Willowmore Pte Ltd, a Singapore-based smart access, internet of things (IoT) and analytics technology company, has on Wednesday announced the successful completion of its Series A+ funding round.

The funding round was led by Oriza Greenwillow Technology Fund, a venture capital fund set up jointly by Greenwillow Capital Management Pte Ltd, an MAS-licensed fund management company based in Singapore, and Oriza Holdings, an investment firm from China, Willowmore said in a statement.

The round also saw investment from SEEDS Capital, Enterprise Singapore’s investment arm.

This latest capital injection will accelerate the company’s growth and drive the development of innovative technology solutions.

This latest funding round will also help Willowmore further expand market presence and strengthen its position as a leading provider of smart access, IoT and analytics technologies.

With Series A+ funding now complete, Willowmore also plans to use the proceeds to grow our sales team, ramp up sales channels in new markets, make additional research and development (R&D) investment to expand its product range of smart locks and security solutions, and further strengthen its artificial intelligence (AI) capabilities.

The investment from SEEDS Capital allows Willowmore to expand its footprint in Singapore by delivering value to major critical infrastructure players and small and medium-sized enterprises (SMEs) alike, helping them drive automation and operational efficiency, while delivering cost savings and sustainability.

“We are thrilled to partner with Greenwillow and SEEDS Capital, investors who share our vision and commitment towards driving continuous innovation and creating even better products,” said Ng Joo Hee, Chairman of Willowmore Pte Ltd.

“This new investment will let us accelerate the growth of our company and bring our innovative solutions to many more customers,” he added.

According to the statement, Willowmore produced a strong performance in 2022 with its new WMSenseHub 2.x platform, which integrates smart access technology with sensors and CCTV systems.

The offering was adopted by critical infrastructure players in both Singapore and Indonesia.

Together with several innovative partners and end-users, Willowmore has also developed a strong pipeline of new hardware and software solutions that will be released in 2023.

Willowmore has also announced that the firm has been renewed under the Accreditation programme by the Infocomm Media Development Authority, Singapore (IMDA) in 2023.

This renewal motivates the firm in its continued commitment to drive innovation and excellence in Singapore’s information and communications technology (ICT) industry.

Since its inception in 2014, the IMDA Accreditation programme has been instrumental in accelerating the growth of Singapore-based enterprise tech product companies and ICM start-ups through winning contracts with government agencies and large enterprises, as well as facilitating new growth capital into the companies.

As an IMDA Accredited company, Willowmore will aim to deliver innovative and effective ICT solutions to its clients, bringing about its commitment to excellence and its ongoing efforts to stay at the forefront of the ICT industry.

“Willowmore’s patented technology is able to integrate with sensors, CCTV systems and video analytics to potentially drive automation without compromising security and reliability of critical infrastructure,” said Tan Kaixin, General Manager at SEEDS Capital.

“We are happy to support innovative Singapore companies like Willowmore as they continue research and development efforts and push technological boundaries,

“Through tapping Enterprise Singapore’s global networks, we also aim to help Willowmore expand its international footprint to new markets like Malaysia and Australia.,” he added.

As the investment arm of Enterprise Singapore, SEEDS Capital catalyses smart investments into innovative Singapore-based early-stage startups with strong intellectual content and global market potential.

It adopts a co-investment model, working hand in hand with institutional investors from around the world.

Leveraging its collective expertise and networks, SEEDS Capital helps startups commercialise, realise their business development plans and expand globally.

It focuses investments into emerging and strategic sectors aligned with national priorities, including manufacturing, trade and connectivity, human health and potential, urban solutions and sustainability, and smart nation and digital economy.

As for Oriza Greenwillow Technology Fund, it invests in early-stage technology start-ups in Singapore and the fast-growing markets of Southeast Asia, with a primary focus on the smart cities and health-tech sectors.

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