Singapore-based AI Automation Company, Bluesheets, Raises US$6.5M in Series A Funding Round Led by Illuminate Financial
Bluesheets, a Singapore-based AI automation software company, has secured US$6.5 million in a Series A funding round, led by Illuminate Financial. The funding will play a crucial role in advancing bluesheets' exclusive AI capabilities, empowering them to assist a broader range of clients in digitalizing and automating their processes, ensuring competitiveness in the AI-driven era.
Illuminate Financial is UK based financial services focused VC fund that is backed by BNY Mellon, J.P Morgan, Citi, SGX, Barclays, Euroclear, S&P Global, Jefferies and Deutsche Börse Group. Bluesheets’ early investors, such as 1982 Ventures and Insignia Ventures Partners, and new investor Antler Elevate fund also participated in the round
UK-based financial services VC fund Illuminate Financial led the funding round with participation from Antler Elevate Fund and early investors, such as 1982 Ventures and Insignia Ventures Partners.
The fresh funds will support AI product development, market expansion and strategic hires at the management level.
Bluesheets leverages millions of financial data points to train AI models for process automation across various industries. Bluesheets client base has expanded across Asia-Pacific, United States and Europe. The Series A funding will be utilized to deepen existing coverage in their core client segments of banking, insurance, supply chain and procurement and finance and accounting services. Bluesheets’ clients include multinationals such as, Mitsui Sumitomo Insurance Group (MSIG), SCG, Teckwah, Gamuda Berhad, Leong Hup International and Commonwealth Capital.
"Bluesheets is on a mission to redefine the landscape of data processing and process automation. Our Series A funding, led by Illuminate Financial, marks a pivotal moment for us as we accelerate the development of our AI product range," said Christian Schneider, CEO and Co-founder of bluesheets. "This investment not only strengthens our position as a leader in the AI automation space but also underscores our commitment to providing innovative solutions that empower businesses across different sectors and geographies." All major businesses face the challenges of processing unstructured data in multiple formats, languages, currencies, and from both digital and physical sources. bluesheets AI-based data processing is already serving major financial institutions and 100+ SMEs that power their automated workflows and leverage generative AI (GenAI) with bluesheets. Businesses who embrace AI technologies will get a head start in creating significant value for their stakeholders, putting them ahead of the AI-led data transformation curve.
Herston Powers, Founding Managing Partner of 1982 Ventures, stated “Bluesheets is working with major enterprise clients to leverage their rich company data and the power of large language models and generative AI, while maintaining the client’s control, security, and ownership of their data. This an extremely powerful value proposition and why we were excited at doubling down on bluesheets.” He continued, “Bluesheets has demonstrated their competitive edge working with multinationals to transform data and automate workflows through AI and machine learning”.
As part of the financing, Herston Powers joined the bluesheets’ Board of Directors. The fresh capital infusion will support AI product development, market expansion and strategic hires at the management level, bringing in talent from well-established tech companies.