Sequoia China Leads $210m Funding in Singapore’s Envision Digital

The yield on benchmark 10-year US Treasury notes hit 3.498% in mid-June – the highest since April 2011 - pushing up rates companies have to pay investors. File photo: Reuters.

Singapore-based provider of artificial intelligence and internet technologies software Envision Digital has raised $210 million, led by venture capital firm Sequoia China and backed by Singapore sovereign wealth fund GIC.

In a statement, Envision Digital, which is a part of Chinese renewable firm Envision Group, said the Series A funding will help it to expand operations and fund research and development activities.

“We are confident of the long-term growth potential of Envision Digital,” Choo Yong Cheen, chief investment officer of private equity at GIC, said in the statement.

The firm said its proprietary tech operating system connects and manages more than 200 million smart devices and 400 gigawatts of energy assets globally.

It employs more than 900 employees and has 13 offices across Britain, France, China, the United States and others. Envision Digital’s more than 500 customers and partners span the retail, industrial, energy and transportation sectors.

Reuters with additional editing by Sean OMeara

China Remains Vital as Sequoia Names New Senior Steward

Japan’s Seibu to Sell Assets to GIC in $1.3bn deal – Nikkei

Malaysia’s Iimmpact Wins Funding from Sequoia Capital India

Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.