Investments

Tri5 Ventures announces seed funding into Park N Parcel

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Park N Parcel, a Singaporean last-mile logistics startup, thinks it has the solution to this problem. It has just announced it received US$648,000 in seed funding from TRi5 Ventures and a group of angel investors last month.

Singapore's Park N Parcel raises $648k in Tri5 led round for Asia expansion

Singapore’s last-mile logistics startup Park N Parcel has raised a $648,000 seed funding round led by Tri5 Ventures and a group of angel investors. Park N Parcel allows users to have their online shopping haul delivered to registered residential and commercial parkers within a 1 km radius of their homes to be collected at their convenience. The startup has already built a pool of over 1,500 parkers in Singapore. The proceeds of the fresh funding will be used to strengthen the company’s core leadership team and for expansion into Thailand, Hong Kong and Japan by the fourth quarter of 2018, Park N Parcel co-founder Bryan See Toh said. Moreover, the team plans to expand its client base through partnerships with e-commerce platforms and logistics companies. Tri5 Ventures made the investment through one of its three funds, Singapore Seed Fund, that has earlier backed other startups such as Refash and Upcode Academy.

Read more at: https://www.dealstreetasia.com/stories/park-n-parcel-tri5-96438/

Russian neuroscience marketing startup raises seed funding from TRi5 Ventures, establishes in Singapore

SINGAPORE – NeuroTrend Pte Ltd, globally recognised neuroscience technology company, which originated from Russia, and will expand its global presence through Singapore, has raised an undisclosed seed round from TRi5 Ventures. NeuroTrend looks to partner with creative agencies and media companies to launch the first-of-its-kind next generation neuromarketing consumer insights lab to provide a deeper level of consumer insights for advertisers.

According to a recent study released by MAGNA, IPG Media brands' research arm, global advertising spends in 2016 was USD $493b, and USD $44.5b was spent on market research and the Asia-Pacific region is forecast to see a growth rate of 5.4 percent. Advertising agencies and broadcast media companies are now turning to data analytics to further deepen their engagement and effectiveness of advertisements.

Natalia Galkina, CEO, NeuroTrend Pte Ltd, says, “Over the recent past, neuro scientific technology has played a key role in helping companies optimise their marketing dollars. It is today considered a serious research area that is scientifically sound, genuinely interesting field in cognitive science, where the response to products and consumer decision-making is understood on the level of body and mind. We are confident that creative agencies and media companies in this region will benefit immensely from this new-age technology.”

Focus group respondents are analyzed via an Electroencephalography (EEG) headset, an eye tracker, a polygraph instrument and a facial reader camera. These non-invasive hardware are integrated to collect signals from the brain, eye movements, physiological measurements and facial expressions which are then sent to a server.

NeuroTrend will then analyse the data by its patented neuroscience complex software and algorithms enhanced by artificial intelligence, focusing on the parameters of interest, emotions, attention and memory. A report will then be generated which will advise the media company on how the advertisement, which could be print or video, can be optimised for maximum impact.

Christopher Quek, Managing Partner, TRi5 Ventures, says, “NeuroTrend is our first foray in investing in deep scientific technologies. We are impressed by the level of IP development that Natalia and her team of 50 scientists and researchers have done. NeuroTrend’s decision to be based out of Singapore is aligned to our investment goals of commercializing IPs via Singapore.”

About NeuroTrend Pte Ltd

Neurotrend Pte Ltd is the Singapore-based entity of JSC NeuroTrend (Russia), which holds the IP rights of all neuroscientific technologies for the company outside of the CIS countries.

Since its founding in 2011, JSC NeuroTrend (Russia), has provided over 1000 consumer insight reports to a large number of companies including several international brands. JSC NeuroTrend has over 50 specialists in all areas of neuromarketing including well known professors in neuroscience and senior PhDs etc as part of the team.

NeuroTrend Pte Ltd intends to expand rapidly overseas with a target of over 200 labs in all the major cities within the next four years via partnerships with advertising agencies and media companies.

NeuroTrend will also establish a research and development lab in Singapore to develop its neuroscience capabilities, as well as an analytics lab of engineers and scientists to support its Russian facility in generating consumer reports for clients.

 

About TRi5 Ventures

TRi5 Ventures is a Singapore-based early-stage Venture Capitalist that actively supports and grow startups in commercializing IPs and expanding globally via Singapore.

Ho Chi Minh City-based CoderSchool Raises Seed Funding to Train Developers in Vietnam

HO CHI MINH - CoderSchool, established in Ho Chi Minh City by Silicon Valley founders in 2015, has raised anundisclosed seed funding round from Singapore-based Tri5 Ventures to train and upskill world-class software developers in the emerging Vietnam tech scene.

The funds will be used to relocate to a larger campus in Ho Chi Minh, grow the business and instruction team, as well as expand to other Vietnamese cities of Hanoi and Danang. CoderSchool aims to train and place a target goal of 1500 developers in the 3 major cities, Ho Chi Minh, Hanoi, and Danang in the next 3 years.

According to a VNExpress article, the number of tech jobs have risen over the last three years. Vietnam currently employs 250,000 engineers and the estimated demand estimated is expected to be 400,000 by 2018. A survey showed a 2-year experienced engineer is estimated to earn a maximium of US$1,160 per month and looks set to rise further.

The Vietnamese startup ecosystem is growing at an accelerated pace. In a recent report by Vietnam Briefing, 39,850 new startups were incorporated in the first four months of 2017 alone. The Saigon Silicon City Center will be a startup hub to incubate startups and expected to attract over US$1.5b in investments by 2020. The fintech industry has also received US$129m in investments.

CoderSchool is founded in 2015 by Charles Lee and Harley Trung, two computer science graduates who hail respectively from UC Berkeley and Yale in Silicon Valley. Since then, the school has conducted 23 programming cohorts with 312 graduates.

Charles Lee says, “There’s an obvious global shortage of engineers, but it is even more pronounced here in Vietnam due to strong demand from overseas. Vietnam may be the best place in the world to find hardworking, talented young engineers. Salaries are rising but are still dramatically lower than other parts of the world.

TRi5 Ventures is a believer of training programmers to support the growing needs of startup ecosystems of the region and world. Their investment and experience in programming schools will be strategic in aiding us to grow. Furthermore, their deep connections into the regional startup tech communities is a bonus to provide our world-class graduates with world-class jobs.”

CoderSchool alumni have gone on to work at leading tech companies such as Uber, Grab, Fossil, TinyPulse, Lazada, Okiela, Sentio, Saleshood, Zalora, Mingle, Wizeline, 2359 Media, and Silicon Straits.

Mr Ting Yan LECK, Investment Director at Tri5 Ventures, explains the investment into CoderSchool. “Vietnam is a known hub for companies in Singapore, Australia and other countries to outsource software development. This has significantly increased the demand for advanced software engineers. CoderSchool has built a good reputation in Vietnam for training over 300 programmers in 23 classes. We believe the school is poised to take advantage of the growing opportunities in the programming schools sector.”

CoderSchool Intro Video -[embedyt] https://www.youtube.com/watch?v=vnbT8xiBDWI[/embedyt]

Media Contact Anh Hoang Partnerships Director anh@coderschool.vn +84 898 158 690 (Vietnam)

About CoderSchool (Coderschool.vn)

Coderschool is founded in 2015 by Charles Lee and Harley Trung, two computer science graduates who hail respectively from UC Berkeley and Yale in Silicon Valley. Since then, the school has conducted 23 programming cohorts with 312 graduates. CoderSchool alumni have gone on to work at leading tech companies such as Uber, Grab, Fossil, TinyPulse, Lazada, Okiela, Sentio, Saleshood, Zalora, Mingle, Wizeline, 2359 Media, and Silicon Straits.

CoderSchool’s curriculum, originally developed in Silicon Valley, is based around real-world examples, multi- modal learning, and carefully-spaced repetition. In addition to several weeks of discussion, lecture, and hands- on lab time, students spend much of their time building real-world applications from scratch.

Applicants to Coderschool are required to pass a rigorous selection process to be admitted, and must exhibit strong teamwork skills in addition to individual technical excellence. CoderSchool focuses on imparting developers with the skills and working styles of global tech startups with development teams based in Vietnam as well as other large MNCs. CoderSchool has taught courses in web development Ruby on Rails, NodeJS and mobile development in iOS, Android and React Native. In addition to regular Demo Days, which have seen as many as 500+ attendees per event, CoderSchool hosts regular meetups for the community featuring guest speakers on exciting new technologies and topics, such as Data Science, Machine Learning, Artificial Intelligence, Cloud Microservices, Chatbots, and even Electric Vehicles

About TRi5 Ventures Tri5 Ventures is a Singapore-based early-stage Venture Capitalist which invests in South-East Asian technology startups. It has recently made a US$220k investment into UpCode Academy, a Singapore-based programming school.

A Singaporean coding school is turning engineers into teachers, raises funds from Tri5 Ventures

UpCode Academy, a coding school in Singapore that sources technology professionals as teachers, announced today it has raised a S$300,000 (US$220,000) seed round from Tri5 Ventures. The company has previously been backed by 500 Durians — the Southeast Asia-focussed fund from 500 Startups.

The money will be used to build its classrooms and acquire more students and teachers.

The company is also working on an online platform so people can crowdsource the best professors and the classes they want. This product is expected to be launched in January 2018.

Also Read: Thai logistics startup GIZTIX raises Series A funding round

UpCode Academy was started in September 2017 and has run 16 courses for over 300 students. The types of classes it runs are in the following genres:

  • Data Science and Machine Learning
  • Hardware Engineering
  • Deep-Tech: Clean Energy and Med-Tech
  • Fintech
  • Web and Mobile App Programming
  • Cybersecurity

What makes UpCode Academy unique as a coding school is it does not employ full-time teachers. Instead, the company uses current working professionals to teach students.

The goal of this strategy is to make sure the engineering being taught are on the cutting edge of industry standards. The company is currently working with Google, Airbnb, Grab and Carousell.

UpCode Academy was started by ZP Lee — a college dropout who built 40Tasks, a mCommerce platform that rode the wave of Singapore’s flash deals trend from a few years ago. Lee is a self-taught coder who is now capable enough to lecture part-time at Singapore Polytechnic and Singapore Management University.

“I’m someone who jumped into tech without any formal education background. I understand the fears of many people similar to me. But believe me, the rewards and fulfillments of working in tech is worth the effort,” he said in a statement.

Tri5 Ventures previously invested in 40Tasks.

Also Read: In building businesses, Platform E puts the focus on entrepreneur and vision

Universities, while they seem to understand the importance of teaching code, oftentimes move too slowly to provide students with hire-ready skills upon graduation.

“We see many graduates leaving schools without any tech skill sets relevant to companies. Even current tech professionals feel their skill sets aging because of the rapid changes in the industry. Companies are willing to pay big bucks to look for talents with in demand skill sets, such as data science and machine learning,” said Lee.

Tri5 Ventures is a VC based in Singapore that targets angel and seed-stage companies in Southeast Asia.

This article first appeared on e27.

Making life easier for insurance agents with Surer         

The general insurance industry in Singapore handled over S$4b in value of insurance premiums in 2016, with an estimated 10,000 intermediaries involved. But Derren Teo was surprised to discover that the sizeable industry has not caught up with the technological age.

He shares, “For such an important industry, intermediaries were still relying on excel spreadsheets to track insurance policies. Furthermore, they communicated via whatsapp with haphazard tracking of discussions, and stored data in their hard disks which were at risk of loss with no backup.”

Derren is no stranger to the insurance industry and faced similar pain points. He worked over nine years of insurance experience in sales, business development, claims and underwriting working in AIA, AIG, MSIG and QBE. He saw how the keystone of the industry, its intermediaries or more commonly known as agents or financial advisors, were thoroughly under-served and overworked.

In 2015, Derren spoke to peers who agreed a management system was needed to improve productivity. However, there has been no solution that truly solves the issues for the intermediaries.

After two years of awaiting for such a solution to appear, Teo decided the solution was unlikely to come unless he stepped up to build it.

New beginnings

Gordon Tay was Derren's long-time buddy from junior college, where both shared a common dream to make a difference in the world during their younger years.

Coincidentally, when Derren left his job to build on the idea, Gordon and his brother, Renfred had both just quit their jobs to find new purposes in their lives as well. Gordon was a seasoned B2B marketing professional while Renfred was in finance.

Derren took the opportunity to articulate his passion to serve the intermediaries of the insurance industry. Together with his two newfound co-founders, the beginnings of Surer was born.

What Surer is all about

“Surer is a market-first, web-based business, customer management and resource sharing system that harnesses the power of technology to enhance productivity of some 10,000 agents and financial advisors in the general insurance industry,” explains Gordon, who spearheads the marketing efforts.

“We see that Surer will be the holistic insurance tech solution that agents and financial advisors will come to rely on for improved efficiency and productivity.

“The system will help digitise manual tracking work, simplify and systemize rudimentary processes and facilitate networking and resource sharing. This will allow agents and financial advisors to be able to pitch better and close faster. Most importantly, for them to be 'surer' about the way they run their business.”

As the CEO, Derren takes a step further. “I see Surer to be such a trusted centralised system that it can act as the 'guardian' of insurance industry, facilitating a triple-win situation where greater transparency will be provided to policy holders, better commissions can be brokered for intermediaries and the industry can be empowered with greater insights. Surer will be the insurance for insurance.”

Surer is the first investee by TRi5 Ventures under the SG Founder co-investment grant scheme by SPRING Singapore.

Tri5 Ventures unveils S$5m fund for Singapore ICT startups

A NEW S$5 million fund for Singapore seed-stage infocomm technology (ICT) startups has been launched this year, by new venture capital kid on the block Tri5 Ventures. Pronounced Thrive Ventures, the fund is backed by Far East Ventures - of Far East Organization - and Christopher