# Pencil Technologies Pte.

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

- Industry: Software
- Headquarters: Singapore, Singapore
- Website: www.trypencil.com
- Total disclosed funding: $3.9M
- Latest round: Series A (Apr 28, 2020)
- Investors on record: 4

## About

Pencil Technologies Pte. Ltd. is a Singapore-based company specializing in generative AI tools that enhance advertising productivity by automating the creation of ad copy and visuals, significantly streamlining the creative process for brands and agencies.Founded in 2018, Pencil Technologies Pte. Ltd. focuses on providing generative AI solutions for advertising. The company is headquartered in Singapore and has completed a total of 5 deals. The founders include James Chadwick, Sumukh Avadhani, and Will Hanschell, who currently serves as the CEO. In its latest funding round, the company raised USD 0.80 mn from Surge and Wavemaker Partners, which accounts for the total amount raised to date.Pencil offers a suite of generative AI tools designed to improve advertising productivity. Its platform allows users to create ad copy and visuals via a chat function, automating 90% of the creative workload. Serving brands and agencies, the platform supports over 5,000 clients across various industries, including consumer goods, food and beverage, and healthcare. It enables team collaboration for ad creation and management, optimized for media platforms like Meta, TikTok, YouTube, and Google Display, primarily targeting markets in North America, Europe, and Asia.In the most recent fiscal year, 2022, Pencil Technologies reported a revenue of USD 398,129.90, along with an EBITDA of USD -617,095.70. The company's revenue model is subscription-based, granting clients access to its generative AI tools for ad creation and management, further enhanced by enterprise offerings that include bespoke training models. Clients can utilize the platform to create high-performing ads while retaining intellectual property rights associated with their outputs.Pencil Technologies aims to expand its product offerings with new generative AI tools scheduled for release in the upcoming year. The company plans to enter new markets, particularly in Europe and North America, by the end of 2024. Recent funding, including a venture investment from XA Network, will be utilized to support these initiatives, enhancing their product development and market outreach.

## Funding rounds

- Series A, Apr 28, 2020, $2.8M — Wavemaker Partners, SGInnovate, Entrepreneur First, Surge
- Seed, Jan 8, 2019, $1.1M — Wavemaker Partners, Entrepreneur First, SGInnovate

## Investors

- Wavemaker Partners (https://capitalatlas.ai/funds/wavemaker-partners) — Seed, Series A
- Entrepreneur First (https://capitalatlas.ai/funds/entrepreneur-first) — Seed, Series A
- SGInnovate (https://capitalatlas.ai/funds/sginnovate) — Seed, Series A
- Surge (https://capitalatlas.ai/funds/surge) — Series A