Local IT Startups Get Funds To Expand Into South-east Asian Market

Mr Shamir Rahim: Believes that VersaFleet can help modernise the way fleets are managed locally

LOCAL IT startup Sypher Labs has received S$589,000 in seed funding for its star product, logistics software VersaFleet.

This round of funding is spearheaded by Singapore-based incubator firm Get2Volume with co-funding from Singapore’s National Research Foundation, under its Technology Incubation Scheme.

The funds that Sypher Labs receives will be channelled into scaling up VersaFleet, and will help it to enter the South-east Asian market, specifically Indonesia and Thailand.

VersaFleet, a fleet management software for land transport vehicles, uses a cloud-based central operations portal to get operators to modernise the way they manage their fleet.

Source: http://www.businesstimes.com.sg/premium/singapore/sypher-labs-gets-s589000-funds-logistics-product-20140819