which allows the company access to over 170 million users across Southeast Asia. Today, ADVANCE.AI counts the likes of Standard Chartered Bank, BTPN, KEB Hana Bank, Shopee, Bank Jago and HBL BanK as its clients. It also partners over 800 enterprise clients across banking, financial services, fintech, payment, retail and e-commerce sectors.

The company has received several accolades, including being named ASEAN Fintech winner for its risk management technology at Singapore Fintech Festival 2023. It helped its parent company Advance Intelligence Group achieve unicorn status, when it secured US$200 million in Series D funding.

Key Events:

• 2016: Established with US$4 million in Series A funding secured.
• 2017: Business collaboration with Gojek, which has 170 million users in Southeast Asia.
• 2019: Raises US$80 million in Series C funding.
• 2021: Secures US$200 million in Series D funding, helping parent company Advance Intelligence Group to reach unicorn status.  
• 2022: Acquires Jewel Paymentech, a Singapore-based fintech company.
• 2024: Expands its business and enhances its Know Your Business (KYB) service with the Jewel Paymentech acquisition, which now operates under the name ADVANCE.BizQ.
• 2025: Listed in CNBC’s “World’s Top 250 Fintech Companies”.

3. NextBillion.ai

Fuelled by a vision to make location tech more accessible and flexible, former Grab Geo colleagues Gaurav Bubna, Ajay Bulusu and Shaolin Zheng founded NextBillion.ai in 2020. The company distinguishes itself with a software-first approach that allows its clients to build and manage their own mapping data, rather than relying on a “one-size-fits-all” model.

NextBillion.ai offers a suite of APIs, including Routing Optimization, Directions, and Distance Matrix, that allow businesses to build bespoke solutions for complex use cases. The company also launched a Road Editor Tool that gives customers control over their maps by allowing its clients to add custom layers and restrictions. Also a result, NextBillion.ai has achieved remarkable growth.

In 2021, just one year after its founding, the company claimed to have registered 10 times growth in customer base and five times revenue growth. NextBillion.ai has also raised significant funding (S$34.25 million) from prominent investors, such as Lightspeed and AlphaWave, thereby enabling it to scale operations and enhance its product offerings. In 2024, NextBillion.ai launched MapFusion, an enterprise platform designed to integrate, customise, and scale mapping solutions for complex geospatial challenges.

Today, NextBillion.ai has offices in China and US, with is custom map data solutions supporting over 150 countries. Its clients range from industry giants like DoorDash, DB, and Gojek, to disruptive startups.

Key Events:

• 2020: Founded in Singapore to address the need for customisable mapping solutions for enterprise.
• 2021: Ranks among Fast Company’s “Most Innovative Companies” in Asia Pacific.
• 2022: Raises US$21 million in Series B funding.
• 2024: Launches MapFusion, an enterprise platform designed to integrate, customise, and scale mapping solutions for complex geospatial challenges.

4. IJOOZ

You might have seen the IJOOZ vending machine dispensing freshly-squeezed orange juice in shopping malls or around your housing estate. But do you know that iJooz is not just a juice retailer but an AI company?

Founded in 2016 by semiconductor veteran Bruce Zhang, IJOOZ utilises uses AI to monitor inventory and predict customer preferences for its 1,500 smart vending machines located around the island. Their software and hardware are built entirely in house.

This wholly-integrated ecosystem allows IJOOZ employees to receive instructions on the exact amount of oranges to refill on each machine as well as the most efficient route between machines. The company also uses AI to predict when, where and how many of oranges to buy based on the time of the year.

In 2019, IJOOZ begins franchising and expands to over 30 countries. When the pandemic hit in 2020, the company had to pivot and even offered home delivery of bottled orange juice. However, at the same time, it took the slowdown to start its orange peel recycling program to reduce waste by recycling orange peels into animal feed and fertilisers.

Beyond the consumer realm, IJOOZ also expanded its offerings with “Smart Fridge” for enterprises. It is a 24/7 unmanned smart pantry that helps to save time and work hours on maintaining an actual pantry. There are now over 600 companies that are using IJOOZ Smart Fridge, according to the company.  

With the pandemic over in 2023, IJOOZ restarted its overseas expansion entering the Japanese market with over 400 machines. It now operates 1,300 machines in various Japanese cities. The brand has plans to enter the US market with New York City as the first top. IJOOZ is also eyeing an initial public offering (IPO) in the US for 2027.

Key Events:

• 2019: Begins franchising and expands to over 30 countries.
• 2020: Begins orange peel recycling program to repurpose peels into animal feed and fertilisers.
• 2022: Launches Smart Fridge, an unmanned cashier-less smart pantry for workplace.
• 2023: Enters the Japan market with over 400 machines.
• 2025: Now operates 1,300 machines in Japanese cities, like Tokyo, Osaka and Nagoya.

5. Xjera Labs

Established since 2013 in Singapore, Xjera Labs is a provider of AI and deep learning-based video analytics solutions. It offers detection and analytic software platforms for vehicle and human traffic applications, as well as emotional analysis and facial recognition.

Xjera Labs won first place in Infocomm Development Authority’s (IDA) inaugural Video Analytics Challenge in 2015. Two years later, it won the Changi Airport Video Analytics Challenge. The wins enabled the company to get contracts as well as finetune its technology.

In 2018, the company launched its proprietary Athena Platform, a multi-layer neural network system for singling out individuals or vehicles that have specific attributes from video footage. Its technology has since been accredited by Infocomm Media Development Authority (IMDA) the same year.

Xjera Labs’ comprehensive portfolio of video analytics solutions in human, vehicle and object detection, combined with its highly flexible architecture and ease of configuration, allows their solutions to be deployed across many different markets.  Xjera Labs since has expanded its operations to overseas, with offices in Thailand, Vietnam, China and Italy, while Singapore remains its headquarters.

In 2023, Xjera Labs became an industry member of Advanced Remanufacturing and Technology Centre (ARTC), aligning itself with a key player in Singapore’s manufacturing sector. Its clients over the years include Singapore Police Force, Changi Airport, Sentosa and Panasonic. Since day one, its mission continues to be about ensuring a city’s infrastructure to be safe and secure by translating video footage to meaningful and actionable insights.

Key Events:

• 2013: Founded in Singapore with a vision of using automation to solve large-scale challenges like traffic management.
• 2015: Wins IDA inaugural Video Analytics Challenge.
• 2017: Wins Changi Airport Video Analytics Challenge.
• 2018: Launches proprietary Athena platform. Gets accredited by IMDA.
• 2022: Wins A*STAR Advanced Manufacturing Visual AI Challenge.
• 2023: Joins Advanced Remanufacturing and Technology Centre (ARTC).

6. Sentient IO

Founded in 2017 by Singaporean serial entrepreneur Christopher Yeo, Sentient IO offers an AI-as-a-service platform that allows developers to integrate advanced AI capabilities into their applications without needing in-depth expertise.

Sentient IO’s micro-services approach - spanning categories like natural language programming, computer vision, data analytics and voice - makes it easier for businesses to adopt AI technologies, thereby democratising access to cutting-edge innovation.

In 2018, it was awarded a Digital Platform grant by IMDA. The next year, Sentient.io signed on its first Japanese client. In 2022, it launches ScribeRabbit, which is an AI-enabled video transcription platform, as well as TeamSpace, a collaborative platform. 

These platforms allow Sentient.io to scale operations from developing chatbots that recognise local lingo for banks, to subtitling services for media companies and even defect detection for a steel precision parts company. Its clients include IHI, Brother, Daido Steel, and Mediacorp.

Key Events:

• 2018: Awarded the Digital Platform Grant by IMDA.
• 2019: Launches its AI & Data Platform. Signs its first Japanese client.
• 2020: Closes its Series A funding with US$5 million raised.
• 2022: Expands into Indonesia with with the incorporation of PT. Sentient Teknologi. Launches Teamspace and ScribeRabbit.
• 2024: Revenue grows to US$8.4 million, according to getlatka.com.