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kindrik partners advises qualgro as lead investor on series a round into hevo
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Kindrik Partners recently advised Singapore-based venture capital firm Qualgro on its investment into data pipeline startup Hevo. Hevo raised $8 million as part of its series A funding round. Other investors included Lachy Groom, a former executive at Stripe, and existing investors Chirtae Ventures and Sequoia Capital’s accelerator, Surge.
The startup was founded in 2017 by Manish Jethani and Sourbh Agarwal. Manish Jethan says, “Our mission is to remove the technology barrier for non-technical users within companies and enable them to make smarter decisions with their data. Hevo enables companies to eliminate data silos without having to setup an engineering team to build and maintain complex integrations with multiple systems.”
Today Hevo has offices in San Francisco and Bengaluru, with customers across 20 countries. The funds will be used to accelerate Hevo’s global expansion and expand its technology, sales, and marketing teams.
Partner Chris Wilson, who advised Qualgro, says of the deal, “It was a pleasure to help Qualgro continue to support B2B SaaS startups in Southeast Asia and help those companies turn into global players.”
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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.
