Singapore-based startup generator and early-stage VC Antler has invested $2.4 million into its second cohort of startups while Brunei-based legacy planning startup Memori has raised an undisclosed sum in seed investment from members of an Asian royal family.
Antler invests $2.4m into second batch of startups
Singapore-based startup generator and early-stage VC Antler has invested $2.4 million into the second cohort of startups, TechInAsia reported.
The second batch comprises companies from enterprise, telecom, fintech, and consumer technology sectors.
In February, Antler said, it was targeting to hit the final close of its $30-million Southeast Asia (SEA) fund by the end of this year. In an interview with DEALSTREETASIA, Antler CEO and founder Magnus Grimeland had said that the fund was oversubscribed, which led the firm to increase the size from the initial $15-20 million.
The fund reached its first close in Q3 2018. Antler’s SEA fund has been backed by institutional investors, family offices and high net-worth individuals from Singapore, Indonesia, Thailand, and Japan.
Brunei’s Memori secures additional seed investment
Brunei-based legacy planning startup Memori has raised an undisclosed sum in seed investment from members of an Asian royal family, according to a statement.
The proceeds will be used to grow the business in Brunei, Singapore, and Malaysia.
Memori was set up in August last year with the purpose of simplifying the process of preparing end of life and demystifying a topic that’s traditionally considered taboo in Southeast Asia.
Last year, the firm raised BND158,000 ($100,000) in a seed investment round from 113 Venture Growth Fund, which has backed firms like Facebook and Alibaba Group.
The startup aims to help manage services like securing wills, buying insurance policies, arranging funerals, memorial services and will enable users to safely store their digital assets.