SINGAPORE (Oct 30): Reefknot Investments, a Singapore-based global joint venture between Temasek Holdings and Kuehne + Nagel, has made its first strategic investment in UK-based artificial intelligence company PROWLER.io.
Reefknot Investments is a global fund that invests in high growth technology companies within the supply chain and logistics space. This fund provides not just financial support, but also leverages on its ecosystem of partners to support the companies with the necessary domain or technical expertise.
Valued at US$100 million ($136 million) following its most recent round of investment led by Tencent Holdings, along with participation from SGInnovate and Atlantic Bridge, PROWLER.io utilises AI to help turn dynamic, real-time data into optimal decisions about business problems.
The startup was founded in 2016 and is the first portfolio company Reefknot Investments is committing to as part of its US$50 million fund which closed earlier this year.
Other domains the fund is actively exploring opportunities in include Digital Logistics and Trade Finance. In particular, the latter sector is where Reefknot is currently seeking transformative startups developing integrated digital platforms which leverage not only financial and transactional information, but also unlock the value in supply chain and logistics data to enable timely funding to under-served companies earlier in the pre-shipment cycle.
Marc Dragon, Managing Director of Reefknot Investments said, “We are excited about supporting the application of PROWLER.io’s leadership in using its data-efficient AI techniques to feasibly tackle longstanding challenges in the supply chain and logistics industry. PROWLER.io’s AI platform and capabilities will greatly enhance decision-making in complex and uncertain environments that represents the type of transformational technologies Reefknot is committed to support in order to drive supply chain and logistics sector innovation.”
