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kindrik partners advises guardrails on S$1m seed funding round
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Our Southeast Asia team have advised Singapore based Guardrails on its recently completed S$1 million seed funding round. The company allows its customers to easily access open-source security tools for use within their GitHub and GitLab workflows. Modern development teams are empowered to find, fix, and prevent security vulnerabilities in their web and mobile applications.
GuardRails are a graduate of cyber security accelerator CyLon, which put them in a favourable position to meet and raise funds from institutional investors. The round was led by Singapore VC Cocoon Capital. Guardrails founder Stefan Streichsbier said, “The chemistry was right from the first meeting and I was impressed with their track record. We are very happy to be working together on the future of GuardRails.”
The funding is intended to promote the company’s technology build-out, marketing, sales, and other working capital requirements. We expect Southeast Asia to follow global trends and for cyber security to become an area of focus for both entrepreneurs and investors in the near future.
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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.
