Singapore, 18 Dec 2020– BRDA has received an additional US$650k funding from an angel investor, on top of US$850k of funding provided in the pre-seed round, to help propel BRDA further into the telco and energy sector in Asia.
A test pilot for BRDA Legion, a core product of the company, has successfully taken place earlier in the year. From toll data that possess billions of lines of past transactions and over 25 million lines of daily transactions, BRDA was able to develop several data products, such as a logistics company risk assessment product for financial institutions and vehicle insurance products for the insurance sector.
Transforming a single data stream into different products for various industries is not an easy task in general. In fact, BRDA is looking at doing so across different countries in Asia, to bridge the information gap that can bring about massive business opportunities and growth in Asia. BRDA has also received support from A*ccelerate, A*STAR’s research commercialization arm, in its business roadmapping efforts as well as licensed the Modstore.ai platform from the Institute of High Performance Computing (IHPC) to complement its data analytics tools.
BRDA is not afraid of taking large strides in its infancy towards other sectors like energy and telco. With the additional funding, BRDA will be in a good position to confidently do so.
“Having successfully test-piloted our core product, BRDA Legion, for a nationwide toll data in the region, we are now in talks with companies in Asia from the telco and energy sector to see how we can continue this momentum to bring a little more data magic to help propel their growth. Having an additional injection of $650k will allow us to engage those new sectors,” said Mr. Andy Low, Co-Chief Executive Officer of BRDA.