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propseller series A round
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Kindrik Partners is happy to have advised property technology company Propseller on its US$12 million series A round led by Vertex Ventures Southeast Asia and India.
Other participants in the round include existing investors Hustle Fund, Iterative, and Rapzo Capital, alongside new investors Partech, ICCP SBI, Vulpes Ventures and Redbadge Pacific. The fundraise also attracted investment from the co-founders of several prominent proptech companies, namely PropertyGuru’s Jani Rautiainen, Marta Higuera of OpenAgent, Steffen Wicker of Homeday and Flyhomes’ Tushar Garg.
Founded in 2018, Propseller has developed an end-to-end real estate transaction platform that has made transactions more efficient and data-driven for both buyers and sellers. Notably, the platform is able to tell users the likelihood of a successful closing at each step of the process.
Propseller plans to use its Series A funding to scale its business model, expand its offerings and enter overseas markets. To achieve this, it plans to significantly expand its current team of 50 employees by hiring 200 more people.
Partner Chris Wilson says:
“Buying a home is often the largest financial decision in a person’s life, and Propseller is revolutionising the way people buy and sell their homes by building a platform that prioritises efficiency and transparency. The company has modernised the traditional real estate agency and we look forward to seeing them bring these solutions to new markets.”
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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.
