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antworks completes US$15m series A round with softbank
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Our Southeast Asian team is pumped after helping Singapore based artificial intelligence company Antworks complete its series A round in late July.
Antworks raised US$15m from the investment arm of Softbank, the Tokyo listed telecommunications, technology, and investment giant. The Japanese multinational has invested into several major players in the region, including Grab.
This deal follows close on the heels of the Bambu series A round, led by US investment firm Franklin Templeton. It is great to see Southeast Asia attracting more and more attention from large overseas investors.
Antworks intends to use the series A funds for R&D, marketing, and sales, as it expands into new markets and builds up its technology product portfolio. The company and Softbank have also announced a commercial partnership and will work together to maximise the enterprise AI opportunities across Southeast Asia.
We were delighted to hear that the co-founder Asheesh Mehra originally contacted us after a google search for information on term sheets and series A deals that led to the Kindrik Partners website, which was full of relevant material.
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Kindrik Partners advised VC firm Illuminate Financial on its investment in Singapore-based AI-driven data processing and automation company bluesheets. Illuminate led the US$6.5 million series A round. Other returning investors included Insignia Ventures Partners, Antler Elevate, and 1982 Ventures.
Illuminate invests in B2B fintech and enterprise software companies that build solutions for the financial services industry. Backed by global financial institutions such as Citi, JP Morgan, Barclays, Jefferies, Singapore Exchange Group, and BNY Mellon, Illuminate uses its extensive network and industry knowledge to help their portfolio companies achieve their full potential in addition to providing capital.
bluesheets offers AI-driven data processing and workflow automation software that helps businesses digitise and automate their bookkeeping processes. It plans to use the funds to further enhance its AI capabilities and accelerate growth in key APAC markets, including Singapore, Thailand, ANZ, and Hong Kong.
We’re happy to have advised Singapore-based synthetic data company Betterdata on an oversubscribed seed round of $1.65 million, led by Investible.
The company was founded in 2021 by Dr. Uzair Javaid and Kevin Yee and allows clients to share data faster and more securely in compliance with stricter data privacy regulations being introduced around the world. Betterdata uses generative AI to convert real data into synthetic data that looks, feels, and behaves like real datasets. These synthetic datasets retain the structure and correlations of the original data while eliminating the privacy and security concerns that come with holding and sharing sensitive data.
Betterdata plans to use the funding to publicly launch its product, hire more staff as the company scales, and improve its technology stack, with the aim of providing support for single-table, multi-table, and time-series datasets. The company also plans to expand across the Asia-Pacific region over the next two years.
