A Singapore-based on-premises artificial intelligence (AI) provider, HaviVe.Tech has raised $1 million in pre-series seed round funding led by led by Mohan K, Founder and CEO of IppoPay.
The infusion of pre-seed funding will enable HaiVE.Tech to scale up its operations by expanding its engineering and marketing teams.
“By bolstering its workforce, the company aims to cater to both its existing client base and the extensive waitlist it has accumulated. The expansion efforts will focus on meeting the increasing demand for AI services across various industries and markets,” the statement said.
Speaking about the funding round, Deepika Loganathan, Co-Founder & CEO of HaiVE.Tech said, “This investment will fuel our mission to provide on-premise AI services, ensuring data privacy and intellectual property control for our clients. HaiVE believes AI is a game-changer for businesses looking to scale up. Our AI solutions ensure complete data privacy and control but also allow our customers to seamlessly integrate their preferred tools. This flexibility, combined with our commitment to delivering exceptional AI capabilities, will drive our growth and establish HaiVE.Tech as the go-to provider for businesses seeking AI-powered solutions.”
Commenting further on the investment in HaiVE Tech, Mohan K, Founder, and CEO of IppoPay said, “HaiVE is the game-changer for companies venturing into AI without risking their own competition. Just like a renowned food delivery startup that conquered the market by leveraging service scaling options, HaiVE empowers businesses by accumulating crucial data insights. By understanding the most popular food types in every neighborhood, they cleverly established cloud kitchens and expertly poached talent to offer high-volume products under their own brand. This strategic approach serves as a powerful lesson for any company relying on third-party hosted AI services. As an investor in HaiVE, I confidently endorse their solution for any company desiring AI integration without internal competition.”