CloudMile has raised $20 million in a strategic funding round to expand its AI solutions.

The funding is aimed at accelerating the expansion of CloudMile's AI solutions in the Southeast Asian market. The round was led by NEXUS CVC, with participation from TFB Capital, the venture capital arm of Taiwan's Taipei Fubon Bank Financial Group.

Capital allocation and Investor goals

Strategic investors will support CloudMile in applying AI to specific fields. NEXUS CVC – a venture capital and private equity firm in Taiwan’s high-tech ecosystem – will help CloudMile accelerate AI applications in the electronics and semiconductor manufacturing sectors. Meanwhile, TFB Capital will focus on enhancing the integration of AI and cybersecurity in financial services. Specific applications in the financial industry include AI-based customer service, intelligent automation and fraud prevention.

Mr. PC Chen, CEO of NEXUS CVC, commented that cloud services are an important platform for AI applications and cybersecurity. TFB Capital said that this cooperation will combine CloudMile's AI strengths with Fubon's financial applications, aiming to promote the application of generative AI, ESG strategies and improve customer experience.

CloudMile and 3 strategic pillars

CloudMile will continue to invest in AI R&D, based on three main strategic pillars. The first pillar is MileAI, providing customized AI Agent applications for industries such as high-tech, finance, retail and education. The second pillar is MSSP (Managed Security Service Provider), focusing on developing security-oriented AI to minimize risks for businesses.

The third pillar is LumiTure.ai – CloudMile’s self-developed FinOps platform – which uses AI to optimize multi-cloud, finance and resource utilization. The platform has already been deployed in the finance, technology, healthcare and education sectors in Southeast Asia. CloudMile plans to scale up the adoption of LumiTure.ai to help businesses optimize cloud costs and operational efficiency.

Growth in Southeast Asia

Over the past two years, CloudMile has doubled its annual revenue in Singapore, Malaysia, Indonesia and the Philippines. CloudMile’s commitment to the region is demonstrated by maintaining two headquarters in Singapore and Taiwan. CloudMile recently launched an AI Center of Excellence in Malaysia and maintains local R&D centers.

This growth is supported by partnerships with government and industry organizations, including Singapore’s Economic Development Board (EDB) and Malaysia’s Cradle. CloudMile’s local teams of engineers and consultants provide on-site support in local languages. Spencer Liu, Founder and Chairman of CloudMile Group, said the company will continue to advance AI Agent-based solutions to meet market needs in Southeast Asia.