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reflections on tech in asia (event recap)
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A few weeks back we attended Tech in Asia in Jakarta, one of Southeast Asia’s premiere technology and startup events. It was exciting to chat with hundreds of startups, founders, investors, and venture builders over two jam-packed days.
It was the first year that Tech in Asia had rolled all three of its conferences into one flagship event in Jakarta. Having seen it now first hand, the momentum in the Indonesian scene is undeniable. Speakers, from founders to investors, acknowledged that Indonesia was a place of tremendous activity and huge potential.
The event had an impressive line up of speakers and local tech stars such as Tokopedia, Traveloka, and Go-Jek, and VCs like East Ventures, Golden Gate Ventures, and Sequoia.
Reports showed over 5,000 visitors attended, and we saw a steady stream of interest by our booth. It’s clear from the conversations we had that there is a real need for a tech startup focused law firm. Many legal tech platforms have launched to address the legal issues that Indonesians are facing. However, from our conversations there remains a gap in the market for a less traditional law firm who understands the fast-moving startup context.
It was refreshing to see so much local talent and exciting to showcase our resources for the startup community. If the latest Temasek & Google e-Conomy SEA 2019 report is anything to go by, it’s only the beginning. We can’t wait to see what opportunities and success stories the tech scene in Indonesia will serve up next.
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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.
