Temasek-backed Reefknot makes debut investment in UK AI startup Prowler

Photo: REUTERS/Beawiharta

Reefknot Investments, a Singapore-based joint venture between Temasek and transport and logistics firm Kuehne + Nagel, has made its first global strategic investment following the launch of its $50-million fund in September.

In a statement, Reefknot said it has invested in Prowler.io, a UK-based artificial intelligence company that helps businesses rebalance financial portfolios to managing supply chains and logistics.

Financial details of the investment were not disclosed. Prowler was valued at $100 million following its most recent round of investment led by Tencent Holdings in May.

Prowler earlier said it was receiving $24 million in new funding and that Tencent led the investment round with participation from Pearson and others including Amadeus Capital Partners, Atlantic Bridge, Cambridge Innovation Capital, Mandatum Life, Passion Capital, RB Capital, and Singapore Innovate.

Reefknot Investments, which looks to support the growth of Series A and Series B stage startups, is focused on high-growth technology businesses seeking to disrupt the supply chain and logistics industry.

The firm is looking at three areas: artificial intelligence and deep tech startups in planning optimisation, data management, supply chain visibility or predictive capabilities; on-demand models in digital logistics; and trade finance.

“We are excited about supporting the application of Prowler.io’s leadership in using its data-efficient AI techniques to feasibly tackle longstanding challenges in the supply chain and logistics industry,” said Marc Dragon, Managing Director of Reefknot Investments.

“We are very impressed by the Reefknot team’s deep knowledge of the logistics and supply chain industry, and their commitment to shaping its future. In addition, through Reefknot, we have access to their ecosystem of domain partners and have the opportunity to combine their sector expertise with our leading technology platform,” said Vishal Chatrath, co-founder and CEO of PROWLER.io.

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.