SG Digest: Borneo bags $15.5m; Neuroglee Therapeutics raises $10m

Aniket Singh Rajput, the founder and chief executive of Neuroglee. Source: Neuroglee.

Singapore-headquartered data security platform Borneo and healthtech startup Neuroglee Therapeutics have closed Series A rounds of financing.

Cybersecurity startup Borneo raises $15.5m in Series A round

Data security and information management startup Borneo on Wednesday announced it has raised $15.5 million in a Series A round of financing, bringing its total funding to date to $18 million.

DealStreetAsia first reported the funding round earlier this week.

The round was led by Vulcan Capital, the Seattle-based investment arm of the late Microsoft co-founder Paul Allen, and joined by Prosus Ventures (formerly known as Naspers Ventures), Lytical Ventures, and return backer Wavemaker Partners.

Borneo, which is registered in Singapore, helps companies prevent data leaks and manage privacy compliance requirements. The firm, which also has offices in San Francisco and Bengaluru, was founded in 2020 by Prithvi Rai, a former security executive at Facebook and Uber.

“It was said that every company would someday be a software company, and with that reality, it can now be said that every company is also now a data company. This paradigm shift presents increasingly complex security and privacy challenges as data flows through dynamic cloud-first environments,” said Borneo founder and CEO Rai.

The fresh capital will go towards developing its technology platform, Borneo said.

Neuroglee raises $10m Series A, to open new HQ in Boston

Neuroglee Therapeutics, which builds digital therapeutics and virtual care solutions to manage patients with neurodegenerative diseases, on Thursday announced it has closed a $10 million Series A round.

DealStreetAsia first reported the funding round last week.

The financing was jointly led by Openspace Ventures and EDBI, the investment arm of Singapore’s Economic Development Board.

Other investors include Raman Singh, the former chief executive of Mundipharma; Biofourmis co-founders Kuldeep Singh Rajput – the older brother of Neuroglee founder Aniket Singh Rajput – and Wendou Niu; and pharmaceutical firm Eisai Co.

Eisai previously led the startup’s $2.3 million pre-seed round last December. 

The fresh funding will go towards launching its virtual neurology clinics and developing its digital therapeutics solutions, said Neuroglee. 

“As signalled by our prior investment in Biofourmis, we recognized at an early point that digital health will be an essential piece of the puzzle for providers and caregivers to fight difficult-to-treat health conditions,” said Openspace Ventures co-founder Shane Chesson in a statement.

The startup offers solutions for both care-at-home and for digital therapeutics, in which physicians prescribe digital therapy the same way as a prescription drug.

Neuroglee said it will also set up new headquarters in Boston in the fourth quarter of this year, owing to the area’s status as a leading digital health innovation hub. 

The startup has been working with Mayo Clinic, which has also invested in Neuroglee, to co-develop a novel clinical care program for mild cognitive impairment.

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.