Singapore, the AI capital of the world?

The success of locally founded, billion-dollar-valued company PatSnap points the way forward for the Republic’s place in the Future Economy

Singapore has already started to push AI as part of its core economic strategy for the Future Economy. PHOTO: LIANHE ZAOBAO
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A Singapore-founded company, PatSnap, last week joined the ranks of global technology unicorns when it raised US$300 million (S$404 million) in its latest funding round.

A unicorn is a term used in the technology investment circle to refer to companies with a valuation of US$1 billion or more. With the fresh funding round, PatSnap's valuation now tops that magic number, with tech investment giants SoftBank Vision Fund 2 and Tencent Investment among those backing the company.

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