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kindrik partners advises medtech startup eko.ai on sequoia-led series A
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Our Southeast Asia team have advised Singapore medtech company eko.ai on its US$4million series A financing. The deal was led by Sequoia with SGInnovate, Partech Ventures and Startup Health participating in the funding round.
eko.ai’s tools improve cardiovascular research and the performance of echocardiography clinical trials. Its machine learning platform automates the process of measuring and interpreting echocardiograms (ultrasound images of the heart).
With the funding, eko.ai intends to grow its team and push operations in the US and Europe with the ultimate goal of democratising echocardiography globally.
Co -founder James Hare commented. “There’s always challenges when closing a funding round with several investors, particularly in the medical space. The Kindrik Partners team have great venture capital experience and helped us understand what VC terms were market standard for the region”.
Healthtech businesses in Southeast Asia continue to attract investors. Last year Kindrik Partners advised Indonesian healthcare Alodokter on its US$33million series C financing and Lifetrack Medical Systems on its series A led by UOB Ventures Management and Phillips.
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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.
