As Singapore advances AI nationwide, Agnes AI raises tens of millions in funding and reaches an ARR of nearly $20 million

The Singapore AI Platform strengthens its position as a model company supporting multiple AI applications

Singapore, March 20, 2026 (GLOBE NEWSWIRE) — As Singapore accelerates its national AI strategy – including plans announced by Prime Minister Lawrence Wong to establish a National AI Council and expand the country’s AI ecosystem – a new generation of AI companies is emerging alongside this push.

One of them is Agnes AI, a Singapore-based model company that runs multiple AI applications and just surpassed tens of millions of dollars in annual recurring revenue (ARR). The company is also working towards a possible listing on the Singapore Exchange (SGX) by the end of 2026 as it continues to build out its global AI platform. The milestone reflects both the company’s rapid growth and a broader shift in the way AI platforms are built and deployed around the world.

“Our models provide about 90% of the best-in-class AI capabilities at about 10% of the cost,” said Bruce…