Myanmar’s search technology startup Bindez secures six-digit USD round from Vulpes Investment - Reuters

 

Myanmar’s search technology startup Bindez secures six-digit USD round from Vulpes Investment

Myanmar’s search technology startup Bindez secures six-digit USD round from Vulpes Investment

Thu Sep 7, 2017 - 05:00am UTC

Singapore’s Vulpes Investment Management Pte Ltd (VIMIC) has announced an investment in Bindez, a search engine and discovery platform based in Yangon.

Following this funding, VIMIC’s adviser Rita Nguyen will also join Bindez’s board.

For Vulpes, this will be the company’s third equity investment in Myanmar after sealing two seed investments in logistic startup Kargo and online freelance job platform Chate Sat using its tech-focused VC fund .

“The potential for harnessing the great technology which Bindehas already built is massive and will be transformative in Myanmar’s emerging technology story. We are very excited to be part of their future growth,” said VIMIC.

Providing a localized solution, Bindez uses natural language processing and machine learning technologies for easy access to data and content which are created in Burmese.

The search technology startup currently owns two products:

    – Bindez Thadin: a B2C content discovery platform where people can access the latest Burmese news
    – Bindez Insights: a social media monitoring product that helps understand market trends and insights

Launched in 2014, the startup is also the first Myanmar startup to have raised a seed and angel investments from international investor 500 Startup.

Yewint Ko, the Co-founder of Bindez said, “Bindez is a mix of linguistic data and machine learning capabilities. It is helping brands to overcome long-time Burmese language issues.”

This includes font compatibility to better understand their customers and how their brand is being perceived online.

“Because of this, we are seeing a real demand for our products more so than ever before. This investment from VIMIC will allow us to scale up the business to meet this growing demand.”

The startup also claims to be the only social media listening tool specific to the Myanmar market, with its news aggregation app reaching a million downloads and 2 million page views per month.

For content enquiry, please reach us at

Latest News >

iPrice Group to raise new funding led by LINE Ventures

This fresh funding round is led by LINE Ventures, the corporate venture arm of Japan’s LINE Corporation.

04:54am UTC

IFC may extend US$120 million loan to Temasek-backed Olam International

Olam is a leading agribusiness operating across the value chain in 70 countries.

04:47am UTC

Dymon Asia PE to close second Southeast Asia fund at US$450 million

The new fund has attracted a large contingent of international investors including sovereign wealth funds, insurance companies and banks, family offices and professional asset managers.

06:16am UTC

AI Group seeks listing on the NSX to accelerate growth in investment portfolio

Singapore’s Vulpes Investment Management Pte Ltd (VIMIC) has announced an investment in Bindez, a search engine and discovery platform based in Yangon. Following this funding, VIMIC’s adviser Rita Nguyen will also join Bindez’s board. For Vulpes, this will be the company’s third equity investment in Myanmar after sealing two seed investments in logistic startup Kargo […]

08:45am UTC

Asia recruitment startup GetLinks to raise funding from SEEK, Alibaba Entrepreneurs Fund

GetLinks previously raised US$500k in 2016, and later added US$150k more to that round.

08:32am UTC