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kindrik partners advises vietnamese B2B e-commerce platform kilo on $5m pre-series A
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We’re pleased to have advised Kilo, a Vietnam-based B2B e-commerce platform, on their recent $5 million pre-series A round. The round was led by Altos Ventures and January Capital. Other investors in the round included Goodwater Capital, Ascend Vietnam Ventures, Decisive Capital Management, Ratio Ventures and other angel investors.
Kilo connects wholesalers with micro, small and medium enterprises (MSMEs), providing more transparency and increased efficiency to the industry. The platform enables MSMEs to manage their inventory turnover and save costs. Owners can browse various suppliers and compare costs, as well as view in-stock availability for different items.
The company was founded in 2020 by Kartick Narayan, who is ex-Amazon and ex-Coupang. Today the company has thousands of MSMEs across 24 provinces in Vietnam.
The funds will allow Kilo to expand its team and focus on product development, such as adding features to its platform like financing, logistics, and self-service e-commerce store creation for MSMEs.
Chris Wilson, Partner at Kindrik Partners says, “we have seen significant interest in startups targeting MSMEs in developing countries across Southeast Asia. It is great to see technology companies like Kilo assisting these small businesses that are such a vital part of the market for consumers and the local economies.”
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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.
