Riyad TAQNIA Fund Invests in Southeast Asian Startup Eureka

The company will expand to the Middle East as part of its global expansion plan.
Riyad TAQNIA Fund Invests in Southeast Asian Startup Eureka
Riyad TAQNIA Fund co-led the round.

Eureka, an AI enterprise software company powering mobile operator and enterprise partnerships, and telco analytics, has secured a $20 million Series B round. Through the investment, Eureka aims to fund its global expansion.

Riyad TAQNIA Fund was among the leading investors in the round. The round was also co-led by Apis Partners, Gobi Partner and MEC Ventures. Other investors that participated in the round included SG Innovate, GDP Ventures, Pacific Bridge and Cianna Capital. They join existing investors in the company that include Softbank, PPF Home Credit, and East Ventures.


“We are very excited to bring Eureka to the Middle East. Our investment, along with our GCC-wide network, will help Eureka roll out its flagship credit score product across the region. This would create untapped revenue streams for financial institutions and provide financial products to customers who previously were unable to access them due to the lack of a credit score.”

Ivo Detelinov, Vice President, Riyad TAQNIA Fund

Eureka has built an AI enterprise software platform, Spectrum, that organizes mobile telecom data to deliver actionable intelligence. It enables enterprises in industries including banking, insurance, and transportation to partner with mobile operators to deliver better services to their customers. At present, Eureka is partnering with operators across Southeast Asia, India, and the Middle East with a collective mobile subscriber base of over one billion customers and is now expanding into Europe and the United States.

“We are excited to have a leading global group of institutional investors join us in our mission to help mobile operators partner with enterprises. Mobile operators provide the infrastructure for the digital economy, and partnerships with enterprises will enable both to better serve their customers. Our new investment partners will help us both deliver in our current markets, and complete our global footprint.”  Benjamin Soemartopo, CEO, Eureka

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