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Kindrik Partners advises edamama on series A raise
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We’re pleased to have advised Philippine based e-commerce platform edamama on its US$20 million series A funding round led by Alpha JWC. Existing investors Gentree Fund, Robinson Retail Holdings, Innoven Capital, Kickstart Ventures and Foxmont Capital Partners also participated in the round.
edamama is a parenting-focused platform that offers customers a personalised shopping experience designed to simplify decision-making for parents. Following its launch in May 2020, the company has grown rapidly by providing families across the Philippines a safe and trustworthy way to digitally access an extensive range of parenting products through its proprietary technology. In addition to its innovative product offerings, edamama also provides an online gift registry and subscription services for essentials.
The company plans to use the funding to expand its operations, ramp up delivery solutions, and enhance its content and community. It also plans to open offline stores and scale its own private label portfolio.
Partner Lee Bagshaw says:
“edamama launched during the strict Covid lockdown imposed in the Philippines at a time where consumers were shifting from brick-and-mortar stores to e-commerce platforms. The business has continued to grow rapidly by establishing a reputation for providing affordable and quality products. We are delighted to have advised the company on their latest fundraise, one of the largest series A financings ever completed in the Philippines.”
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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.
