Fano Labs, a Hong Kong-based company specializing in “language artificial intelligence technologies,” has closed its Series B funding round, led by Openspace Ventures. Other investors participating in this round include HSBC, Greater Good Investment, and the family office of Hong Kong billionaire Kenneth Lo, alongside existing shareholders. Fano Labs did not disclose the specific amount raised.
Established in 2015 as a spin-off from the University of Hong Kong, Fano Labs offers a range of AI-driven solutions, including an AI transcriber, chatbot, and voicebot capable of handling conversations in multiple languages across diverse linguistic contexts.
Fano Labs focuses on addressing common challenges encountered in multilingual environments, prevalent in regions like Singapore and across Asia. For example, one of its upcoming products, Callinter, can swiftly analyze audio recordings to detect instances of misconduct or misselling, tackling compliance challenges often faced in the financial services industry.
The recent capital infusion will fuel Fano Labs’ expansion in the Asia Pacific region, with a particular focus on establishing an office in Singapore to serve international clients.
Miles Wen, co-founder, and CEO of Fano Labs, expressed enthusiasm for the company’s expansion into the APAC market. Lead investor Openspace Ventures echoed this sentiment, with Jessica Huang Pouleur, a partner at the investment firm, stating that the move “will unlock new avenues for growth and reinforce [Fano Labs’] position as a leader in the industry.”
With robust investor backing and expansion plans underway, Fano Labs is well-placed to leverage the AI trend and solidify its leadership in language AI technology, paving the way for further innovation and growth.