Daily Briefing: SIA slashes flights; AI firm Eureka bags $27.8m in Series B round

And software company Credify has raised $1.39m in seed funding.

From Bloomberg:

Singapore Airlines will cut more flights across its global network through May as the outbreak of the novel coronavirus discourages people from traveling.

The carrier and its SilkAir unit will reduce flights to cities including New York, London, Frankfurt, Tokyo and Sydney, according to a statement on its website Tuesday.

The company warned Friday that it faces “significant” challenges due to the virus and will make adjustments to its services when needed.

Read more here. 

From DealstreetAsia:

Singapore-based artificial intelligence (AI) enterprise software company Eureka has raised $27.8m (US$20m) in a Series B funding round co-led by a global investor group of Apis Partners, Gobi Partners, Riyad TAQNIA Fund – RTF, and MEC Ventures, according to a statement. 

Other investors who participated in the round include SG Innovate, GDP Ventures, Pacific Bridge and Cianna Capital along with its existing backers Softbank, PPF Home Credit, and East Ventures.

The company said that the funding will be used to support its international expansion plans and further develop its product portfolio. At present, Eureka caters to operators across Southeast Asia, India, and the Middle East. It is in the process of expanding to Europe and the US. 

Read more here. 

From DealstreetAsia:

Singapore-based software development company Credify has raised $1.39m (US $1m) in a seed funding round from venture capital firm Beenext and Deepcore, a Japanese artificial intelligence-focused incubator set up by SoftBank.

Credify’s product connects e-commerce marketplaces and lending platforms.

The company said that it will use the funds to enhance its suite of products, further localise its software development operations in South East Asia, and move ahead with its live client engagements.

Read more here.