# AIDA Technologies Pte.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/aida-technologies-pte

- Industry: Software
- Headquarters: Singapore
- Website: www.aidatech.io
- Total disclosed funding: $5.2M
- Latest round: Series A (Sep 29, 2022)
- Investors on record: 4

## About

AIDA Technologies Pte. Ltd. delivers innovative artificial intelligence and machine learning solutions designed specifically for the insurance industry, enhancing efficiency and accuracy in claims processing and fraud detection.Founded in 2016 in Singapore, AIDA Technologies Pte. Ltd. specializes in AI solutions for the insurance sector. The company recently underwent a significant transition, being acquired by Amplify Health Asia Pte. Limited from Kuok Ventures, SEEDS Capital, and SGInnovate on January 10, 2023. CEO Geok Tan, who has a background in technology entrepreneurship, has guided the company through its development phases, focusing on leveraging AI capabilities for operational improvements.AIDA Technologies offers a comprehensive suite of advanced artificial intelligence and machine learning solutions tailored for tier-1 and tier-2 insurance companies. Their products facilitate accelerated claims processing, fraud detection, and operational efficiency through predictive analytics. The company provides its technology as Platform-as-a-Service (PaaS), Software-as-a-Service (SaaS), or On-Premise, helping clients utilize extensive datasets, including unstructured data sources like social media, to identify risks and inefficiencies in real-time. AIDA's clients include prominent insurance firms aiming to enhance their service offerings with innovative technology.In 2022, AIDA Technologies recorded a revenue of USD 1,267,731.40, along with an EBITDA of USD -1,291,672. The company employs a pay-per-use revenue model, allowing clients to subscribe to services based on usage, catering to a diverse range of insurance firms without requiring significant upfront investments.Following the acquisition by Amplify Health Asia Pte. Limited, AIDA Technologies is positioned to expand its capabilities in AI and machine learning. The recent funding will be utilized to enhance its integrated health technology solutions and related intellectual property. The company will focus on introducing new products and expanding into additional international markets, with specific plans to target expansion across Asia by the end of 2023.

## Funding rounds

- Series A, Sep 29, 2022, $0.8M — SEEDS Capital, Kuok Ventures
- Series A, Apr 18, 2019, $3.7M — Mastercard International Incorporated, SGInnovate, Kuok Ventures
- Seed, Jan 31, 2017, $0.7M — Kuok Ventures

## Investors

- Kuok Ventures (https://capitalatlas.ai/funds/kuok-ventures) — Seed, Series A
- Mastercard International Incorporated — Series A
- SGInnovate (https://capitalatlas.ai/funds/sginnovate) — Series A
- SEEDS Capital (https://capitalatlas.ai/funds/seeds-capital) — Series A