Ex-Qoala execs’ AI firm Parallel Loop raises $6.6m
The company said the money will support enterprise AI adoption across Asia, Europe, and the Middle East.
Eight years after raising SGD1 million, Singapore-based Vouch Insurtech has launched Parallel Loop with US$6.6 million in seed funding. The company aims to help enterprises harness the full potential of AI by addressing a persistent gap: the lack of context. Parallel Loop's three-part offering includes AI Enablement, AI Stack, and Software Factory.
The AI Enablement team identifies high-value use cases and builds roadmaps, while the AI Stack connects clients' systems with organizational context. The Software Factory modernizes legacy systems and builds new applications using forward-deployed engineers. Founded in June 2026, Parallel Loop has 30 staff and clients across Singapore, Bengaluru, Bangkok, London, and Dubai.
Clients include Licious, Havells, and Tokio Marine Safety Insurance. The founders, Yujun Chean and Prateek Jogani, have a track record of nearly a decade working together, having co-founded FairDee, which was later acquired by Qoala in 2021. The founders' experience and the company's approach to addressing the enterprise AI deployment gap make it an intriguing player in the crowded AI market.
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