# Substance Capital

> Substance Capital is a VC fund backing Machine Learning and Artificial Intelligence. See 3 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Total investments: 3
- Last investment: Sep 2020
- Lead investor: 33%
- Last updated: Aug 2026

Substance Capital is a VC fund focused on Machine Learning and Artificial Intelligence. Substance Capital

## Round sizes

| Stage | Round size |
| --- | --- |
| Series A | $6.8M–$7M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Machine Learning | 2 | 67% |
| Artificial Intelligence | 2 | 67% |
| Travel | 1 | 33% |
| Leisure | 1 | 33% |
| Tourism | 1 | 33% |

14 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series A | 2 | 67% |
| Series B | 1 | 33% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Taiwan | 1 | 33% |
| Singapore | 1 | 33% |
| United States | 1 | 33% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| CloudMile | CloudMile, a leading AI and cloud technology company in Asia, focuses on digital transformation for its corporate clients and driving growth. Leveraging machine learning and big data analysis, CloudMile assists over 400 clients corporates with business forecasts and industrial upgrades. CloudMile has earned 120+ accreditations, with 60+ GoogleCloud professional certifications. Being the Premier Partner of Google Cloud, CloudMile is qualified for Machine Learning Specialization, Data Analytics Specialization, Cloud Migration Specialization and Infrastructure Specialization. In 2020, CloudMile becomes Taiwan's first Google Cloud Managed Service Provider (MSP) and the winner of Google Cloud Public Sector Partner of the Year in the APAC region. | $10M | Series B | Sep 30, 2020 |  |
| Umbo Computer Vision | Umbo CV is an artificial intelligence company developing cloud-first smart security cameras for enterprises. Their mission is to increase operation efficiency and to reduce the cost of ownership for businesses by bring the entire end-to-end experience from offline to online.Places where you would see their product/services range fromsmall offices, local stores, hotel franchises to large national retailers, city surveillance, school districts, warehouse, major transportation facilities and much more. | $6.8M | Series A | Oct 25, 2017 |  |
| KKday | KKday is an e-commerce travel platform that offers 10,000+ experiences around the world. It provides a wide breadth of experiences, including theme park tickets, cooking classes, multi-day tours, airport transfers, sim cards, and hidden sights off the beaten path. KKday was incorporated in 2014 and is headquartered in T'ai-pei, Taiwan. | $7M | Series A | Dec 04, 2016 |  |

3 of 3 investments shown.

## Co-investors
- [AppWorks](https://shizune.co/investors/profile/appworks-ventures) — VC Fund, 2 deals together
- [Alibaba Group](https://shizune.co/investors/profile/alibaba) — VC Fund, 1 deal together
- [Black Marble Capital Management](https://shizune.co/investors/profile/black-marble-capital-management) — VC Fund, 1 deal together
- [Cathay Venture](https://shizune.co/investors/profile/cathay-venture) — VC Fund, 1 deal together
- [CDIB Capital](https://shizune.co/investors/profile/cdib-capital) — VC Fund, 1 deal together
- [CDIB Ventures](https://shizune.co/investors/profile/cdib-ventures-2) — VC Fund, 1 deal together

## Similar investors

### Similar industry
- [FJ Labs](https://shizune.co/investors/profile/fj-labs) — VC Fund
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [Right Side Capital Management](https://shizune.co/investors/profile/right-side-capital-management) — VC Fund

### Similar stage
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [Alumni Ventures](https://shizune.co/investors/profile/alumni-ventures-group) — VC Fund
- [General Catalyst](https://shizune.co/investors/profile/general-catalyst-partners) — VC Fund

### Similar country
- [National Development Fund of Taiwan Government](https://shizune.co/investors/profile/national-development-fund-of-taiwan-government) — VC Fund
- [Darwin Venture Management](https://shizune.co/investors/profile/darwin-venture-management) — VC Fund
- [AVA Angels](https://shizune.co/investors/profile/ava-angels) — VC Fund

## Featured in investor lists
- [Travel Investors in Taiwan](https://shizune.co/investors/travel-investors-taiwan)
- [Travel VC Funds in Taiwan](https://shizune.co/investors/travel-vc-funds-taiwan)
- [Marketplace Investors in Taiwan](https://shizune.co/investors/marketplace-investors-taiwan)
- [Marketplace VC Funds in Taiwan](https://shizune.co/investors/marketplace-vc-funds-taiwan)
- [Community VC Funds in Taiwan](https://shizune.co/investors/community-vc-funds-taiwan)

## FAQ

### What does Substance Capital invest in?

Substance Capital invests primarily in Machine Learning, Artificial Intelligence and Travel startups, most often at Series A and Series B stage. Most of the 3 investments tracked by Shizune back companies in Taiwan. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Substance Capital's check size?

Substance Capital typically joins rounds of $6.8M–$7M at Series A. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Substance Capital participates in.

### When did Substance Capital last invest?

The most recent investment recorded for Substance Capital closed in Sep 2020. Shizune tracks 3 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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