Reuters exclusively reports Singapore’s ADVANCE.AI raising $200 mln from Warburg Pincus-led investors

Reuters exclusively reported that Singapore-headquartered tech startup ADVANCE.AI is raising about $200 million in a funding round that will propel it into a small group of Southeast Asia unicorns – unlisted companies valued at $1 billion or more. The backing from Warburg Pincus, one of the world’s biggest private equity firms, is expected to help ADVANCE.AI scale up its business significantly. Investments from large global funds usually help startups notch higher valuations in subsequent funding rounds.