TLDR:
– Fano Labs, a Hong Kong AI firm, has closed its Series B funding round led by Openspace Ventures.
– The funding will be used to expand into the APAC market, with plans to establish an office in Singapore.
Fano Labs, a Hong Kong provider of performance language artificial intelligence (AI) solutions, has successfully closed its Series B round with Openspace Ventures leading the investment. Other investors include HSBC and Greater Good Investment. With this new funding, Fano Labs plans to expand its footprint in further markets through the establishment of an office in Singapore, which will serve as the hub for international clients. The company also plans to develop their product by adding more APAC languages and launching large language model (LLM) products.
Founded in 2015 as a spin-off from the University of Hong Kong, Fano Labs has achieved significant milestones and secured enterprise clients in both private and public sectors. The firm specializes in automatic speech recognition, speaker diarization, voice biometrics, speech synthesis, and natural language processing technologies. With the new funding, Fano Labs aims to drive innovation and deliver impactful solutions to address the evolving needs of customers in the APAC region.
According to Dr. Miles Wen, the Co-founder and CEO of Fano Labs, the support from investors will fuel their expansion into the dynamic APAC market. Openspace Ventures believes that Fano Labs’ dedication to innovation and proven track record in the AI space make them an exciting investment opportunity. HSBC also sees the potential for Fano Labs’ Voice AI technology to drive improvements in banking operations and customer servicing quality.
In conclusion, Fano Labs is poised for growth in new international markets with its latest funding and strategic expansion plans. The company aims to solidify its position as a global leader in language AI research and technology.
