Nitrous.IO (formerly Action.IO), a Singapore-based startup that makes setting up an Integrated Development Environment a snap, has just announced a USD 1M round led by Silicon Valley based Bessemer Venture Partners.
Draper Associates, CrunchFund, 500 Startups, TIBCO Software, Facebook co-founder Eduardo Saverin, Singapore’s Golden Gate Ventures, and Peanut Labs co-founder and CTO Prosper Nwankpa also participated in this round. According to Golden Gate Ventures partner Vinnie Lauria, his firm put in less than USD 50k in this round, which was closed third-quarter of last year. Read more
Update: Applications for JFDI.Asia Bootcamp, held from 14 February to May 2013, are now open. Deadline is 14 December.
The frog is croaking again. After months of relative peace, where they were quietly laying the groundwork, JFDI.Asia is ramping up for a second helping of their signature accelerator program in Singapore — the JFDI.Asia Bootcamp.
Major changes are afoot. First up, teams that are selected for the program will be getting more seed money — SGD25k (USD20.5k) instead of SGD15k (SGD12.3k) to be exact — to test out their ideas and develop prototypes.
Second, Golden Gate Ventures (GGV) will feature more prominently in this round, after they announced today a new “alliance” that will see the firm’s three partners, Vinnie Lauria, Paul Bragiel, and Jeffrey Paine, join the accelerator as mentors. Only Vinnie was a mentor for the first run. Read more
Builk is the winner of this year’s Echelon Launchpad. The Thai startup is a professional social network for the construction industry that doubles as a construction management web app.
Ten startups each had their turn in the cauldron at Echelon 2012′s pitch competition. Definitely a highlight among attendees, the Launchpad had put startups under the intense spotlight as they pitch and try to impress both the sophisticated crowd and inscrutable judges.
During Builk’s pitch, principal and co-founder Patai Padungtin shared that 1,400 construction firms have already registered with Builk since their launch in 2010.
The eight incubators are: Get2Volume, Golden Gate Venture Investments, Incuvest, Jungle Ventures, Red Dot Ventures, The Biofactory, The Network Fund (TNF), and WaveMaker Labs. Full details in the press release.
Under TIS, the NRF will co-fund up to 85 percent of total investment per company, or up to S$500k (US$400k), with the rest topped up by the venture firm. Only Singapore-based startups need apply.
The incubators can choose to buy out NRF’s equity share within three years of investment, at a price of 1.1 times capital in the first two years, and 1.15 times capital in year three.
Born in 2006, the NRF dictates the country’s direction for R&D by developing national policies and planning strategies for innovation, enterprise, and research. Read more
“Backed by i/o Ventures, a well-known Silicon Valley startup accelerator, Golden Gate’s partners, investors, and mentors originate from the Silicon Valley and all around Asia.
Vinnie co-founded Lefora, a forum hosting service that was later acquired. He’s also the organizer of the SuperHappyDevHouse in Singapore, a premier hackathon event that originated from Silicon Valley.
Jeffrey is the co-founder of Battle Ventures, a technology incubator in Singapore with a portfolio across Asia. He also started the Founder Institute in Asia, which has graduated over 40 companies so far.
Providing the support network from Silicon Valley is Paul Bragiel, co-founder of multiple successful companies, including i/o Ventures. He travels frequently to Asia.”
Backed by i/o Ventures, a well-known Silicon Valley startup accelerator, Golden Gate’s partners, investors, and mentors originate from the Silicon Valley and all around Asia.
The size of the fund is around US$10M, and investments will range from US$50,000 to US$500,000.
The company’s logo is a stylized bridge, and that is what it hopes to become — a bridge between the well known technology hub and Asia. The most promising teams from the Golden Gate program will get a chance to work in San Francisco for one to two months each semester. Read more