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Singapore tech startup Advance Intelligence Group announces USD400M+ Series D round financing led by SoftBank Vision Fund 2, Warburg Pincus

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Advance Intelligence Group (“the Group”), a Singapore-headquartered AI-driven technology company today announced the closing of its USD400M+ Series D round financing from an investor consortium led by SoftBank Vision Fund 2 and Warburg Pincus. Other key investors include Northstar, Vision Plus Capital, Gaorong Capital and Singapore-based global investor EDBI. With a valuation of over USD2 billion,  the Group is now one of the largest independent technology startups based in Singapore.

Founded in 2016, the Group has built an ecosystem of AI-powered, credit-enabled products and services, including Asia’s leading BNPL platform Atome, SaaS big data analytics and enterprise solutions provider ADVANCE.AIIndonesia’s top digital lending platform Kredit Pintar and omnichannel ecommerce merchant services platform Ginee.

The Group employs 1,500 staff and currently operates in 12 markets across South and Southeast AsiaGreater China, and Latin America. Today, its enterprise and consumer business serve more than 800 enterprise clients, 100,000 merchants and 20 million consumers.

The Group plans to use the new capital to fuel the growth of its BNPL and digital lending presence across Asia, deepen AI and big data analytics capabilities and enterprise client coverage, and grow its global talent pool. In addition, the Group looks to leverage its investors’ deep network, experience and expertise to maximise partnership and commercial opportunities.

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Jefferson Chen, Co-Founder, Group Chairman and CEO of Advance Intelligence Group, said: “We reached a significant milestone today, made possible by our clients, customers, partners, investors and colleagues who believe in the transformative ability of AI to power tomorrow’s digital economy. At the heart of our vision is an AI-powered and credit-enabled marketplace ecosystem driving both digital commerce and digital financial services across Asia. The new financing will also accelerate the digital transformation of enterprises and merchants, big and small, while enabling more equitable access to credit and financial inclusion for both underbanked and underserved consumers and businesses.”

Greg Moon, Managing Partner at SoftBank Investment Advisers, said: “Powered by AI and big data, Advance Intelligence Group provides a diverse suite of financial products and services to consumers and enterprises across Southeast Asia. The Group’s AI-first approach has enabled them to provide innovative solutions and develop new product avenues to create value. We are delighted to partner with Jefferson and his team to support their mission of developing financial services that are both accessible and affordable.”

Saurabh Agarwal, Managing Director of Warburg Pincus, said: “We are excited to enter into this partnership with Advance Intelligence Group and its exceptional leadership team which has a strong track record in AI-based digital lending, technology and risk management. Asia represents one of the largest and fastest growing digital markets globally with a highly connected middle-class population that’s increasingly seeking reliable and flexible solutions to address their unmet credit needs. We believe the Group is well positioned to capture the tremendous growth opportunity in the region with its best-in-class product offerings and differentiated go-to-market strategy. We look forward to collaborating closely with the management team to grow the Group into the leading AI-powered credit marketplace and undisputed leader in digital financial services.”

Patrick Walujo, Co-Founder and Managing Partner of Northstar, said: “We have known and worked closely with Jefferson and his team since Advance Intelligence Group was founded in 2016 and have witnessed first-hand the team’s impressive execution as the company grew from a SaaS-focused analytics solutions provider to Indonesia’s top digital lending platform, and now building its fast-growing BNPL and omnichannel ecommerce enabler business lines. We are delighted to continue partnering management to grow the Group into Asia’s leading AI-powered digital financial services company.”

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Artificial Intelligence

AddSecure to provide proactive fleet technology to avoid DVS consequences

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NORTHAMPTON, England, May 29, 2024 /PRNewswire/ — AddSecure will deploy its latest PSS solution across NE Transport Solutions’ vehicles, ensuring DVS compliance and preventing potential fines.

Leading European provider of secure IoT connectivity and end-to-end solutions, AddSecure, has joined forces with Essex-based transport operator, NE Transport Solutions, to ensure the safety of vulnerable road users across London.
NE Transport Solutions provide general haulage across the UK, operating a fleet of 34 vehicles. The company works with major European suppliers providing last mile delivery of their goods to construction sites across London and needed to make sure every vehicle was ready for the regulation changes coming into force later this year.
Transport for London (TFL)’s Direct Vision Standard (DVS) is due to change in October 2024, meaning heavy goods vehicles (HGVs) will need to fit a Progressive Safe System (PSS) – which warns drivers of the presence of vulnerable road users in blind spots at the nearside and front of the vehicle – if falling beneath the three-star threshold.
With a market-leading PSS offering, NE Transport Solutions approached AddSecure to provide and fit their latest solution to each of its 34 vehicles, ensuring it was operating DVS-compliant fleet and avoiding potential fines.
Zoltan Serfozo, Transport Manager, NE Transport Solutions, said; “With AddSecure as our new supplier, we’re now able to install a standalone solution, that doesn’t need to be integrated with our existing telematics or vehicle cameras. We feel this minimises risk to our business as it’s efficient, effective and avoids vehicle downtime.”
Zoltan has proactively implemented AddSecure’s RoadView BSD solution into his business ahead of the October 2024 deadline, enabling NE Transport Solutions to avoid any potential distruption that might be experienced with an influx of requests nearer the time.
Ensuring the entire fleet is compliant well ahead of the deadline will mitigate any potential restrictions on vehicle entry to London – resulting in a seamless service and customer satisfaction.
Paul Lawrence, managing director at AddSecure UK, said: “The pending changes to operating fleets within the Greater London area is something every operator needs to be aware of. NE Transport Solutions have taken the step of ensuring its vehicles are DVS compliant well ahead of the October deadline.
“We are seeing an increase in businesses looking to install equipment ahead of the changes and urge any operators considering making the change to act sooner rather than later to avoid delays with installation.”
To find out more about Progressive Safe System solutions for your fleet, visit AddSecure.
For more information, please contact:Helena Ferraro, Marketing Manager, Smart Transport UK, AddSecureTel. +443301112636, [email protected] Grandin, Director Corporate Communications, AddSecure GroupMobile: +46 70 689 52 08, [email protected]
This information was brought to you by Cision http://news.cision.com.
https://news.cision.com/addsecure-group/r/addsecure-to-provide-proactive-fleet-technology-to-avoid-dvs-consequences,c3982279
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View original content:https://www.prnewswire.co.uk/news-releases/addsecure-to-provide-proactive-fleet-technology-to-avoid-dvs-consequences-302157827.html

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Green Utopia made in Green Tech Valley 2024

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GRAZ, Austria, May 29, 2024 /PRNewswire/ — When carbon busters combat toxic gases in the atmosphere, when moulded components grow directly from trees or when bacteria as “employees” in industry ensure clean production, then this is Green Utopia – made in Green Tech Valley 2024. Eight short videos show how strong research at the site is making a green future possible.

The climate crisis requires a rapid rethink and innovative solutions. In the second edition of the cross-university and cross-cluster project “Green Utopia – made in Green Tech Valley”, teams of students from local colleges and universities have once again translated current high-tech research at the location into utopian and visionary short videos. Eight utopias were presented on the big stage last week at the high-calibre award ceremony.
Why utopias? The purposeful dreaming that is made possible in this way harbours massive power for the upcoming energy, mobility and resource turnaround. The visions combine technological research and social change. They include the production of hydrogen from pollutants, the use of cyanobacteria for green materials, the suburbs as climate sponges for water and heat, nature as a legal entity, plastic-free compost, wood as a high-tech material, rails as an electric motorway and plant-based blood vessels from the printer. Today’s utopias are tomorrow’s reality
“More and more technologies based on disruptive research for a green future are coming from Europe, especially from Green Tech Valley in the south of Austria. These utopias make economic courage inwardly and excellent research outwardly internationally visible,” says Green Tech Valley Managing Director Bernhard Puttinger. The short videos were created by teams of students from FH Joanneum, TU Graz, the University of Graz and the University of Leoben together with Creative Industries and Holzcluster Steiermark. These are now being widely communicated internationally in a campaign. Eberhard Schrempf, Managing Director of Creative Industries Styria: “Utopias are the reality of tomorrow, according to the motto: We dream it, so we can do it!”
All videos, information and details on: https://www.greentech.at/en/tools/green-utopia
Statements:
Horst Bischof, Rector of Technical University Graz: “‘Sustainable Systems’ is TU Graz’s greatest area of scientific strength. Here, researchers from all disciplines and faculties work together on complex challenges and research sustainable solutions. The spectrum of research topics ranges from future-orientated urban planning, innovative building technologies and the use of renewable energy sources to intelligent energy networks and green mobility. In disciplines such as railway research, hydrogen research or sustainable energy systems, TU Graz is one of the international research leaders. A location becomes a centre of innovation when it thinks and researches across disciplines, institutions and borders and works on solutions for major social challenges. Styria is such a place, where bright minds are uninhibited and inspired to research encouraging utopias. And initiatives like Green Utopia give them the stage.”
Peter Moser, Rector of Montanuniversität Leoben: “The major challenges facing society in the areas of resource scarcity, climate, energy and the environment predominantly require the use of technical and scientific methods. The University of Leoben sees its task as making a significant contribution to overcoming these challenges through excellent research and high-quality education. One current project involves the construction of the new hydrogen centre, which will open in autumn. In future, this centre will conduct research at the highest level into the production of green hydrogen. Or in the field of recycling, where basic principles such as digital, sensor-based waste analysis and sorting technologies are being researched at a research facility. The University of Leoben has always been characterised by its networking and interdisciplinary cooperation. The Green Utopia project will further strengthen the location while benefiting the individual stakeholders. This project also offers space for visionary ideas and bold solutions.”
Martin Payer, Managing Director of FH Joanneum: “As a university of the future, FH JOANNEUM is convinced that green utopias are needed to make the future of our society worth living in. We encourage people to think ahead and conduct research into important topics such as digitalisation, health, climate change, energy and mobility. Students and lecturers at all our institutes are therefore already tackling future topics in a practical way: the Energy Lab and Mobility Lab at FH JOANNEUM in Kapfenberg are researching renewable energies and forms of mobility, among other things. Environmentally friendly aviation is the focus of the Aviation degree programme in Graz, sustainable tourism at the Institute of Health and Tourism Management at FH JOANNEUM in Bad Gleichenberg. And last but not least, our Information Design students deal with green utopias when they visualise the contents of the eight green research utopias of ‘Green Utopia’ in order to communicate them to the public.”
Peter Riedler, Rector of the University of Graz: “At the University of Graz, we provide answers to the questions of our time. For these major challenges, including digital change, social upheaval and the climate crisis, the University of Graz provides solutions and explanations that we bring to the people. For example, our researchers have achieved a breakthrough that could become a game changer for the plastics industry. Chemists have developed a fully recyclable, bio-based epoxy plastic. An innovation with major implications that combines environmental protection and economic efficiency. Scientists at the University of Graz are used to pushing the boundaries of the everyday and rethinking issues. For example, slowing down climate change requires the expertise of many disciplines: natural sciences, social sciences and law. We also cross borders in our collaboration with the universities on site: for example, with Graz University of Technology for 20 years in the NAWI Graz cooperation.”
Enquiries:Veronika Pranger | Communication Green Tech Valley | [email protected] +43 316 407744-16  bzw.  +43 676 75 08 780

View original content:https://www.prnewswire.co.uk/news-releases/green-utopia-made-in-green-tech-valley-2024-302157814.html

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IFS and PwC UK Announce Collaboration for Sustainability Management Solution

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Powerful combination of technology and services will enable decisive sustainability action for customers globally
LONDON, May 29, 2024 /PRNewswire/ — IFS, the leading technology provider of cloud and industrial AI software, and professional services firm PwC*, a recognized Global Leader in ESG and Sustainability, have announced a collaboration to bring to market a Sustainability Management Solution that will include vital technology and services to support compliance with sustainability disclosure requirements and embedding sustainable practices into business operations, including for multi-national organisations.

The initiative will see IFS develop a Sustainability Management module within IFS Cloud. PwC will contribute its expertise in Environmental, Social, and Governance (ESG) criteria and the ever-evolving regulatory landscape to assist in the design and build.
Once completed, the solution will help IFS customers navigate the new requirements of the Corporate Sustainability Reporting Directive (CSRD) and other emerging mainstream global regulatory standards that our customers are facing.
To ensure a seamless journey from start to finish, customers using IFS Cloud can enlist the services of PwC to guide on the wide range of issues facing our customers in relation to this critical aspect of governance, along with mandatory strategic ESG tasks like conducting a double materiality assessment and offering guidance for CSRD readiness.
The module will boast key features such as out-of-the-box CSRD metrics, select IFS Cloud data mapping, approval workflows, target setting, and insights. It will deliver a library of KPIs, including quantitative metrics with calculation logic, all supported by PwC’s ESG experts to ensure credibility. The tool is designed to support customers as they navigate the sustainability disclosure landscape, while helping them remain focused on delivering real business value through identifying opportunities to transition to more sustainable and productive ways of operating.
Mark Moffat, IFS CEO commented: “This strategic coalition between IFS and PwC is not just a technological advantage; it is a commitment to shaping a sustainable and transparent ecosystem. By equipping customers with the necessary tools and data, we are together enabling decisive sustainability action and ensuring we maintain the highest standards in sustainability disclosures.”
Carl Sizer, PwC UK Management Board Member and ESG Sponsor, commented: “We’re thrilled to collaborate with IFS in developing the Sustainability Management module within IFS Cloud. Our expertise in ESG criteria and knowledge of the regulatory landscape will enable us to provide valuable guidance and support in designing a solution that empowers organisations to effectively manage their sustainability initiatives and navigate the evolving regulatory landscape.”
The first version of the Sustainability Management Module is set to launch in the IFS Cloud 24R2 release at the end of November; it is currently under development and will be a cornerstone of this partnership. Alongside the IFS Cloud Sustainability Management module, PwC UK will provide the required services for companies to be compliant for their first CSRD reporting cycle in 2025.
*  Where “PwC” is referenced in this press release it relates specifically to the collaboration with IFS and PwC UK, the UK member firm, part of the PwC network. Each member firm is a separate legal entity.
CONTACT:
Contact information:EUROPE / MEA / APJ: Adam GillbeIFS, Director of Corporate & Executive CommunicationsEmail: [email protected]: +44 7775 114 856
NORTH AMERICA / LATAM: Mairi MorganIFS, Director of Corporate & Executive CommunicationsEmail: [email protected]: +44 7918 607 299
This information was brought to you by Cision http://news.cision.com
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View original content:https://www.prnewswire.co.uk/news-releases/ifs-and-pwc-uk-announce-collaboration-for-sustainability-management-solution-302157744.html

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