Infocomm Investments has emerged as one of the investors in US-based software start-up Quid’s recently announced $10m series C round of funding.
Infocomm Investments acts as the venture capital unit of the Infocomm Development Authority of Singapore, a government statutory board set up to oversee Singapore’s development in the information and communication sectors.
Additional investors in the round were the UK-based venture capital (VC) firm Atomico Ventures, US-based VC firms SV Angels and Founders Fund, Switzerland-based VC firm Endeavour Vision, and Korean angel investor Charles Lho.
Founded in 2009, Quid’s software allows users to locate, map and visualize large amounts of data to track trends in research and development. Quid had raised $4m in its earlier rounds with Lho and Peter Thiel, of Founders Fund, among its early investors.
Quid plans to use the capital to develop its visual interfaces, hire additional staff and expand its data to include supplementary streams.