Cogent Labs, an AI solutions provider based in Tokyo Japan, announced that it has raised 1.4 billion yen (US$13 million) in a series C funding round from a major global bank (through a third-party allotment of shares) and Japan Finance Corporation (through Capital Subordinated Loan) bringing its total funding to 4.2 billion yen (US$39 million) .
The investor major global bank that offers a broad portfolio of financial services in the Middle East and Europe. Cogent Labs received an investment by the bank in recognition of the company’s track record and technologies.
The company is planning to utilize the fresh funds to strengthen its product offerings focused on providing operational efficiencies, including its Kaidoku natural language processing platform .
In addition, the capital will be used to further accelerate its overseas expansion in Asian markets by localising its existing services. It has already started its entry into South Korea and is currently cooperating with local business partners there, according to a statement.
The company will also enhance its natural language processing (NLP) capabilities as the company planning to develop an education service and an enterprise search engine based on the technology.
The company offers four services,
- Tegaki – Handwriting to Text AI-OCR
- Kaidoku – Natural Language Understanding & Processing Platform,
- TSF – Time Series Forecasting,
- Custom AI Consulting