Augmenteed, a Singapore-based startup that offers industrial companies an online process management platform to deploy optimized and automated procedures, is in talks to raise USD 450,000 funding.
“We are currently in talks with seed-stage VC firms, angels, and family offices based primarily in Southeast Asia. We are targeting seed-stage investors focusing on B2B enterprise SaaS and industrial tech.” – Augmenteed Co-founder Patni.
According to Augmenteed the funding will be used to hire a developers’ team in Singapore. “Our second area of capital deployment is business development. Although this is somewhat constrained by COVID-19 as most trade shows have been canceled or made virtual, we know a well-defined and aggressive sales pipeline will help us attain the targeted growth.” – Patni
Augmenteed was established in April 2019 by Patni and Erwan Bodescot. The company has built a solution that can digitize workflows and improve the skills of local engineers with augmented reality and remote assistance.
Augmenteed is also planning to expand to other countries, including Hong Kong, South Korea, Germany, and Japan.