– intelligent virtual assistants for financial service institutions

// will use funding to accelerate development of its platform’s features

Singapore-based fintech startup has raised US$3 million from IDG Ventures India and Kalaari Capital.

It aims to use the newly-raised capital to accelerate the development of more advanced AI features for its platform.

Founded by Ravishankar, Shankar Narayanan and Parikshit Paspulati, develops intelligent virtual assistants for financial service institutions. These virtual assistants come in the form of bots, SMS or voice API’s.

Customers who leverage on this automated AI-enabled service can get their queries and businesses handled much quicker than traditional means such as via telephone.

“Conversation is the new UX and with banks opening up APIs, a new era of digital business is emerging. We are moving from ‘Mobile First’ to ‘AI first’ and is the platform facilitating banks to achieve that,” said Ravishankar, in a press statement.

“43 per cent of worldwide mobile phone consumers with a bank account use mobile banking today. The new generation of banking customers are looking for easy, secure and seamless interaction with their financial services provider,” said Sanat Rao, IDG Ventures.

Image Credit:

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from e27

Lunch Actually bags 7-digit Series A from Fatfish and a Japanese social network


The Singapore-based premium dating platform plans to ramp up presence in existing markets as well as expand to one new market

Lunch Actually

Singapore-based dating services provider Lunch Actually has raised an undisclosed 7-digit Series A round from Japanese social media network and publisher of mobile game Monster Strike mixi; and ASX-listed Singapore-based VC Fatfish.

The newly-raised capital will be used to increase its presence in existing markets — Singapore, Malaysia, Thailand and Indonesia — as well as expand to one new market in Asia. In addition, it will be ramping up marketing and hiring efforts.

First established in 2004, Lunch Actually operates a suite of dating services including its bread-and-butter dating consultation service, online matchmaking platform esync, and dating app LunchClick.

It made two acquisitions in the past two years including dating app Love Out Loud Asia (LOLA) and Thailand matchmaking company MeetNLunch.

Lunch Actually claims to have more than half a million users and a five-fold revenue growth since 2011.

Despite its optimistic outlook, the dating company attracted controversy in the online community over claims of poor customer services and hard-sell tactics.

Lunch Actually, however, vehemently defended itself in an exhaustive article on Vulcan Post.

Image Credit: LunchActually



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from e27

Kacific Broadband Satellites – satellite operator

Kacific Broadband Satellites : additional US$2.3 million will be raised from Australian tech

Kacific Broadband Satellites has agreed terms on funding of US$20
million from a United Kingdom-based family office with a particular
focus on infrastructure investments. Arranged by Kacific’s advisor,
Caniwi Capital, the placement is part of Kacific’s Series A round of
capital raising, and is a major step for the company towards the
financial close of its project, which will bring high speed broadband
satellite services to remote and isolated areas of the Pacific and South
East Asia.
Kacific Broadband Satellites

The family office, which does not wish to be identified, made the
decision to invest after following Kacific’s accelerating progress in
signing agreements for satellite broadband provision.

Terms for a further US$2.3 million have been agreed with two Australian
private investors with experience in financial markets and in developing
and commercialising new IT and telecommunications technologies.

Kacific now has agreements representing over US$260 million of pre-sales
contracts for its high-throughput satellite (HTS) broadband internet
service with governments, ISPs and telecom operators of eleven
Asia-Pacific countries, including Indonesia. It aims to provide service
to markets in South East Asia, New Zealand and the Pacific with its
first satellite.

Kacific founder and CEO, Christian Patouraux, said: “We are delighted
with this vote of confidence from seasoned professional investors and IT
and telecommunications veterans who have reviewed our business model and
noted our recent accomplishments. These investments will, we believe,
encourage further take-up of our service in our target markets.”

About Kacific Broadband Satellites

Kacific Broadband Satellites Pte Ltd is a satellite operator developing
a broadband offering for the underserved Pacific market. It plans to
address the gap in supply with a satellite specifically designed for
this market and using the latest multi-beam and high throughput space
communications technology transmitting over the Ka Band.

Kacific Broadband Satellites

Kacific Broadband Satellite
Christian Patouraux, +65 9 800 0310
Butler Raudon Partners
Allan Botica, +64 21 400 500

Kacific Broadband Satellites