In a couple of deals in the region, JALA Tech, a Yogyakarta-based shrimp farming management startup, has secured seed funding led by 500 Startups. Meanwhile, Singapore-based Hoow Foods has raised S$1.70 million ($1.23 million) in a seed round from local F&B firm, Killiney Group.
500 Startups invests in JALA Tech
JALA Tech, a Yogyakarta-based shrimp farming management startup, has secured seed funding led by 500 Startups.
Conservation International Ventures and Hatch Accelerator Holding focused on early-stage aquaculture startups, also participated in the funding round.
The startup provides data-driven insights using hardware and software-based services to monitor and make better decisions for shrimp farmers in mitigating harvest failure.
JALA Tech had previously secured funding from HATCH Blue, an aquaculture-focused accelerator programme. The company claims that the funding round marked the first significant investment in the IoT water management software platform that also develops its own hardware products.
The company’s device is applicable for all types of water monitoring systems and treatment plants, including smart city water management, it said.
SG-based Hoow Foods gets $1.2m seed funding
Singapore-based foodtech startup Hoow Foods has raised S$1.70 million ($1.23 million) in seed funding from local food and beverage firm, Killiney Group, according to a Business Times report.
Other participants in the round include Innovate360, Singapore’s first government-backed food incubator, and TRIVE Ventures.
Hoow Foods was incorporated in 2018 by four scientists from the National University of Singapore (NUS). The technology platform attempts to fill the large gap between novel ingredients that confer health benefits and finished products.
One of Hoow Foods’s first innovations is a line of ice-cream products called Callery’s, claimed to be one of Asia’s first low-calorie, low-fat and low-sugar ice cream.
Hoow Foods CEO and co-founder Ow Yau Png said, “With our unique proprietary smart proprietary platform on food reformulation, we are confident of producing game-changing products within unprecedented development speeds.”