Singapore-based APAC Realty invests $732k in Dots Connected

Singapore. Photo by cegoh/pixabay

Singapore-listed APAC Realty is investing S$ 1 million ($732,000) in Dots Connected, the parent of AI-powered UrbanZoom and referral service UrbanAgents, according to a media statement.

APAC Realty has agreed to buy the three-year interest-free convertible notes issued by the company. The deal is part of APAC Realty’s new investment programme called Digital Lab initiative.

According to APAC Realty CEO Jack Chua, the company has set aside S$5 million from its IPO proceeds for deployment under the initiative.  The company’s investment will mainly support the collaboration between its property sales platform ERA and UrbanZoom, as well as UrbanAgents.

Founded in 2018, UrbanZoom uses AI algorithms to analyse data points derived from regulatory, industry and other public sources to predict the value of a residential unit.

APAC Realty, which was listed on Singapore Stock Exchange (SGX) in 2017, targets to grow its business through expanding its presence in Singapore and overseas and enhancing its technological abilities.

APAC Realty is the exclusive holder of ERA regional master franchise rights in 17 countries in Asia Pacific, the press release said. Pior to its partnership with UrbanZoom, in November 2018, the company collaborated with instant commission advance service for agent Litepay which is owned by Lyte Ventures.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.