Singapore-based ZPX raises $1.3m from SeedPlus, others

ZPX team - Aditya Mishra, Gautam Seshadri and Ramani Ramachandran

Zenprivex (ZPX), a Singapore-headquartered investor and builder of blockchain assets, has announced that it has raised $1.3 million from Ratan Tata-backed seed-stage venture firm SeedPlus and other existing investors.

The funding round was joined by Silicon Valley-based Milliways Ventures, Square product engineering lead Gokul Rajaram, Girish Mathrubootham, Anand Lunia and Zerodha CEO Nithin Kamath.

The company, which is currently said to be working on a number of token products and the building of a decentralized exchange, will use the funds to further build its blockchain stack, launch new products, and make key senior hires to the team, it said in its announcement.

It further added that it is in the process of launching 108 Token, an ERC20 token built on top of Ethereum, that will dynamically re-adjust every month to the top 15 crypto token assets based on their proprietary indexing methodology. The firm’s tech platform initiatives are supported by a dedicated blockchain/crypto research and analytics division.

“SeedPlus has a view that blockchain and cryptocurrencies are creating new opportunities for the financial markets in the form of investable instruments such as tokens. In addition, we believe that platforms for startups or established companies to launch tokens will be a critical part of the internet infrastructure as well as the exchanges to manage their liquidity,” said SeedPlus partner Michael Smith Jr.

SeedPlus, which closed its $18-million debut fund last year, is a new investor in the company. The fund is backed by Jungle Ventures and counts Cisco, IFC, SGInnovate, Accel Partners, Indian business tycoon Ratan Tata-backed RNT Associates and Eight Roads.

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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.