Singapore’s Sphere raises $340k seed from Start Up Nation, Start Global Ventures

F&B-targeted point-of-sale (POS) system integration company Sphere has raised seed round of S$340,000 in a seed round facilitated by private investment platform, Fundnel. The investors participating include Start Up Nation and Start Global Ventures, the Singapore company said in a statement.

Sphere said the funds will be used to grow the marketing and sales team in Singapore and in Malaysia, where it hopes to expand next year.

Start Up Nation is a Singapore-based early-stage startup investor with an accelerator arm. Start Global Ventures is a private angel fund based out of Malaysia, an executive from Fundnel told DEALSTREETASIA.

Sphere currently offers a low-cost solution handling advanced menu ordering, table management, and basic staff management functions. Going forward, it seeks to develop an easy and affordable way for restaurants to integrate data across multiple systems.

By bringing together F&B solutions from partner apps, Sphere hopes to help F&Bs simplify their operational workflow while reaping the benefits of multiple services through integration.

“There are a lot of amazing apps and services out there targeted at addressing retail and F&B pain points, such as Reservation, Loyalty Programme and Mobile Waiter apps. Unfortunately, it’s very difficult for F&B owners with limited staff resources to manage multiple systems and provide good service at the same time. Our goal is to become a platform for our app partners,” founder Christopher Cai said.

Sphere is founded by Cai, a seasoned developer whose products include Viddsee, a local video-curation startup, and Timothy Han, a familiar name in the local F&B industry and director of Palm Beach Seafood.

Cai is among the core team that make up Start Up Nation, according to website details.

Start Global Ventures general partner Dharmanandan Sai commented that his investment decision was driven by Sphere’s exceptional back-end integration infrastructure and development team.

“Our private investment fund has invested in a number of businesses via the Fundnel platform and we were especially impressed at the professionalism of the Sphere team. We will be able to add immediate value to Sphere via our other portfolios in the integration space,” he said.

Sphere’s existing client base spans different F&B types, including Yee Cheong Yuen Noodle Restaurant, a small full-service Chinese restaurant, several cafes and a bespoke bar.

Also read:

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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.