HK supply chain compliance platform ICW raises $2.5m led by MindWorks

Victoria Peak, Hong Kong. Photo by Florian Wehde on Unsplash

Hong Kong-based International Compliance Workshop (ICW), a supply chain compliance and quality management platform, has raised $2.52 million in a Series A round led by HK-headquartered venture capital firm MindWorks Ventures.

Innovation and Technology Venture Fund Corporation (ITVFC), established by the Hong Kong Special Administrative Region (HKSAR) Government, also participated in the round, ICW said, in a release.

The ICW platform connects global retailers, manufacturers, material suppliers, trading companies, accredited testing and certification institutions.

“Our goal is to make Hong Kong and the Greater Bay Area the product testing, inspection, and certification centre of the world,” said Gary Lam, CEO and co-founder of ICW.

The ICW deal marks the debut investment for ITVFC, which in 2017 set up a HK$2 billion ($255 million) vehicle to boost local startups.

ICW will use the proceeds to further develop its compliance management system and IT platform. It will also use the money to expand to the US and Gulf region.

ICW claims to have clients from over 50 countries and is looking to expand its service by integrating more features on its platform.

MindWorks, which has assets under management of over $400 million across three funds, has invested in over 25 companies since inception in 2014.

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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.