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kindrik partners advises filipino startup edamama on US$5m pre-series A round
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We’re pleased to have advised Edamama, an e-commerce platform targeted at mothers in the Philippines, on its recent US$5 million pre-series A round. Gentree Fund, Robinsons Retail Holdings, Kickstart Ventures, Foxmont Capital partners, and other angel investors participated in the round.
Edamama was launched in mid 2020 by Nishant and Bela Gupta D’Souza and grew substantially during the pandemic as customer purchasing shifted from brick-and-mortar stores to online. In addition to purchasing items online, customers can create personalised wish lists with Edamama’s Gift Registry that can be shared with friends and family. The startup also offers Explore, a platform where parents can book child-related classes and activities, and Subscribe & Save, the Philippines’ first online diaper subscription service.
The startup intends to use the funds raised to develop new platform features, enhance its range of trusted products and services, and expand its warehouse and delivery capabilities.
Co-Founder Nishant D’Souza commented, “We’re very proud to bring on board these eminent strategic investors being such an early stage venture – the recognition of our business momentum in an unprecedented operating environment is a real achievement for our team.”
Lee Bagshaw says of the deal, “The last year or so has for obvious reasons seen a huge rise in e-commerce activity, and it’s been great to see Edamama leverage this – we look forward to seeing what they do next.”
Read our other recent deal announcements here.
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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.
