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MYHERO (TRADEHERO) RAISES $10M SERIES A

http://techcrunch.com/2013/09/26/tradehero-series-a/

An app that lets people play the stock market without the risk of losing any real money has turned its virtual cash game into a pile of actual Benjamins, by closing out a $10 million funding round — one of the largest Series A rounds for a consumer startup in the region, it claims.

The app in question, TradeHero, is made by a Singapore-based developer MyHero. Investors in the round are Kleiner Perkins Caufield Byers China fund (KPCB China) and IPV Capital.

 

TechCrunch: http://techcrunch.com/2013/09/26/tradehero-series-a/

E27: http://e27.co/2013/09/27/tradehero-raises-us10m-from-kpcb-china-and-ipv-capital/

ZDNet: http://www.zdnet.com/sg/singapore-mobile-app-startup-gets-10m-funding-7000021203/

TechInAsia: http://www.techinasia.com/tradehero-raises-10-million-china/

Straits Times (Online): http://www.straitstimes.com/premium/money/story/tradehero-creator-raises-125m-20130927 (Subscription only, text appended)Bookmark and Share

W-LOCATE RAISES $2M SERIES A

http://www.techinasia.com/singapore-wlocate-gets-series-a-funding/

Earlier this year we looked into Singapore startup W-Locate, which makes location-based service (LBS) tools for businesses. Today, W-Locate reveals that it has wrapped up series A funding worth S$2 million, which is $1.6 million.

The funds comes from investment bank RHB OSK via its Millennium Fund.

As with W-Locate’s $470,000 from TNF Ventures in May, the funding will be used to expand the startup’s two core products, FIND and XimLoc. FIND can help manage a company’s vehicle fleet, while XimLoc is for tracking workers, and claims to be much better than GPS.

Last month, XimLoc was launched in Thailand and adopted by Thai telco AIS.

 

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TNF Ventures Incubates W-Locate

W-Locate

W-Locate, developers of FIND & XimLoc, secures S$589K funding to advance roll-out plans

 

5 May, 2013 (SINGAPORE) W-Locate Pte Ltd (“W-Locate”), a Singapore-based location technology company which delivers innovative tracking solutions, have secured S$589k in pre-Series A funding led by TNF Ventures (TNF) through the Technology Incubation Scheme under the Singapore’s National Research Foundation (Prime Minister’s Office). The funds will play an important role in W-Locate’s roll-out and adoption plans for its core products.

 

W-Locate is the innovator behind the well-acclaimed products, FIND and XimLoc, which are productivity tools for vehicle fleet and workforce management respectively.

 

FIND combines tracking and telematics technologies with business analytics to empower fleet and assets owners to remotely track, manage and protect their assets. Most importantly, they can leverage on the business intelligence features in FIND to maximize the productivity of their fleet. FIND is currently adopted by regional large fleet owners from different industries in the ASEAN region. (Holcim (S) Pte Ltd, Soon Poh Telecoms, Samwoh Corp, etc)

 

First in the world, XimLoc offers a SIM-based cell positioning system which can accurately track any cellular devices in both indoor and outdoor locations regardless of OS. XimLoc is a proprietary technology, which uses information from the cellular network (2G/2.5G/3G/3.5G/4G) to compute the user’s position. XimLoc uses a residential java applet on the SIM card to sniff the network information and send them to XimLoc server, where the location engine computes the most probable location based its patent-pending algorithm. XimLoc has been rigorously tested and has been proven to be a practical solution that addresses the limitation of GPS i.e. the inability to track indoor and heavy power consumption. XimLoc comes with a full-feature web-based dashboard.

 

XimLoc is currently offered via major SIM card manufacturers (Morpho Cards (S) Pte Ltd & Bluefish Technologies Asia Pte Ltd) to their Global Customers. XimLoc has already secured 2 major telecommunications companies (StarHub Ltd & a major telco in Thailand) in Southeast Asia to provide location-based services. W-Locate is also currently in concluding talks with other telcos in Asia, Africa and the Middle East.

 

“This investment is a testimony to our efforts thus far and will help W-Locate fund both FIND and XimLoc regional expansion plan. We are also excited by the value that the TNF team is bringing to the Company. They are a highly experienced and well respected group of professionals and we believe their support will bring W-Locate to a new level of growth,” said Stevie Ooi, Chief Locationist of W-Locate.

 

“W-locate is a very unique tracking and telematics company. They use both GPS technology and their proprietary SIM card-based, XimLoc, to deliver an all-encompassing solution to address their customers’ needs.  We are starting to see where M2M, Big Data and Cloud Computing are coming together to deliver some impressive benefits across a number of industries. Their solution offering has the potential to elevate into wider and more innovative uses.  With their sound business model and good partnership with major telecom players, we expect W-Locate to be the leading player in Asia’s tracking and telematics market in 2-3 years’ time” said Shirley Wong, Managing Director of TNF Ventures Pte Ltd.Bookmark and Share

TNF Ventures Incubates Express In Music

SINGAPORE – 3 May 2013 –

Express In Music, a platform connecting thousands of musicians with clients seeking personalized music, has closed around S$600K seed funding round led by TNF Ventures (TNF) through the Technology Incubation Scheme under the Singapore’s National Research Foundation (NRF) within the Prime Minister’s Office.Express In Music powers Express Melody, an on-line digital music service providing environmental music to commercial areas such as retail shops, shopping malls, restaurants and cafes, hotels, and office buildings.

Express MelodyMore details to follow.Bookmark and Share

TNF Ventures Incubates Ohanae

TNF Ventures completes invesment into Ohanae

Singapore (April 5th, 2013) ─ TNF Ventures completes an undisclosed six-figure sum investment into Ohanae, Inc., a company that is offering enterprises and professionals a way to safeguard data on the cloud.

 

Maintain Control while Providing a Simple End-User Experience

In a mobile-centric world, business has a new challenge on its hands: ensuring that users can access and collaborate on content anytime, anywhere and on any device.  Whether the enterprise is buying these mobile devices for staff, or individuals are bringing their own devices to use at work, employees want the same content sharing and collaboration experiences with these platforms as with their corporate-issued laptops and desktops.  Content sharing has been a tough nut for businesses to crack as business loses control over content that may well be subject to regulatory or enterprise privacy, security, compliance or other requirements.

“At Ohanae, we believe the ultimately security and compliance boils down to being able to protect the data and logins.  Trying to control the device, in a lot of cases, is neither necessary nor sufficient.  At the end of the day, if you have the ability to protect the data and make sure that your data is not leaking off, you do not have to touch the rest of the device.” said Greg Hauw, founder and CEO.  The best security for cloud storage is to encrypt the data and not give your service providers the keys to unencrypt it.  Sensitive data on endpoint devices must not be subject to data breaches and login passwords cannot be guessed, phished, or stolen.

The power and sophistication of Ohanae® Connect is delivered through a powerful integrated security solution that combines sophisticated technology with elegant simplicity to create and protect unique passwords and encryption keys.  Information at the public cloud storage providers is no longer insecure.  All files in the cloud sync folders are encrypted before uploading to the respective cloud storage services.  Files for collaboration and sharing are transparently encrypted with unique encryption keys, while maintaining the familiar access control user interface provided by cloud storage providers.

 

About Ohanae

Ohanae empowers users to create, share, and keep all their files in the public cloud storage and access from multiple devices securely without compromise, making cloud storage and online transactions safer, faster, and more private.Bookmark and Share

TNF Ventures Incubates TribeHired

SINGAPORE – 25 March 2013 – Tribehired.com, a social recruitment website, today announced that it had closed around S$696K (US$560K) seed funding round led by TNF Ventures (TNF) through the Technology Incubation Scheme under the Singapore’s National Research Foundation (NRF) within the Prime Minister’s Office. The round was supported by Singapore angel investors Ben Ball and Ben Chew.

The investment will be used to grow Tribehired’s team to expand both the number of job candidates on the system and the range of businesses using the service.

Devan Singaram, Founder of Tribehired, said: “Today’s investment is crucial to the next stage of Tribehired’s development and not just because it brings us cash to fund our growth. In TNF we have access to a team of veteran entrepreneurs who have proved they know how to manage fast growth. Meanwhile Ben Chew brings specialist domain insight around recruitment. It’s great to have that kind of support behind us as we scale up rapidly.”

Tribehired has the potential to grow fast because it incentivises ordinary people to recommend job opportunities at companies where their friends would fit. A window into social networks gives employers a better choice of talent, simultaneously reducing hiring costs and time-to-hire. Tribehired’s automatic recommendations are supplemented by individual candidate interviews to assure a match.

Tribehired is currently in intensive beta testing with several thousand users in Malaysia providing feedback around real job opportunities. Early adopters are typically ‘Generation Y’ graduates but they are spread across a range of different industries and job functions. The notion of social network friends recommending each other for jobs is still new and testing has already revealed fascinating insights into customer needs and behaviours. A full international launch will follow shortly as the team reflects its learning in the service online.

Shirley Wong, Managing Partner at TNF Ventures, said: “Recruitment is an evergreen industry but it is also ripe for disruption. We saw that Tribehired’s team has the passion and drive to bring about that disruption. There are others in this space but Tribehired’s team convinced us that they really understand the psychology of social networks and job seekers better than anyone else.”

Clients using Tribehired already include Zalora, Lazada, Flocations and Brandtology. The service currently covers Singapore and Malaysia and focuses on innovative businesses that offer job seekers opportunities in businesses with a flat hierarchy and positive social impact.

Previous to today’s announcement, Tribehired received pre-seed funding from Cradle Fund Sdn Bhd, a government agency under the Ministry of Finance, Malaysia. Tribehired was also a participant in the JFDI-Innov8 2012 accelerator program operated by JFDI.Asia.

Hugh Mason, Co-founder and CEO at JFDI.Asia, said: “This is a great deal for those directly involved but it also shows the benefits when Malaysia and Singapore collaborate to support innovative start-ups. Tribehired’s talent was first spotted by a Malaysian government fund and, with support from both private and public investors in Singapore, the business has been able to exploit opportunities in both markets to grow much faster than it would have done in either alone. Now, Tribehired is helping to fill jobs and create wealth on both ends of the causeway.”Bookmark and Share

TNF Ventures Incubates Mobile Media Creations

5 February, 2013 (SINGAPORE) Mobile applications developers Mobile Media Creations (M2C) have secured S$588k in pre-Series A funding for a revolutionary m-commerce and mobile apps platform called MOGi.  Led by TNF Ventures (TNF) through the Technology Incubation Scheme under the Singapore’s National Research Foundation, Prime Minister’s Office (NRF), the funds will play a important role in M2C’s roll-out and adoption plans for MOGi.  The wallet app is a first in Singapore for both iPhone and Android phones, allowing users to save through gift card promotions & discount vouchers, earn rewards, and securely pay with their mobile device at over 220 dining, retail and health & beauty outlets across Singapore.  The app also provides an interesting innovation allowing for social gifting.

Mr. Rashad Budeiri, the Chief Executive Officer of M2C said, “Mobile Wallets are on the verge of becoming mainstream in 2013.  All trends point to a surge in the adoption and use of smart phones in commerce, specifically for marketing and payments.  In fact, according to PayPal, m-commerce transactions already account for 24% of all e-commerce transactions in 20121 and will only grow further as sales of smart phones continue to skyrocket.”

He added, “We are extremely privileged to be in a country that supports technological innovation on such a comprehensive scale and are grateful with the support provided by NRF and TNF. This funding is an important component in our plans to make MOGi the most popular mobile commerce and wallet app in Singapore for both the merchants and the consumers.”

Since the app was launched last October, several thousands of active users have signed up to enjoy numerous promotions, send gifts to their friends and use their mobile devices to pay in participating MOGi merchant outlets.  The platform has successfully helped participating merchants with their transaction volume, apparent with several merchants who have seen their sales increase by several thousands of dollars per month.

In addition, MOGi has helped over 160 small and medium businesses to:

  • Enhance their brand recognition and presence in the digital marketing and mobile space
  • Build and grow a loyal base of repeat customers
  • Obtain marketing analytics in order to develop more intelligent and focused marketing campaigns and promotions
  • Leverage the power of GPS location-based services for real-time targeted promotions
  • Improve their customers’ shopping experience through mobile payments
  • Utilize mobile application and social media to drive in-store traffic and boost sales

Shirley Wong, the Managing Director at TNF said, “Our focus is on providing holistic support to innovative and ambitious start-ups.  What Mobile Media Creations have developed and presented to us is a solid proposition for both the consumers and the merchants.  We are excited to be involved with companies with strong innovations and look forward to MOGi and M2C’s continued success.”

The free MOGi app can be downloaded via the iPhone App Store or the Google Play Store. For more information, please visit: www.mogicard.comBookmark and Share

TNF Ventures Incubates Quantine

Quantine Secures SGD 588k Pre-Series Funding
Funding to Further capabilities of Next-5 Human Resource Screening Platform

Next-5.com is a novel platform that allows companies and job/internship seekers to connect and engage without borders or time conflicts. Leveraging on the pervasiveness of webcams, they give jobseekers the ultimate marketing tool.

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TNF Ventures incubates Flocations

Flocations.com Secures SGD 700,000 Pre-Series Funding Led by TNF Ventures
Funding to Integrate Hotel and Flights Search by Price

SINGAPORE – December 11, 2012 – “Where can I go for $200 this weekend?” Flocations Pte. Ltd., a popular online travel discovery tool, helping travelers answer that question, closed a pre-series round of funding, raising SGD 700,000 led by TNF Ventures. The investment is supported with additional capital from SingTel Innov8 and Singapore-based business angel Ben T Ball.

Flocations.com finds getaways and short-haul breaks for travelers in Southeast Asia, in a fun and interactive way. Flocations.com presents users with an interactive map comparing travel options based on price rather than the traditional date and destination. The funding allows Flocations.com to offer a new set of innovative features, integrating both hotel and flights into their search by price methodology.

Tudor Coman, Co-founder at Flocations.com, said: “This is an extremely exciting step for Flocations as this funding allows us to launch our new feature set that combine both hotels and flights into one price, in addition to the continuation and finance of operations across Asia Pacific. This means users can search for a whole vacation just by putting in their price and also lets them discover places they never even thought of within seconds!”

Shirley Wong, Managing Partner at TNF Ventures, said: “Flocations’ targeted market of short haul travellers and their search-by-price methodology is what’s powerful. It changes the paradigm of traditional travel search and tries to disrupt the travel market by targeting a niche market.”

Flocations graduated among the first batch of 11 start-up companies from the JFDI-Innov8 2012 Bootcamp earlier this year. It was one of two companies to be earmarked for investment by SingTel Innov8 immediately following the bootcamp demo day.

“We are excited about the innovation Flocations will bring to the travel space,” said Edgar Hardless, CEO, SingTel Innov8. “Everyone loves a bargain and Flocations changes the way travellers discover vacation spots, enabling them to learn about places they never considered within a budget.”

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TNF Ventures incubates TradeHero

TradeHero (www.tradehero.mobi) is a stock market simulation mobile app that draws real-time data from 14 stock exchanges, 45,000 global securities and 1,300 currency pairs. Users are credited with a $100,000 starting portfolio and can make trades to create their own virtual portfolio. The app’s Leaderboards identify the most successful traders (known as ‘Heroes’) by their returns, and they are ranked by Exchange, Sector, Monthly or Quarterly returns, as well as overall returns. Followers can subscribe, for a small monthly fee, to follow and receive trade feeds from their chosen Heroes via push notifications on their mobile device. These push notifications detail each Buy and Sell action of the Hero, allowing followers to receive expert trading tips and personal insight into successful investment strategies. TradeHero will share subscription revenue from followers equally with Heroes, thus allowing Heroes to monetize their trading expertise.

TradeHero CTO Dominic Morris suggests that the innovation ‘helps to galvanise a global community of financial traders’, enabling the financial markets to be more transparent and interactive. As the world’s first truly social investment network, the TradeHero community aims to break down the barriers to participating in financial markets. Meanwhile, skilled traders can gain a large following and earn extra income quickly. In time, Followers can challenge for the top positions on the Leaderboard.

 

The innovation had caught the eyes of TNF Ventures. TradeHero snared the first investment dollars from TNF Ventures since its inception in May earlier this year.

 

“Trade Hero provides a real trading experience which presents an incredible opportunity for anyone who wants to put their trading skills to test without burning real cash and yet receive real cash when others idolize you. Dinesh and Dominic are game changers and innovative in creating new experiences for TradeHero users and we are excited to be the incubators of this venture.”, said Ms Shirley Wong, Managing Partner of TNF Ventures.

 

TradeHero was founded in Singapore in early 2012 by CEO Dinesh Bhatia, an experienced local start-up entrepreneur, and CTO Dominic Morris, former head of e-commerce quality at Standard Chartered. Together they envisaged an app that would transform the world into a virtual trading floor.Bookmark and Share