Temasek-backed Reefknot Investments co-leads UK startup Previse’s US$11M funding round
Previse, an Artificial Intelligence- and data science-powered fintech platform in the UK, has announced a US$11 million fundraise, led by Reefknot Investments (a JV between Temasek and Europe’s Kuehne + Nagel ) and Mastercard.
Existing investors Bessemer Venture Partners, Hambro Perks, and Augmentum Fintech, also joined the round.
Previse’s current funding round will support its growth, as the business rolls out its instant payment technology, InstantPay, to more large corporate buyers all over the world.
Reefknot specialises in investment in and support to transformative logistics and supply chain technology startups globally.
Previse’s AI analyses the data of the corporate buyer to detect the very few invoices that need manual intervention, so that the rest are paid instantly. As a result, the traditional methods that often take months no longer damage the SME suppliers’ cash flow and help them expand opportunities for investment and growth.
Previse is part of Mastercard’s Start Path programme, and Mastercard has used the company’s InstantPay with a select group of its own suppliers as part of an ongoing effort to make B2B commerce more efficient and sustainable.
Agrome IQ kicks off Brunei’s farmers-dedicated online marketplace
Agrome IQ, a mobile-based farming management platform, has launched its first online marketplace for farmers in Brunei.
Agrome IQ seeks to help farmers better market their products during the COVID-19 outbreak with plans to onboard 1,500 local farmers in 12 months.
Also Read: Bruneian agritech startup secures pre-Series A funding from Cerana Capital
Agrome IQ founder Vanessa Teo explained that the Agrome mobile can be used by farmers for record-keeping and to sell directly to customers. The data from purchases made will also help gauge customer demand, and will be shared with farmers to help them better plan which crops to plant in the future.
“What we’re looking to do with Agrome Market is to help optimise the supply chain for farmers who are struggling to market their produce. Right now several markets (Belait and Tutong) have closed, while other markets have lower than usual foot traffic (due to the pandemic),” she said.
According to report by Biz Brunei, Agrome IQ plans to do physical checks on the products to ensure customers receive quality items and handling logistics for the farmers, picking up and packing orders and making deliveries nationwide.
Farmers are charged a commission fee between 8 per cent and 10 per cent with waived registration fees during the COVID-19 outbreak.
India-based healthtech startup Plunes gets US$300K pre-Series A funding from undisclosed investors
Plunes Technologie, a healhtech platform based in Gurugram that focusses on aggregating doctors and healthcare service providers, has raised US$300,000 in a pre-Series A funding round from investors based in Europe and West Asia, according to an article by VC Circle.
In its seed funding round in August, Plunes raised US$120,000 from angel investors, including Samuel Kurian and Srinivas Sridharan, who are high-net-worth individual investors based in the United Arab Emirates.
Plunes’s platform helps users in making appointments and arranging online consultations with more than 1,000 doctors and 300 medical facilities on its platform. The company has also tied up with diagnostics chain Metropolis Healthcare Ltd to book tests for coronavirus, founder Chander Verma said.
Hong Kong’s AsiaPay to support fintech startups selected into Plug and Play Singapore Fintech programme
Plug and Play, a global innovation platform, and AsiaPay, a regional digital payment service and solution provider, have announced a new partnership to assist AsiaPay in working closely with innovative startups through Plug and Play’s Singapore Fintech programme.
The primary focus will be startups with innovative solutions to enhance the quality of the financial services and e-commerce industries.
Through the partnership in Singapore, AsiaPay seeks to specifically pilot innovation projects throughout their Southeast Asia businesses by joining Plug and Play for their fourth batch of the fintech accelerator program, which together with their insurtech program is currently accelerating 23 startups from across the world in a three-month program that started last week.
Also Read: New developments in fintech are hitting Southeast Asia in waves
Joseph Chan, CEO of AsiaPay, has announced the company’s pilot venture program in late 2019 that aims to incubate startups and accelerate them regionally.
AsiaPay is a digital payment gateway company, currently operating in over 15 countries in APAC and Europe.
Plug and Play currently runs five accelerator programmes focussed on insurtech, fintech, travel, sustainability, with future plans to launch a regional health platform.
Singapore-based construction tech startup Novade closes Series B funding led by SIG, Vulcan Capital
Singapore’s construction tech startup Novade has closed its Series B funding, led by SIG and Vulcan Capital. Joining the round are existing backer Wavemaker Partners and Enterprise Singapore.
According to The Business Times, the company plans to use the funding to accelerate its global expansion and market penetration in Europe, China, and Japan, as well as to increase investments in its technology and artificial intelligence capabilities.
SIG is a global quantitative trading and investment firm headquartered in Pennsylvania in the US. Vulcan Capital is the US-based investment house of late Microsoft Corp co-founder Paul Allen.
Founded in 2014, Singapore-headquartered Novade’s service focusses on smart field management software for the building and construction industry. It digitises and automates critical site processes including quality controls, safety inspections, and equipment maintenance.
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Image Credit: Reefknot
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