Singapore's AI push: Agnes AI raises tens of millions and nears $20M ARR

Singapore is advancing a national AI strategy while Singapore-based Agnes AI has raised tens of millions in funding and is approaching $20 million in annual recurring revenue.

Singapore is expanding its national AI efforts, including plans announced by Prime Minister Lawrence Wong to establish a National AI Council and broaden the country's AI ecosystem. At the same time, Agnes AI, a Singapore-headquartered model company, has reported recent fundraising and growing commercial traction. The company says it builds system-level "Agentic Intelligence" infrastructure and serves large numbers of users in emerging markets. Agnes is finalizing a funding round and planning new developer-facing services. Reported details: - The Singapore government announced steps to set up a National AI Council and expand the national AI ecosystem, as reported in government statements. - Agnes AI has raised tens of millions of dollars in a recent funding round and is finalizing that round, according to the company. - The company is reported to be approaching nearly $20 million in annual recurring revenue. - Agnes says its broader ecosystem serves millions of users, with the company reporting nearly 10 million users worldwide. - The platform is described as a model-first system built around Agentic Intelligence and a Reinforcement Learning from Agentic Feedback (RLAF) framework, and it has introduced a model called Agnes-Claw that entered the PinchBench ranking. - Agnes plans to launch developer-focused API services in Q2 and is working toward a possible Singapore Exchange (SGX) listing by the end of 2026. Summary: Agnes AI's fundraising and revenue milestones coincide with Singapore's push to coordinate national AI efforts, and the company reports rapid user growth across several regions. The company plans developer APIs in Q2 and is pursuing a possible SGX listing by the end of 2026. How these developments will affect the wider regional AI landscape is undetermined at this time.