kindrik partners advises deep-tech startup ackcio on $4m series A round
Our Southeast Asia team has advised Ackcio, a Singapore-based startup that builds wireless monitoring solutions for industrial monitoring, on its recent $4m series A round. The round was led by Atlas Ventures. Existing investors Wavemaker Partners, Aletra Capital Partners, and AccelerAsia Ventures, and new investors Enterprise Singapore and Seasight Holdings also participated in the round.
Founded in 2016 by Dr Nimantha Baranasuriya and Dr Mobashir Mohammad, Ackcio delivers wireless monitoring solutions to industries such as construction, infrastructure, rail, and mining. Ackcio’s technology helps contractors monitor projects remotely in real-time, increasing operational efficiency and improving worker safety.
In the past year, the company has expanded to 22 countries. The company intends to use this latest round to fund market expansion, scaling up its research and development efforts, and venturing into new industry verticals such as oil, gas, and energy.
Partner Chris Wilson says of the deal, “Ackcio has seen a tremendous amount of growth in a short amount of time, and with their latest injection of funding we look forward to seeing them continue to expand exponentially, both geographically and into new project verticals.”
Read our other recent deal announcements here.