Fano Labs, the leading provider of performance language AI solutions, today announced the successful closure of its Series B round. Openspace Ventures, a leading venture capital firm in Southeast Asia, led the investment round, with participation from HSBC, Greater Good Investment, the family office of Mr. and Mrs. Kenneth Lo, and existing shareholders.
With this new funding, Fano Labs will expand its footprint in further markets through the establishment of an office in Singapore, which will serve as the hub for overseas clients. Additionally, further investment will go into developing the product, with a focus on adding more APAC languages and launching its suite of Large Language Model products.
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Fano Labs is a performance language solution provider that uses AI to develop specialized Automatic Speech Recognition, Speaker Diarization, Voice Biometrics, Speech Synthesis and Natural Language Processing technologies for enterprise and public sector organizations. It has an in-house R&D team led by leading international scientists, researchers and artificial intelligence experts.
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Founded in 2015 as a spin-off from the University of Hong Kong and incubated by the Hong Kong Science and Technology Parks Corporation, Fano Labs has achieved significant milestones in securing enterprise clients in both private and public sectors, including HSBC, Citibank, DBS Hong Kong, Hang Seng Bank, The Bank of East Asia, Cathay, China Mobile Hong Kong, amongst others.
“We are thrilled to receive strong support from Openspace Ventures, HSBC, and Greater Good Investment, which will fuel our expansion into the dynamic APAC market, by establishing our office in Singapore and leveraging our expertise in multilingual and mixed-language speech recognition, we are well-positioned to drive innovation and deliver impactful solutions that address the evolving needs of our customers in the APAC region,” said Dr. Miles Wen, the Co-founder and Chief Executive Officer of Fano Labs.
About Fano Labs
Fano Labs is an AI firm that specialises in voice and natural language processing technology to support businesses in other areas such as compliance and customer service. They are concentrating especially on languages that are mixed in Southeast Asia, the Middle East, and Hong Kong.
