Nest Tech – a venture capital firm that targets investments in Singapore, Vietnam and Myanmar – has closed a six-digit dollar investment in Kalpha, Singapore-based education technology startup that helps connect and empower the community on skills, knowledge and experience sharing.
With the investment, Kapha’s valuation has reached a seven-digit dollar figure. The startup will use the proceeds to grow the business and for international expansion.
Kalpha has created a peer-to-peer mobile application that allows individuals to connect and learn from each other on a face-to-face basis, with an option to share.
“This is as much a strategic partnership as it is an investment, and we will work closely with Kalpha to grow their business and take it international,” said Soe Moe Kyaw Oo, managing partner, Nest Tech, in a statement.
Founded by Jack Soh and Jaden Teo, Kalpha was born out of Ngee Ann Polytechnic’s startup incubator The SandBox. The startup has also been awarded the SG Founder’s Grant by Enterprise Singapore.
Prior to Kalpha, the founders set up a third-party procurement company, which even clocked revenues during the four years of operation.
The investment in Kalpha is the fifth from Nest Tech that was established by Oo in 2018.
Nest Tech’s flagship investment was in Trophy Room, a peer-to-peer football gaming app from Singapore, followed by Edu2Review, an education review platform from Vietnam; Flexible Pass, Myanmar-based health and fitness app; and Mote Poh, a startup from Myanmar that offers employee benefits and rewards.
In a previous interview with DEALSTREETASIA, Oo expressed his intent to support startups to accelerate product development and market expansion in the most sustainable way. The investment firm is looking to back 20 technology startups over the next two years.
The investment firm is sector agnostic but favours education and impact investment bets.