AI platform Silent Eight has announced the closing of a $40m Series B funding round, which was led by TYH Ventures with OTB Ventures, Wavemaker Partners, SC Ventures (Standard Chartered Bank's venture unit), Aglaia, and Koh Boon Hwee, Chairman and General Partner of Altara Ventures, following after.
Kolya Miller from TYH Ventures will be joining the board while the company’s latest clients, HSBC Ventures also become their latest investor .
Ore Adeyemi, Managing Director and Head, Strategic Innovation Investments, HSBC said, "HSBC has been pleased with the progress made by Silent Eight's AI platform," said. "We look forward to continuing to strengthen our partnership through this investment, and we are excited that my colleague Tom Caine is also joining as a Board Observer to help drive this investment partnership".
After their latest funding, Silent Eight has raised $55m to date. The platform, which also checks economic AI sanctions and prevents financial crime, may create a ‘ripple effect’ among many top companies with the rising demand of investing in cybersecurity and AI based solutions.
"We are here to support our customers and the policy makers of the world by ensuring that the benefits of the most advanced Artificial Intelligence systems are available on the frontlines of crime fighting," said Martin Markiewicz, Silent Eight CEO and Founder.