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Sequoia makes its first foray into Taiwan with AI investment
Venture capital behemoth Sequoia Capital has made its first incursion into Taiwan, leading a $23 million Series B round investment in Appier, a "smart marketing" company using artificial intelligence.
The startup, which announced its investment on Tuesday, uses AI to tracks the browsing habits of web audiences across multiple devices in order to provide better targeted advertising.
UOB Venture Management, JAFCO Asia, TransLink Capital, and MediaTek Ventures are among those who also took part in the deal which brings Appier's total funding to $30 million. CEO and co-founder Chih-Han Yu, who has seen his company grow 600% since its Series A round in June 014, said:
“We are living in a post-mobile era: the era of cross screen. Artificial intelligence is the best approach to resolve this complexity and make cross screen easy. In fact, advertising is just the beginning. We believe in the future our AI can help businesses solve a variety of difficult analytical problems.”
Photo: Allan Ajifo