Heaptalk, Jakarta — Telkom’s investment arm, Telkomsel Ventures, leads undisclosed funds of Singapore AI developer startup Tictag to maximize AI implementation in the archipelago. This investment was carried out by Telkomsel’s investment unit in collaboration with M Venture Partners, East Ventures, Investible, and SBI Ven Capital.
According to the CEO of Telkomsel Ventures, Mia Melinda, The quality and performance of AI depend mainly on the data used to train it. Thus, he conveyed that this strategic investment is a analyzed measure of this startup’s ability to unlock the full potential of AI through high-quality training data that speeds up data collection, labeling, and processing to help companies increase efficiency.
“This matter aligned with our focus on emerging technologies. This investment is one of our critical moves in realizing the Group’s vision to boost the national digital ecosystem and improve Indonesia’s digital economy acceleration,” Mia added.
Furthermore, this investment will allow the Tictag startup to expand its business reach in Indonesia and Asia to keep up with the rapid growth of the AI market in the region. Founded in 2019 by Artificial Intelligence (AI) professionals Kevin Quah, Lee Jin, and Low Yihang, Tictag aims to resolve the data preparation problem faced by companies working with machine learning models.
The system converts complex annotation tasks into simplified bite-sized, gamified ‘quests on a mobile app platform. In other words, this startup reduces the complexity of data annotation. It converts data into assets by empowering companies to collect, classify, and annotate data of all types accurately while maintaining affordability.
Hitherto, Tictag has served over 50 companies in diverse industries, such as real estate, autonomous vehicles, agriculture, and media, across Asia. This AI startup has also expanded its operations in Singapore, Korea, Malaysia, Hong Kong, the United States, and Indonesia.
Prior to obtaining this new injection, Tictag also secured its Pre-Series A funding at US$1.3 million, led by M Venture Partners, Investible, East Ventures, Farquhar Venture Capital, and Sam Gibb, Managing Partner of Resolution Ventures. The startup used the capital to accelerate its expansion across Asia and enhance its technology.
“Indonesia is a fast-growing AI talent base, with a market readiness to adopt AI technology. The continued trust and support from investors support us in bringing innovation to strengthen the AI ecosystem by partnering with a diverse community of data annotation contributors to contribute to the AI economy,” Co-founder and CEO of Tictag, Kevin Quah, said.
