Singapore-based startup ventures UpCode Academy and AlgoMerchant have closed early-stage funding rounds.
UpCode Academy closes $220k seed round
Singapore-based UpCode Academy, a coding school that sources technology professionals as teachers, has raised S$300,000 ($220,000) in seed funding from Tri5 Ventures.
Investment proceeds will go towards building more classrooms and expanding its student and teacher pools. The venture has previously been backed by 500 Durians, the Southeast Asia-focused fund of 500 Startups.
The classes the schools provide include data science and machine learning, hardware engineering and other relevant fields. These classes are taught by current working professionals to teach students, as part of a strategy to ensure engineering talent is being trained by industry professionals and to facilitate knowledge transfer.
Additionally, it is developing an online platform for people to crowdsource popular professors and classes; this will launch in January 2018. Currently, the company is working with Google, Airbnb, Grab and Carousell.
AlgoMerchant raises $2m from East Ventures & angels
Securities trading platform AlgoMerchant will commence official operations after raising more than $2 million in funding from East Ventures and a group of angel investors from the fund management and broking industry.
The firm offers a range of robo-traders that permits investors with different profiles, ranging from part-time retail investors to professional investors and HNIs, to automate securities trading through their personal accounts.
Using data analytics and machine learning tech to automate trading, it also minimises delays and human errors and offers a tiered service structure, with basic services being free.
The company collaborates with freelance quantitative traders and data scientists globally to source profitable investment algorithms and claims it can offer annual returns of more than 40 per cent through its bots. Additionally, it offers a social network and occasional seminars for its user community.
Founded in 2014 by former bankers Justin Tjoa and Aditya Santoso, it went through NTUitive, an incubator programme affiliated with Nanyang Technological University and closed a seed round of $910,000 from East Ventures in January 2016.