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Kindrik Partners advises SwipeRx on US$27 million series B funding
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Kindrik Partners is pleased to have advised digital B2B pharmacy platform SwipeRx on its US$27 million series B funding round led by MDI Ventures. Other investors in the round included the Bill & Melinda Gates Foundation, Johnson & Johnson Impact Ventures and Susquehanna International Group (SIG).
SwipeRx, formerly known as mClinica, was founded with the goal of providing tech-based solutions to issues facing pharmacies in Southeast Asia. SwipeRx pioneered the community-driven commerce model that unites the fragmented pharmacy channel on a single platform enabling them to access all the information, education and medicines they need. From online education, to centralised purchasing and logistics, to financing, SwipeRx caters to the critical needs of pharmacies.
Operating across Indonesia, the Philippines, Vietnam, Malaysia, Thailand and Cambodia, SwipeRx’s intends to further scale its growing network of pharmacies, expand specialised healthcare logistics to fulfil B2B commerce, accelerate its tech innovation and recruit talent
Partner Lee Bagshaw says:
“Pharmaceutical networks in Southeast Asia have long struggled with fragmentation, but SwipeRx’s platform is innovating how the industry operates via an innovative community-driven commerce model. We’re delighted to have advised the company on their latest financing and look forward to seeing how their innovation continues to transform the delivery of healthcare and pharmaceutical services.”
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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.
