XCEL NEXT announced the first batch of investments covering Asia, Europe and the U.S., echoing the business opportunities of artificial intelligence and metaverse. They include AI video surveillance platform IronYun, AI SaaS-based hiring platform X0PA, smart retail startup Dayta, and live hologram solution provider IMVERSE.
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“Officially launched in November 2021, XCEL NEXT was founded by the Taiwan Accelerator (TA) team. We extend our experience of running accelerator programs over the past five years to venture investments in Asia and globally, with the aim of helping founders build the next market leading companies that will transform industries, and make people’s life better in the new digital borderless world,” said Founding Partner K. Yu.
With presence in Taipei, Singapore and Silicon Valley, XCEL NEXT invests in AI, edge computing, mobility, healthtech, smart manufacturing, fintech, blockchain, metaverse, and next-gen technology startups. The size of its first fund is US$25 million, and the second closing is currently underway. TA itself has been transformed into a startup ecosystem connector and event platform, hosting the annual X-PITCH Global Contest.
Managing Partner James Ku introduced that IronYun is a US-Taiwan startup that provides AI-enabled video search and analytics for security, health, safety, and operations. Its services are used by more than 400 corporations and organizations in over 30 countries, including bigtechs, automakers and government agencies. IronYun is the Gold Award winner of X-PITCH 2021 and completed its Series B funding round in January.
Recognized by IDC as one of four innovators in Asia-Pacific that provides AI-powered automation solutions, X0PA (www.x0pa.com) is a Singapore startup that provides AI SaaS-based talent acquisition platform. With key partners including Microsoft, SAP, Oracle, Intel and NVIDIA, X0PA enhances the hiring processes for governments, academia and enterprises. The company completed its Series A funding round in December last year.
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Co-founders of the Hong Kong-based startup Dayta AI (www.dayta.ai) was named in “Forbes 30 Under 30 Asia 2021” list, they provide cloud video analytics empowering offline retailers for data innovation. The company serves global luxury brands, major property developers, shopping malls, restaurants, retail and grocery stores. Dayta AI is the Silver Award winner of X-PITCH 2021 and completed its Pre-A funding round in December last year.
IMVERSE (www.imverse.com) is a Switzerland startup that provides voxel solutions for live holograms and real-time 3D graphics with applications across social media, entertainment, gaming, education, e-commerce, remote work and virtual meetings. Clients and partners include bigtechs and gaming companies. The company is the winner of CES 2021 Best Innovation Awards and completed its Pre-A funding round in December last year.
“We have invested a total of US$1.1 million in these four startups, and our co-investors include ROBO Global, Enterprise Singapore, ICCP SBI Venture Partners, an international real estate group, Taiwan and Hong Kong public companies, as well as other American, European and Asian investors. XCEL NEXT expects to invest and accelerate around 100 startups over the next three years,” Managing Partner & CFO Brent Hu revealed.
In addition, XCEL NEXT actively promotes corporate innovation. Jason Liu, the Managing Partner in charge of the program, said that large enterprises will foster industry transformation and upgrading by cooperating with startups, while founders can obtain more resources to speed up product and business development. It is a win-win situation. The first program with the theme of “Smart Mobility” was recently launched. Participants include startups, incubators and a major automaker who is a LP of XCEL NEXT venture fund.
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