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    EDBI Invests Strategically in AI Market Intelligence Platform AlphaSense

    Singapore’s Economic Development Board’s investing arm, EDBI, has made an undisclosed strategic investment in AlphaSense, the artificial intelligence (AI) market intelligence platform. This investment is part of the larger US$150 million Series E funding round, led by Bond Capital with participation from existing investors CapitalG and Goldman Sachs, which valued AlphaSense at US$2.5 billion.

    Charmaine Kng, Partner of Investments at EDBI, emphasized the significance of this partnership, stating, “EDBI’s partnership with the company highlights our commitment to attracting innovative tech companies that enhance business capabilities in Singapore and across the region, contributing to the nation’s digital transformation movement and enhancing workforce productivity.”

    The funds injected through this investment will support AlphaSense in expanding its searchable business content collection and exploring strategic acquisitions. While no specific acquisition targets have been identified at present, the platform plans to utilize the investment to accelerate research and development, enhance generative AI offerings, develop large language models, and broaden its customer base across sectors, verticals, and geographies, according to Kiva Kolstein, President, and Chief Revenue Officer at AlphaSense.

    This move follows AlphaSense’s earlier announcement designating Singapore as its Asia-Pacific (Apac) hub in July 2023. Mark Leadercramer was concurrently appointed as the Apac Regional Director, signifying the platform’s commitment to strengthening its presence in the region.

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