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kindrik partners advises right-hand cybersecurity on US$1 million seed round
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Our Southeast Asia team have recently advised Singapore-based cybersecurity startup Right-Hand Cybersecurity on its US$1 million seed round. The company provides a SaaS solution that helps companies monitor, measure, and mitigate the cybersecurity risk of their employees. The round was led by local early-stage VC fund Atlas Ventures, with Singapore Government backed SGInnovate and venture builder Entrepreneur First also participating in the round.
Right-Hand’s CEO, Theo Nasser, says, ‘We greatly appreciate Kindrik Partners’ responsiveness and diligence to help us close our seed round. Fundraising is a time consuming, yet integral, process for founders, so having strong legal partners like Kindrik Partners to ease that process adds a lot of value.’
The company intends to use the funding for product development and to expand its engineering, research, and data science teams.
Right-Hand is another great example of the momentum in this space and of the increasing interest from investors and founders in Singapore as Singapore builds its profile as an emerging cybersecurity hub.
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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.
