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| 8 February 2011 | Stream Media raises Series A funding |
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| 21 September 2010 |
JFDI–Innov8 2012 Bootcamp Demo Day attracts international investors, showcases innovative startups
Singapore, 4 May 2012 – Over 100 investors including MIH Internet, JAFCO Asia, iGlobe Partners, Crystal Horse Investments, WaveMaker Labs, Golden Gate Ventures and Jungle Ventures attended ‘Demo Day’, an event to showcase the results of the JFDI–Innov8 2012 Bootcamp, this morning. Demo Day marked the end of an intensive 100 day acceleration programme that has given 11 digital startup companies seed funding, intensive mentorship from international industry experts and the potential to access mobile markets across Asia.
Like several local and international investors, SingTel Innov8 (Innov8), the corporate venture arm of the SingTel Group, has opened discussions with some of the bootcamp teams about the possibility of investing. In the last week, two participants, Kark Mobile Education and ShopSpot, have already received investment offers.
The bootcamp was organised by Joyful Frog Digital Incubator (JFDI) with sponsorship from key partner, Innov8, and grants from SPRING Singapore and Singapore’s Media Development Authority. Each startup received free access to technology facilities worth over S$100,000, provided by technology vendors and S$15,000 capital from local business angels. In addition, 50 local and international mentors provided advice, as the startups raced through the 100day programme.
Mr Sindhu Prabowo, CEO of bootcamp startup Kark Mobile Education said: "The JFDI–Innov8 Bootcamp has been a really good experience. The mentors have been great, helping us refine the financial and technical aspects of our project. Our mindsets shifted when the mentors challenged us to think bigger and see our project as something that could go global. Now that is happening."
Mr Hugh Mason, CEO and CoFounder of JFDI said: “This is a great result for the startups, the JFDI–Innov8 Bootcamp and the regional startup ecosystem. For the first time, the fasttrack accelerator approach pioneered and proven successful in the US by TechStars has delivered real results in South East Asia. Just as in the US, the bootcamp has been a community effort that would not have been possible without the huge generosity of many people and organisations.”
Mr Edgar Hardless, CEO of SingTel Innov8 said: “We are delighted to be part of this pioneering programme. Working with partners such as JFDI, we hope to help create the confidence and processes to inspire and deliver innovation for consumers and businesses across the region.”
Teams participating in the JFDI–Innov8 2012 Bootcamp were selected for their technical and communications skills as well as their passion to solve problems in a particular domain. Many were first time entrepreneurs with no formal business training, but had the commitment to apply the ‘Lean Startup Methodology’ which lies at the heart of the TechStars method. Coupled with community support, this method is the 'secret sauce’ that offers the chance to create valuable companies quicker and more consistently than ever before.
Mr Meng Wong, CoFounder and Social Engineer at JDFI said “The Lean Startup method is all about finding ‘fit’: a fit between an idea and a team; problem/solution fit and product/market fit in a way that maximises the chance of success for a startup and makes investment attractive to early stage investors because they can see that a business has eliminated many risks. Our aim was to have teams focus on customer discovery, hypothesis testing, market validation, and development of a minimum viable product. Some have gone farther than others but all have used a scientific process that roots their decisions in
evidence from the real world.
The startup companies featured at today’s event were:
ShopSpot, a C2C mobile app that makes buying and selling items as easy as sending a tweet. (http://shopspotapp.com)
Kark Mobile Education, a B2C tablet game platform using collectible QR cards to make 4–12 year old children masters of a simulated world. (http://blog.kark.asia)
Tradegecko, a B2B webbased service providing supply chain management for independent brands and their retailers. (http://tradegecko.com)
Remember, a B2C mobile app is the family Time Capsule in your pocket that makes it simple to capture and relive memories on your smartphone. (http://therememberapp.com)
FamilyKo, a B2C multiplatform app that allows families separated by business to bond and grow together. (http://www.familyko.com)
Flocations, a B2C web travel service that visualizes nearby destinations on an interactive map, so leisure travellers can browse by budget and book their next getaway in minutes, not hours. (http://www.flocations.com)
Fetch Plus, a B2B web service that gives brand franchises with local businesses control and analytics as they use social media to maximise impact for all their franchisees. (http://fetchfans.com)
Trafflers, a B2C web service that makes it fun to discover and plan vacations with friends, thereby increasing the frequency and size of group travel bookings online. (http://www.trafflers.com)
Stubb, a B2B document sharing service for the masses that connects your printer to the cloud. Anything you can print, you can publish online! (http://stubb.to)
Wildby, a fun talking encyclopedia on your iPhone that 5 to 12 year olds can enjoy without needing any literacy skills. (http://www.wildby.com)
TribeHired, the social recruitment platform for fastgrowing startups that puts friends to work. (http://www.tribehired.com)
Ruckus Wireless Names Former Verizon and Ericsson Telecom Heavyweights to Its Board, Closes Mezzanine Round of $22 Million
Dick Lynch and Georges Antoun Join Board as Company Capitalizes on Growing Demand for Carrier Wi-Fi,Adds SingTel Innov8 and Meritech Capital Partners as New Investors
MOBILE WORLD CONGRESS, Barcelona, 27 February 2012 – Ruckus Wireless™ (Ruckus) today announced that it has secured $21.7 million in financing, increasing the total investment in the company to $72.7 million since its formation in June 2004. In addition, the company named two new industry luminaries, Richard J. Lynch and Georges Antoun, to its board of directors.
Joined by existing investors, the financing was led by two new investors, Meritech Capital Partners and SingTel Innov8, a wholly owned subsidiary of the SingTel group. Profitable and cash flow-positive in calendar year 2011, Ruckus will use the proceeds to expand and fund future growth into the explosive carrier mobile Internet infrastructure market as well as to bolster its rising position in the enterprise wireless LAN market.
“The impact of the mobile Internet is transforming the telecom industry, congealing new and massive opportunities that we have been developing since 2008,” said Selina Lo, president and CEO of Ruckus Wireless. “The addition of Dick and Georges to our board validates our vision in Wi-Fi/cellular convergence and strengthens our execution in the carrier Wi-Fi market. Dick and Georges represent the top caliber of our industry in experience, technical, business and management savvy, as well as relationships with operators and ecosystem partners. We are honored and excited to have them on our team.”
"We invest in companies with technologies that can potentially enhance the capabilities of the operators within the SingTel Group by delivering solutions across various product segments and verticals,” said Jeff Karras, Managing Director of Investments for SingTel Innov8. “Ruckus is one of these companies and with the changes in the carrier market, we are excited about the opportunities that lie ahead of them.”
“We believe there is significant growth ahead in the service provider market for a new class of Wi-Fi and small cell solutions,” said Mike Gordon, Partner at Meritech Capital Partners “Ruckus is clearly well-positioned and has a proven record for developing unique technology to capitalize on this emerging market. Their recent service provider wins have already demonstrated this success.”
New Board Members Bring Unmatched Telecom Expertise
Former executive vice president for Verizon Communications, Dick Lynch was responsible for delivering strategic technology initiatives across the corporation. Previously, Lynch was executive vice president and chief technology officer for Verizon Communications and had been the executive vice president and chief technical officer for Verizon Wireless and its predecessors since 1990. Lynch is a Fellow of The Institute of Electrical and Electronic Engineers (IEEE). He has served on the executive board of the CDMA Development Group (CDG), the board of GSMA, and as a member of the Federal Communications Commission Technical Advisory Committee.
The former head of Ericsson’s product area IP & broadband networks (PAIB) business, Georges Antoun joined Ericsson when it acquired Redback Networks where he was head of sales and marketing and later on, CEO. Previously, Antoun spent five years at Cisco Systems where he served as vice president of worldwide systems engineering and field marketing, vice president of worldwide optical operations, and also served as vice president of carrier sales. Antoun was instrumental in the successful strategy behind Cisco’s entry into the service provider and optical markets.
SingTel Innov8 welcomes JFDI–Innov8 Bootcamp participants
SingTel Innov8 welcomes all the participants to the JFDI–Innov8 2012 Bootcamp! The first-ever 100-day bootcamp in SE Asia, it is operated by JFDI.Asia and is backed by SingTel Innov8, a syndicate of business angels, and Singapore government agencies, MDA and SPRING Singapore. We would also like to express our thanks to the mentors and other members of the start-up community who have helped make the bootcamp a reality.
We wish the participants all the best for the bootcamp!
JFDI partners SingTel Innov8 to bring successful start-up acceleration programme to Asia Pacific
Programme will help entrepreneurs secure the mentoring and funds they need to launch successful digital businesses.SingTel Innov8 will provide resources, industry insights and access to regional markets
Singapore, 26 September 2011 – The Joyful Frog Digital Incubator (JFDI) is partnering SingTel Innov8 (Innov8), the corporate venture arm of the SingTel Group, to bring to Asia Pacific the successful US start-up accelerator programme pioneered by TechStars. This programme will give digital start-ups intensive mentorship from industry experts plus access to mobile markets and investors across Asia.
Operating in Singapore, JFDI aims to replicate TechStars’ 70 per cent success rate as a seed accelerator in taking digital start-up businesses from ideas to investment readiness. In just five years, TechStars and similar programmes have created over US$5 billion in value in hundreds of new businesses.
The highlight of the programme is the JFDI-Innov8 2012 Bootcamp (Bootcamp), which is an intensive 100-day event, where teams of developers and entrepreneurs will receive S$15,000 and be guided by accomplished mentors and industry experts to help kick-start their businesses. These teams will also get the opportunity to pitch to international investors.
To win a spot in the Bootcamp, developers and entrepreneurs from around the world can apply via the JFDI website as of today. In addition, they can take part in Startup Weekend events, where they will form teams to generate ideas for mobile and internet applications. The weekend-long competitions will be held in a number of major cities across Asia Pacific. The first Startup Weekend, hosted by SingTel, will kick off in Singapore on 14 October.
As many as 15 teams will be shortlisted for the Bootcamp to be held in Singapore in January 2012.
Meng Wong, co-founder of JFDI said: "Our door is open to anyone from anywhere who can prove that they have got what it takes. Our objective is to catalyse the creation of world-class, investment-ready start-up businesses that have the talent, technology and connections to scale rapidly and enrich people’s lives. As part of the SingTel Group, Innov8 brings more than funding. It also provides industry expertise, regional market insights and the potential to access over 416 million of the Group’s mobile customers across Asia and Africa.”
Yvonne Kwek, CEO SingTel Innov8 said: “This accelerator programme gives start-ups an amazing opportunity to crystallise and test their ideas as well as gain access to funding for their business dreams and goals. Innov8 will play a role in nurturing the teams and facilitating their go-to-market strategies to help deliver innovative digital applications and services to millions across Asia.
SENTILLA RAISES $15 MILLION IN SERIES C FUNDING
Sentilla’s Leading Infrastructure Technology Transitions IT From Static, Reactive Operations Center into Thriving Revenue GeneratorREDWOOD CITY, Calif. - August 15, 2011—Sentilla Corporation, leading provider of IT infrastructure software that discovers, monitors, analyzes, plans and automates data center workloads, today announced it has secured $15 million in Series C financing. The funding round was led by SingTel Innov8 Ventures, the corporate venture arm of the SingTel Group, with participation from Sentilla’s existing backers, ONSET Ventures and Claremont Creek Ventures. The infusion of capital will be used for sales and marketing expansion.
Sentilla is poised to deliver on its unique business model when enterprises need it most. IT executives that are developing strategies for upcoming quarters are increasingly asked to support new business initiatives with diminishing budgets. Sentilla allows IT executives to treat data centers as opportunity to generate new revenue and increase profits. With instant visibility into operations and the planning tools, IT executives can make strategic decisions that minimize capital investment and operating expenditure, and will be able to deliver at least double the business value and revenue potential of the IT services they control. It is Sentilla’s immediate, granular view of the data center that, for the first time, positions IT departments as a profit center instead of a financial burden.
Yvonne Kwek, CEO of SingTel Innov8 said, “Sentilla’s technology of maximizing business value from IT organizations addresses a critical need – not just for the telecommunications industry, but also in other enterprises that are looking to leverage IT to drive greater revenue and profitability.”
Sentilla’s sophisticated resource and cost planning enable telecommunications and media companies to deliver new business offerings, especially with the emergence of cloud services. With predictive analytics, Sentilla empowers proactive planning for upcoming requirements, cloud strategy and the implementation of flexible IT infrastructures. Enterprises gain the ability to maximize the evaluation, design, implementation and operation of physical, virtual and cloud IT infrastructure.
“We’re leading the charge to turn IT upside down and deliver more services using less resources,” said Mike Kaul, chief executive officer of Sentilla Corporation. “Sentilla is the only company that can provide the diagnostic insight to drastically reduce data center costs AND increase company revenue as well as profitability. This funding is a validation of what we’ve been seeing in the market and hearing from our valued customers, and provides us with the resources to accommodate growing demand.”
Sentilla’s award-winning, innovative features include patent-pending Sentilla Virtual Meters, which computes the power consumption of unmetered assets, performs “what-if” analysis to predict future performance, and accurately tracks and predicts application performance and energy used in both virtual and dedicated environments. It is unique in the data center infrastructure management (DCIM) space because of its leadership position as the most integrated solution empowering the software with more data points providing a more comprehensive view of the data center environment than any other solution.Dealised raises S$6.5 million in Series A funding led by SingTel Innov8
Singapore HQ to drive Asia’s first group-buying platform solution expansionSINGAPORE - July 5, 2011 – Dealised, an innovator in group-buying solutions, has announced S$6.5 million (A$5 million) in Series A funding to accelerate the global roll-out of its combined marketing solution and technology platform. Led by SingTel Innov8, the SingTel Group’s corporate venture capital fund, Series A also included Yuuwa Capital LP, an Australian-based venture capital firm. Dealised is the first to offer this group-buying solution in Asia. Dealised will use its regional Asian headquarters in Singapore to drive global business expansion and develop mobile group-buying solutions.
Dealised is already working with several UK-based customers, including The Daily Telegraph, as well as leading media owners Mecom in Scandinavia and with customers in Australia/New Zealand, the Middle East and the US. Companies, including media firms, mobile operators, retailers and others, use Dealised’s technology and services platform to create and manage their own deals and develop their business. A new Dealised partner can have a dedicated group-buying business running within weeks, without significant upfront costs.
Dealised also announced the appointment of veteran telecommunications executive, Jonathan Marchbank as Chief Executive Officer. Mr Marchbank has worked with both mobile operators and device manufacturers in the US and Asia for the past 20 years, and immediately prior to joining Dealised served as Chief Operating Officer for Virgin Mobile US.
“Dealised partners in Australia and Scandinavia have already beaten Groupon and Living Social in their local markets. With our platform & services, partners quickly create and manage regular offers for their customers, maintaining revenue and relationships at risk from Groupon-like clones. We are busy repeating that successful formula in other markets,” noted Mr Marchbank.
Mrs Yvonne Kwek, CEO of SingTel Innov8 said, “Dealised’s platform and market knowledge offers publishers, media companies and telco companies the opportunity to generate better value for their customers through innovative group-buying services.”
“The most exciting trend is in mobile, especially in Asia, and we see the volume of group-buying transactions on smartphones and other mobile devices growing exponentially over the next couple of years. Our operations in Singapore, as the business hub for Asia, are where we will focus on mobile growth,” concluded Mr Marchbank.
Dealised is one of the earliest entrants into what is a very young industry. It was created in late 2009 to power Spreets, an Australian deals site, which quickly became a market leader. Spreets was acquired by Yahoo7! in Australia in 2010 for A$40 million.
Other Dealised investors include Sydney start-up incubator, Pollenizer and a select number of angel investors. These investors bring a great depth of managerial experience, with backgrounds in digital media, e-commerce and mobile. The company will use the A$5 million from this fundraising to grow its base in Asia and in Europe, and to develop mobile group-buying solutions.
ViVOtech Closes $24 Million In Additional Series C Funding
Singapore’s EDBI, SingTel Innov8 and Motorola Solutions Join Current Investors to Fund Near Field Communication Pioneer’s Rapid Growth and ExpansionSanta Clara, California – June 27, 2011 – ViVOtech, the near field communication (NFC) software and systems company, today announced it has closed $24 million in a multi-stage extension to its Series C round of funding. The extension featured notable new investors Singapore’s EDBI, SingTel Innov8, and Motorola Solutions Venture Capital, which were joined in the round by ViVOtech’s current financial and strategic investors Alloy Ventures, Citi Ventures, Draper Fisher Jurveston, DFJ Gotham, First Data Corporation, Miven Ventures, Motorola Mobility, Nokia Growth Partners and NCR.
The funds will be used to drive ViVOtech’s rapid growth and accelerate expansion into more countries beyond the 35 where ViVOtech NFC software and systems are used today.
ViVOtech’s NFC software and systems enable rich mobile commerce solutions for in-store payment, loyalty, marketing, and merchandising. Founded in 2001, ViVOtech provides key building blocks of the NFC ecosystem: smart applications for enhancing the customer experience, wallet and trusted service manager (TSM) software, and point of sale systems.
“Businesses today are relying more on innovative solutions to enrich the retail experience,” said Chu Swee-Yeok, CEO of EDBI. “ViVOtech has emerged as the clear leader in this field, with its unique end-to-end NFC-based mobile commerce solutions that are successfully gaining traction with its customers globally. With our investment, ViVOtech will be able to leverage EDBI’s extensive industry networks and understanding of Asia to capitalize on opportunities created by the vibrant mobile commerce industry in the Asia Pacific region. We also look forward to the setting up of ViVOtech’s Global Centre of Excellence in Singapore to commercialize innovative mobile commerce applications for the international markets.”
“As part of Asia’s leading communications group, with access to over 400 million mobile subscribers in the region, SingTel Innov8 is searching for innovative technologies to invest in that will help the SingTel Group deliver exceptional customer experience,” said Yvonne Kwek, CEO of SingTel Innov8. “With NFC set to revolutionize the mobile commerce market, it is important for us to partner with ViVOtech, one of the pioneers in this space, as they expand their global presence.”
“With retail being a key vertical market for Motorola Solutions, it is important for us to identify and invest in solution providers that offer technologies that can have a major impact on the retail ecosystem,” said Tony Palcheck, managing director of Motorola Solutions Venture Capital. “ViVOtech is one of a select group of companies that have the technology, vision and expertise that provides a unique benefit to major retailers, banks, credit and loyalty card providers, carriers and ultimately consumers.”
“Citi has been a ViVOtech investor for more than three years because we see them as a key player in the mobile payments ecosystem,” said Chris Kay, managing director, Citi Ventures. “Citi Ventures’ goal is to develop and commercialize the highest new growth opportunities that directly support Citi’s strategic directions and that foster emerging technologies. We’re happy to work toward this goal with leading companies like ViVOtech.”
“ViVOtech has worked long and hard over the last 10 years to establish ourselves as a leading enabler of in-store mobile commerce,” said ViVOtech CEO, Michael (Mick) Mullagh. “The market is on the verge of rapid growth and we are gratified by the support and validation of our stellar group of strategic and financial investors. We particularly welcome our new investors from Singapore, EDBI and SingTel Innov8, and Motorola Solutions. In and of themselves our investors represent a mini NFC ecosystem. By collaborating with them and our partners and customers, we will stay on the leading edge of innovation and the development of merchant and consumer friendly applications.”
Capela Intelligent Subsystems closes $20m investment
SingTel Innov8 Joins as Strategic InvestorThe $20 million in new capital will be used to expand and strengthen Capella’s presence in the ROADM market, which is expected to grow to $1.8 billion over the next four years according to Infonetics Research. New product offerings and operational improvements are Capella’s key focus in the coming months, as the Company expands to meet growing market demands.
“We are in the midst of a global network transformation driven by consumer services such as video, music and social networking. Capella is well positioned as an enabler in broadband content distribution. As companies upgrade their networks to support IP-based consumer services, Capella’s technology will be critical,” said Larry Schwerin, chief executive officer of Capella. “Networks need to deliver quality broadband services at a price consumers are willing to pay, and Capella provides the industry-leading solution to enable their customers to build cost effective, flexible networks.”
“With the increasing need of optical network flexibility and reliability, Capella's Wavelength Selective Switch (WSS) has the potential to significantly reduce service provider CAPEX and OPEX,” said Yvonne Kwek, CEO of SingTel Innov8. "As service providers build out and upgrade their networks, Capella’s WSS technologies provide a compelling competitive advantage."
“We believe Capella’s technology leadership in the wave selective switch market will continue to expand through various consumer applications. VoIP, VoD, and video gaming are just a few of these consumer applications made possible by Capella,” commented Christopher B. Lucas, Founder and Managing Director of Black Diamond Ventures.. “With the recent additions to their senior management team, Capella is poised for what we expect will be a period of explosive growth for the company worldwide.”
MDA, SingTel Innov8 and NUS Enterprise join forces to establish an incubation programme for the IDM sector
A comprehensive eco-system for start-ups to be housed at Mediapolis Phase 0As part of Blk71, MDA and SingTel Innov8, the corporate venture arm of the SingTel Group, have signed a Memorandum-of-Understanding (MOU) to provide funding and create a dynamic environment for start-ups. Under the MOU, both parties will make joint Calls-for-Proposals (CFPs) which will provide successful start-ups with up to S$50,000 of initial seed funding and opportunities for follow-on funding of S$200,000 or more. MDA and SingTel Innov8 will also co-sponsor activities such as industry speaking engagements, workshops and networking events. To support these initiatives, MDA and SingTel Innov8 will commit an initial sum of up to S$2 million each over three years.
MDA will also allocate office and incubation space at Mediapolis Phase 0 located at Block 71 Ayer Rajah Industrial Estate, where NUS Enterprise and SingTel Innov8 have already signed on as anchor tenants. NUS Enterprise and MDA will work together to manage the facility to foster a vibrant environment for IDM-related start-ups, investors, technology incubators and industry partners.
Mr Michael Yap, Executive Director of the Interactive and Digital Media Programme Office hosted by MDA said: “We are glad to have the support from both SingTel Innov8 and NUS Enterprise to drive this incubation programme. Their support will bring about greater sophistication and effectiveness in helping our start-ups. This augurs well with our aspiration to develop IDM products and services targeted for the “Next Billion Internet Users” emerging from Asia.”
NUS Enterprise will leverage its experience and networks as an incubator to manage the Blk71 incubation space. This space will house a host of support structures that will facilitate the translation of ideas into start-ups and bring start-ups to the next stage. Common space will be provided, as well as business services such as legal and financial advisory resources, and intellectual property management.
Dr Lily Chan, CEO of NUS Enterprise added: “Blk71 will pull together the relevant companies and industry players in the IDM sector that are currently dispersed around Singapore. By bringing these together in one vibrant start-up environment, it will build up a critical mass for increased synergy, entrepreneurial dynamism and economies of scale. Blk71 will form a key complementary component of NUS Enterprise’s eco-system, which includes NUS Enterprise’s office and the NUS Enterprise Incubator, where we support some 80 technology start-up companies.”
Completing this one-stop access at Blk71, successful start-ups can look to SingTel Innov8 for support and a platform to showcase their innovative solutions via regular pitching sessions, as well as mentorship from subject matter experts and access to markets. In short, SingTel Innov8 is a start-up’s partner that not only provides funding, but the access, capabilities and infrastructure that could accelerate and boost their success.
Mrs Yvonne Kwek, CEO of SingTel Innov8 said: “With MDA and NUS Enterprise, we want to create a rich, vibrant eco-system and community involving start-ups, incubators, investors and industry players to help catalyse the development of innovative ideas and solutions in the IDM and internet space. With the backing of the SingTel Group, SingTel Innov8 offers a unique value proposition to start-ups with our industry knowledge and presence in Asia and Africa.”
Bubble Motion Raises $10M to Expand Bubbly, its Explosive Mobile Social Messaging Service, Across and Beyond Asia
Strategic Investment led by Singtel Innov8 with participation from Sequoia Capital, Palomar Ventures, NGC and Infocomm InvestmentsThis is Bubble Motion’s second round of financing since its strategic shift into becoming a social messaging company in 2009. Since Bubble Motion launched Bubbly™, its flagship voice-based social messaging service, just one year ago, it has gained over 7 million users across 4 countries (India, Indonesia, Japan and Philippines) and has delivered more than 250 million bubble messages through its service.
This strategic round of financing will be used by Bubble Motion to accelerate growth of its service into new countries, while scaling its technology platform which has become the standard voice-based mobile social networking solution for mobile operators across Asia. The company’s flagship service Bubbly will expand to additional mobile platforms including additional operator networks, the mobile Web and smartphone applications.
Bubble Motion is already working closely with several large associates within the SingTel Group, including Bharti Airtel in India, Telkomsel in Indonesia, and Globe in the Philippines. SingTel brings a vast network of operator partners and contacts, as well as renowned telecom expertise and experience to Bubble Motion.
“We have been impressed with the strong growth of the Bubbly service across Asia and are excited to be joining up with the Bubble Motion team” said Yvonne Kwek, CEO of SingTel Innov8. “We are looking forward to working with the company to build and expand on their early success.
“We are excited to have SingTel and Infocomm Investments join our group of existing investors as we continue to shape the mobile social media landscape in Asia and beyond,” states Bubble Motion CEO Thomas Clayton. “Given our focus in mobile social media in Asia, these two new investors are the perfect fit for our current strategy and we’re very excited to have them onboard.”
“Bubble Motion has assembled a world-class team in Singapore. It is yet another leading tech startup leveraging Singapore’s position as a base for technology innovation and to address the fast-growing Asian market,” said Dr Kuo-Yi Lim, CEO of Infocomm Investments. “Infocomm Investments is pleased to join a distinguished team of investors and be a strategic partner to Bubble Motion.”
Stream Media raises Series A funding
MoVend to provide global payment platform for mobile in-app transactionsMr Edgar Hardless, Managing Director (Investments), SingTel
Innov8 said, “The mobile space needs more high-quality apps as more users turn
to their mobile devices to cater for their entertainment and productivity
needs. And the ability to easily monetise apps will certainly help encourage
developers to continue to produce innovative mobile apps.”
Baynote Closes $13 Million Investment Led by SingTel Innov8
San Jose, California, 12 Jamuary 2011 - Baynote, a leader in personalization and digital marketing optimization, announced today that it has closed $13 million in Series C financing. The investment was led by SingTel Innov8, the corporate venture arm of the SingTel Group, Asia’s leading communications group with 368 million[1] mobile customers across Asia and Africa. All existing investors, including Hummer Winblad, Steamboat Ventures and JK&B Capital also participated in the round. Concurrently, Baynote announced that former SAP executive Doug Merritt has been named president and CEO to lead the company through its next phase of investment and growth.
Both announcements come on the heels of 2010 being another record year for Baynote as the company grew year over year revenues by approximately 75 percent. This momentum drove the board’s decision to invest in several functional areas that will allow the company to scale with heightened demand for its adaptive web solutions among digital marketing and e-commerce executives at Global 2000 organizations. The new capital, which brings total funding for Baynote to more than $28 million, will be used primarily to advance the company’s entrance into new high-growth industries, such as telecommunications and financial services, and accelerate product innovation. Funds will also be used to more aggressively expand Baynote’s brand exposure worldwide.
“Through SingTel Innov8’s investment, we hope to tap into the SingTel Group’s expansive markets and capabilities to help take Baynote and our technology for digital and e-commerce professionals to the next level,” said Jack Jia, founder and chairman, Baynote.
“We believe Baynote’s thought leadership around the adaptive web and its disruptive collective intelligence technology for digital marketers and merchandisers will continue to fuel the company’s growth in an area which is becoming more important for enhancing customer experience,” said Yvonne Kwek, CEO of SingTel Innov8. “With Doug’s appointment to CEO and the latest financing, Baynote is now poised for what we expect will be a period of very explosive growth for the company worldwide.”
“Baynote has done an excellent job growing between 70 and 120 percent each year since the company was founded in 2005,” said Doug Merritt, Baynote’s newly appointed president and CEO. “Based on the founding team’s incredible success to date and the increasingly strong reception to our technology among digital marketers, the board and management team expect our growth rate to be multiple times higher by the end of 2012. We’ll use the funding to be more aggressive in product innovation, marketing, and channel development to scale with this exciting opportunity.”
SingTel Innov8 makes its first investment in 2359 Media
Innov8 funds Singapore-based mobile publishing platformSingapore, 10 January 2011 – SingTel Innov8 Pte. Ltd. (Innov8) today announced that it has led a Series-A financing in 2359 Media Pte. Ltd. (2359 Media), a Singapore-based company, making this Innov8’s first investment since its launch in September 2010.
Innov8, a wholly-owned subsidiary of the SingTel Group, has invested approximately S$800,000 in the company. 2359 Media was founded in 2009, and is supported by NUS Enterprise Incubator.
The Series-A financing will help 2359 Media accelerate the development of MobDis, its mobile advertisement creation platform that allows marketers and designers to rapidly create engaging mobile advertisements. 2359 Media plans to expand its distribution into the US market within the next quarter.
Innov8 was set up to help the SingTel Group gain early access to new technologies and stay relevant to customers’ needs. In turn, developers and innovators can leverage the scale and reach of the SingTel Group to access 368 million1 mobile customers across Asia and Africa.
Mrs Yvonne Kwek, CEO of Innov8, said: “We are excited to support the local ecosystem of developers and innovators. We have also been encouraged by the level of interest and promising ideas we have received so far, not only from Singapore, but from around the world including China and the US.”
SingTel Group sets up S$200 million corporate venture capital fund to drive innovation
SingTel Innov8 to invest in innovative technologies and solutionsSingapore, 21 September 2010 – Singapore Telecommunications Limited (SingTel) today announced it has set up SingTel Innov8 (Innov8), a corporate venture company to invest in innovative technologies and solutions to create future growth engines for the Group. Innov8, a wholly-owned subsidiary of SingTel, will have an initial fund size of S$200 million.
Innov8 will collaborate with leading innovators, developers, government agencies, R&D organisations as well as other equity providers around the region to promote innovation. It will work closely with these partners to identify and explore new ideas and technologies, fund and support promising companies and provide access to markets that the SingTel Group operates in.
Mrs Yvonne Kwek, CEO of SingTel Innov8, said: “Innov8 will connect with the innovation hotspots of the world for new ideas, technology, products and services. We will invest in and incubate these innovations, and eventually bring them to market.”
Innov8 will focus its investments on technologies and solutions that lead to quantum changes in network capabilities, next generation devices, digital content services and enablers to enhance customer experience.
Developers and innovators can leverage the scale and reach of the SingTel Group to access over 350 million customers across Asia and Africa. Innov8 will also allow developers and innovators to uncover the uniqueness of different markets and help them create better solutions for mass deployment. In return, the SingTel Group will gain early access to new technologies, allowing it to enhance its customer proposition and make forays into new markets or segments.
Innov8 is part of the SingTel Group’s journey to transform itself from a traditional telecommunications provider to become a leading multimedia and ICT solutions provider.
Ms Chua Sock Koong, SingTel Group CEO, said: “The investments made by Innov8 will ensure that the SingTel Group continues to stay relevant to customers' needs and capture growth opportunities. With Innov8, the Group will continue to shape the market and deliver sustainable growth into the future.’’