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kindrik partners advise on alodokter – softbank deal
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Lee Bagshaw and Chris Wilson have advised Indonesian based health-tech startup Alodokter on its USD9million series B funding round. The round was led by SoftBank Ventures Korea and follows the company’s USD2.5m series A round that was completed in mid-2016.
Alodokter launched as a news portal covering health and well-being issues. In early 2016, the company added a mobile app that allows users to chat with general practitioners. The platform has now evolved into a healthcare platform combining the use of AI and real-time doctor/patient interactions.
We were delighted to again advise on a notable VC deal with a leading startup in Asia’s digital health space (this deal following on the heels of us assisting Prenetics’ on its USD40m financing round). Alodokter expect to use the proceeds to expand their business operations across Southeast Asia, beyond Indonesia where they already have over 14million users.
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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.
