CloudMile raises USD $20 million for Southeast Asia AI growth

CloudMile has secured USD $20 million in funding to accelerate its artificial intelligence expansion across Southeast Asia, focusing on new industry solutions and regional growth.

The Taiwan-based AI firm's funding round was led by NEXUS CVC and included participation from TFB Capital, the venture arm associated with Fubon Group, one of Taiwan's major financial institutions. This investment will be used to develop and deploy AI solutions in key sectors and strengthen CloudMile's footprint in markets such as Singapore, Malaysia, Indonesia, and the Philippines.

Investment strategy

NEXUS CVC brings its expertise from Taiwan's technology ecosystem to the partnership, in particular to fast-track AI applications for industries including semiconductors and electronics manufacturing. TFB Capital, meanwhile, is prioritising AI and cybersecurity integration within financial services, building on existing digital finance initiatives by Fubon Group.

"NEXUS CVC views cloud services as a critical foundation for enabling AI and cybersecurity applications. CloudMile's proven track record in Taiwan, Singapore, and multiple Southeast Asian markets, combined with its Hybrid Cloud and Hybrid AI expertise, makes it a key player in driving the convergence of cloud, AI, and cybersecurity," said PC Chen, Managing Partner & CEO at NEXUS CVC.

TFB Capital emphasised its ongoing investment in local tech startups. "Fubon Group has long been committed to nurturing Taiwan's startup ecosystem. By combining CloudMile's AI strengths with Fubon's diverse financial applications, we will accelerate the adoption of generative AI while advancing ESG strategies and enhancing customer experience," the investor said.

Business focus

CloudMile's expansion will concentrate on three primary pillars. The first, MileAI, provides sector-specific AI agent applications designed for high-tech, finance, retail, and education industries. The second, MSSP, centres on security-driven AI development, drawing on the Managed Security Service Provider model to help prevent enterprise risks. Lastly, LumiTure.ai is the firm's self-developed AI-driven platform aiming for financial and operational optimisation across multiple cloud environments.

The LumiTure.ai platform has already been rolled out in finance, technology, healthcare, and education organisations in Southeast Asia. With this new funding, CloudMile expects to further scale its adoption, particularly for clients seeking to manage cloud costs and improve operational efficiencies alongside digital growth.

Regional growth

CloudMile has doubled its annual revenue across its Southeast Asian markets including Singapore, Malaysia, Indonesia, and the Philippines within the past two years. Its regional strategy is supported by dual headquarters in Singapore and Taiwan, a recently established AI Centre of Excellence in Malaysia, and local research and development centres.

The company's partnerships with public sector bodies such as Singapore's Economic Development Board (EDB) and Malaysia's Cradle are intended to foster local innovation and support for CloudMile's services. Local engineer and consulting teams provide direct language and technical support, helping organisations tailor their own digital transformation processes using CloudMile's technology.

Management perspective

"CloudMile will continue to advance AI Agent-driven solutions to meet the burgeoning market demand in Southeast Asia," said Spencer Liu, Founder and Chairman of CloudMile Group. "Our strong regional presence and partnerships facilitate us to connect global technological innovation with the unique needs and growth potential of the region. Our mission is to be the key driving force that empowers enterprises to harness AI effectively, helping organizations across Southeast Asia turn their AI vision into real business value."

CloudMile, which serves over 1,400 clients, aims for its platform and expanded services to further enable enterprises across the region to manage digital risk, drive adoption of AI business processes, and support their ambitions for operational improvement and financial sustainability.