Singapore-based AI startup Staple, specializing in document processing solutions, has raised $4 million in a pre-Series A funding round led by Wavemaker Partners.
With the new funds, Staple plans to expand into new markets, particularly in linguistically diverse regions like Southeast Asia, enhance its AI technology, and broaden its document processing offerings.
The startup, which was founded in 2018, supports data in more than 200 languages and various document types and bridges the gap between physical documents and digital workflows, serves customers in over 56 countries.
Some words from those involved in the funding round:
“Our aim is to not only expand our market presence but also to continue innovating, making our solutions even more accessible and efficient for businesses worldwide. We are focused on breaking down language barriers and simplifying complex document processing tasks.”
— Ben Stein, Chief executive and co-founder of Staple
“Unfortunately, manual processing is prone to errors and on average, it costs about US$50 to correct each error, potentially translating to millions in unnecessary expenses each year.”
— Paul Santos, Managing partner at Wavemaker Partners
Featured image: Credit: Staple
