Singapore's EDBI joins $42m round for US-based Puppet
Singapore’s EDBI has joined a $42 million funding round for Puppet, a US-based creator of software development and operation tools, with the goal of driving expansion in Asia.
Cisco Investments led the round, with participation by KPCB, True Ventures, and cloud technology developer VMware. In addition to its global growth plans, Puppet will use the new funding to expand its portfolio and seek new acquisition opportunities.
Puppet specializes in tools for automating DevOps, a branch of enterprise IT involving products and practices for the building and testing of software. The company aims to reduce the time required for software developers to deploy new products and services to enterprise users, with products targeting every domain of enterprise IT including infrastructure, applications, cloud, containers and networking devices.
"In today's digital age, companies face increasingly complex IT challenges dealing with their dynamic and diverse IT infrastructure," said Swee-Yeok Chu, CEO and president of EDBI, in a statement. "Puppet's automation and management platform transforms how companies manage and improve the efficiency of their IT assets and can help companies in Singapore realize productivity gains while ensuring compliance."
EDBI is the investment arm of Singapore's Economic Development Board, and targets companies in the financial technology, data analytics, information security and software infrastructure sectors. It has backed several US-based technology firms with plans to enter Asia, including flying taxi start-up Joby Aviation and virtual reality technology developer Lytro.
More on Southeast Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.