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kindrik partners advises hydroleap on US$1.9m funding round
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We’re excited to have advised Singapore-based wastewater treatment startup Hydroleap on its US$1.9 million funding round led by Wavemaker Partners. Other investors in the round included Enterprise Singapore’s Seeds Capital and 500 Durians (500 Startups’ Southeast Asia fund).
Hydroleap provides a cost-effective, environmentally-friendly and automated wastewater treatment solution, by replacing expensive chemical treatments with a smart electrical treatment. The company claims its solutions are three times cheaper and two times smaller than current technologies.
Hydroleap CEO and Founder Dr Mohammad Sherafatmand said, as an early stage startup, we needed an active and responsive lawyer to go through drafts, find the best bargain and cover many angles of our fundraising round. I am glad that we went through this with Kindrik Partners (specifically Sarah Yen) due to their quality service and reasonable pricing.
Hydroleap intends to use the new funds to expand into verticals in the mining, palm oil, and semiconductor industries.
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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.
