SingTel Innov8, the corporate venturing unit of Singaporean telecommunications, has partnered with TNF Ventures, an incubator under the Technology Incubation Scheme of Singapore’s National Research Foundation, which led a $570k round of seed funding round for Singapore-based travel website Flocations. There was also involvement from angel investor Ben Ball.
The new funds will be used to enhance its travel discovery service in Asia.
Co-founder of Flocations, Tudor Coman, said: “This is an extremely exciting step for Flocations as this funding allows us to launch our new feature set that combine both hotels and flights into one price, in addition to the continuation and finance of operations across Asia Pacific. This means users can search for a whole vacation just by putting in their price and also lets them discover places they never even thought of within seconds.”
Earlier this year Flocations raised $12k as one of the 11 companies which received investment from the incubator JFDI Asia bootcamp in which SingTel was lead sponsor. The JFDI-Innov8 2012 Bootcamp is a 100-day programme which gives digital start-ups $15k and mentorship from industry executives plus access to mobile markets and investors across Asia.