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kindrik partners advises shrimptech startup Jala on US$6m round
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We’re pleased to have advised Jala, an Indonesian aquaculture startup improving the sustainability of the shrimp farming sector, on their recent US$6 million seed round. The round was led by Althelia Sustainable Ocean Fund. Other participants in the round include the Meloy Fund, an American environmental conservation group; and Real Tech Fund, a Japanese deep-tech-focused fund.
Founded in 2015, Jala helps shrimp farmers manage their farm to increase their yield and create a sustainable farm. The proprietary hardware and software platform enables growers to monitor pond conditions, shrimp growth, and gather data for harvest prediction, disease alerts, and more. Additionally, Jala operates a marketplace to connect shrimp farmers to processing companies which allows farmers to become more competitive in the supply chain and increase transparency and product traceability. Today the platform is being used by more than 6,700 farms across Southeast Asia.
Jala intends to use the funds for expansion of the current business, developing its product roadmap, and exploring how they can contribute to sustainable certification standards for shrimp aquaculture.
Chris Wilson, partner at Kindrik Partners, says of the deal “We’re proud to have advised Jala on their recent round. Food sustainability and traceability are becoming increasingly important to today’s consumers and investors and there is a lot of room for innovation in the industry – we can’t wait to see how they grow.”
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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.
