BLOG
kindrik partners advises on SunGreenH2 seed funding round
share:
Kindrik Partners is delighted to have advised cleantech startup SunGreenH2 on its US$2 million seed funding round. The round was led by SGInnovate. Vinci BV, Entrepreneur First, SOSV’s HAX, she1K, and Apsara Investments also participated.
Founded in 2020, SunGreenH2 develops nanotechnology with the potential to transform hydrogen production. The company manufactures core components for electrolysers, which create hydrogen by splitting water molecules into their atom parts. SunGreenH2 has revolutionised this process by creating components that increase the production and decrease the energy consumption of electrolysers without relying on platinum and other expensive elements.
The funding will be used to set up their first manufacturing facility in Melbourne to meet the demands of their early partners. The company plans to partner with system integrators to produce whole electrolysis stacks and eventually with larger companies to produce more end-to-end solutions.
Partner Chris Wilson says:
“SunGreenH2 has the potential to be a pioneer in the production of green hydrogen production. We are pleased to be able to help the company secure this funding and look forward to seeing them contribute to a low-carbon future.”
explore our other blog posts
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.
