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kindrik partners advises privacy platform borneo on US$15.5m series A round
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We’re pleased to have advised Borneo, a Singapore-based data security platform, on their recent US$15.5m Series A round. The round was led by Vulcan Capital and existing investor Wavemaker Partners. Other participants in the round include Prosus Ventures and Lytical Ventures.
Borneo provides a suite of tools to identify sensitive and high-risk personal information through machine learning and APIs. These solutions integrate with existing tools and workflows and are targeted at technology firms that want to strengthen their privacy compliance.
The company was founded in 2020 by former Facebook and Uber exec Prithvi Rai. His elite team has tackled and solved privacy challenges at the likes of Facebook, Dropbox, Uber, and Yahoo!. The startup intends to use the funds to invest in its platform and to meet its rapidly growing customer demand.
Prithvi Rai, CEO & Founder of Borneo says, “Borneo is fast becoming the guardrails for the new data economy. We can prevent data leaks and privacy violations that can result in multi-million dollar fines and erode end-user trust.”
Chris Wilson, Partner at Kindrik Partners says, “It is always exciting to working with a accomplished founder like Prithvi, especially in an area like personal privacy which is of such critical importance to modern businesses.”
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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.
