Singapore’s Toku raised $5 M Series A extension funding from Betatron Venture
Toku, a Singapore-based company that offers customer experience and enterprise cloud communications solutions, announced that a $5 million Series A extension round led by Betatron Venture Group had been completed.
According to a statement from Toku, the investment, which also included involvement from the Hong Kong Innovation and Technology Venture Fund (ITVF) and other investors, brings the company’s total funding since its April 2018 launch to $18 million.
This latest investment will support Toku’s ongoing global expansion and develop its in-house artificial intelligence (AI)-powered customer engagement solutions, the statement said.
The new funding will also help Toku continue to develop its AI Voice Agent and AI Chat technologies, which are intended to improve customer interactions in a variety of languages and regional dialects.
In markets with a high degree of linguistic and cultural diversity, Toku’s proprietary solutions are particularly valuable, which makes them perfect for use not only in Asia-Pacific but also in other regions like South America and Europe.
In 2024, Toku hopes to generate more than $30 million in revenue and is still on course to become profitable.
Toku plans to use this most recent funding to expand in Hong Kong and strengthen its position in APAC, while also opening up new markets in South America and Europe.
With an emphasis on cost reduction, targeted market entry, and revenue growth, the company expects to turn a profit in 2025 as it grows to satisfy rising demand in these various markets.
Alongside this financial achievement, Toku has formed an Advisory Board, whose chair is Lim Hwee Hua, to direct its strategic expansion.
As it expands its operations, this action demonstrates Toku’s dedication to sound governance and strategic insight.
“Our focus is on creating AI solutions that excel in handling complex language and voice interactions, particularly in environments where mainstream providers often fall short,
“With this latest investment and Lim’s guidance, we are well-positioned to bring innovative and adaptable solutions to businesses globally,” said Thomas Laboulle, Founder and Chief Executive Officer of Toku.
The statement claims that Lim, a former Singapore Minister and seasoned executive with experience in both the public and private sectors, offers Toku unmatched knowledge of strategy, finance, and governance.
Following her 1996 election to the Singaporean Parliament, she has held a number of significant positions in Parliament and ministerial roles throughout her illustrious career.
She gains a deep comprehension of regulatory affairs and economic policy as a result.
Lim has held executive positions in the private sector, including managing director of Temasek Holdings, where she oversaw partnerships and strategic reorganization.
