Brand Capital Invests in Singapore-based Blockchain Startup

Asia Blockchain Review
July 2, 2019

Indorse Pte Ltd, a Singapore-based human resources tech startup, has received backing in the form of a US$6.5 million investment from Brand Capital, the ad-for-equity investment arm of media firm Bennet, Coleman and Company Ltd (BCCL).

As reported by VCCircle, Indorse utilizes its blockchain-powered platform to verify the skills, expertise and achievement of candidates seeking new roles, focusing initially on the coding segment.

Improving Appraisal Quality and Driving Down Costs

Brand Capital will invest an initial US$2 million in Indorse via convertible notes and has the option to invest another US$4.5 million. For its part, Indorse will use the funding to expand into India, while also increasing demand for its services using the Times Group’s local media assets.

Gaurang Torvekar, co-founder and CEO of Indorse, said the investment by BCCL will help it build out its brand and become a reliable source for employers looking to fill roles. He also said the company’s platform was improving the quality of candidate appraisal while at the same time driving down costs related to the hiring process.

Experts Verify the Skills of Blockchain Platform Users

Indorse, which was founded in 2017 by Torvekar, David Moskowitz, Dipesh Sukhani and Avadhoot Kulkarni, employs a team of experts to verify the skills of its platform’s users. The company had raised US$9 million that year and received a S$450,000 investment before that from UK-based Coinsilium Group Ltd in a seed funding round.

Instead of equity, Brand Capital gives ad space across BCCL’s publications, including The Times of India and The Economic Times. Times Internet Ltd, another BCCL unit, acquires stakes in tech companies in media and entertainment.

Source:  www.vccircle.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
China Races to Roll Out National Digital Currency
Following Facebook’s announcement of Project Libra, China has been more determined than ever to intr...

September 23, 2019

Crypto Exchange Hires Singapore Monetary Authority Veteran as Compliance Chief
iSTOX, a digital securities issuer and crypto exchange, announced that it has hired a 15-year vetera...

September 23, 2019

Isle of Man Issues First Token-Based Supplier License
Blockchain gambling platform FunFair has become the first company to be approved for a token-based s...

September 23, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us