#Asia Ruvento raises new seed fund for hardware startups in Singapore, China, and the US

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It will write 70 per cent of its check between US$100,000 and US$500,000 with the rest of the capital reserved for follow-on investments of up to US$2 million

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Singapore-based capital firm Ruvento today announced a new US$25 million seed fund for hardware startups from Singapore, China, and the US, according to a report by TechCrunch.

The fund will write 70 per cent of its check between US$100,000 and US$500,000 with the rest of the capital reserved for follow-on investments of up to US$2 million.

The firm is particularly interested in infrastructure hardware, believing in the untapped potential around IoT and sensor integration. It is also interested in the commercial applications of drones and robotics, as well as creative use of VR and AR in problem solving.

Also Read: Fenox Venture Capital joins forces with Wistron Corporation to launch a new US$20M fund

“Hardware shouldn’t mean gimmicks … We are not investing in things you don’t need,” said Ruvento Managing Partner Slava Solonitsyn.

Founded by Alex Toh and Slava Solonitsyn in 2011, Ruvento started off as an incubator programme. It initially aimed for footing in a more than US$2 million syndicated seed rounds, with its past experience in investing for supersonic jet startup Boom Technology. But it eventually decided to focus on giving the first or second investments in smaller rounds.

So far, it has invested to over 14 companies from this fund, including Prenav (US$6.5 million of seed round) and Naked Labs (undisclosed seed funding).

Image Credit: goodluz / 123RF Stock Photo

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