Kark Mobile Education Pte Ltd, one of the startups being incubated at JFDI Singapore, has announced today that Ideosource – a Jakarta-based investment firm incorporated in the British Virgin Islands, has invested an undisclosed sum to fund development of a new product. The product, also tentatively called Kark, is a tablet-based edutainment platform for 5-12 year olds based on simulation and interactivity triggered by collectible cards.
“We are delighted to have this support, which gives us the ability to continue building our product after the bootcamp and reinforces what we have believed all along– that games have a great future in the educational industry,” said Bullitt Sesariza, Founder and CTO of Kark Mobile Education Pte Ltd. “We will be unveiling our exciting new product aimed at the family education market shortly.”
Andi Surja Boediman, Director at Ideosource, commented “Ideosource always invests in innovative products and companies,and we think Kark is a good innovation in digital industry. That is why Ideosource is investing in Kark and will continously support Kark in many ways.”
The JFDI–Innov8 Bootcamp is the first digital startup business accelerator in the Asia Pacific region to apply a model pioneered and proved successful by organizations including TechStars and Y-combinator in the USA. Bootcamp participants are provided with S$15,000, intensive mentorship, workspace and the chance to pitch to international investors at the end of 100 days. The bootcamp is operated by JFDI.Asia Pte Ltd, a member of the Global Accelerator Network.
The investment follows Kark Mobile Education Pte Ltd’s participation in the JFDI–Innov8 2012 Bootcamp. Kark is the first startup participating in the bootcamp to receive such investment, ahead of the bootcamp Demo Day which will attract 100 investors from the region.Cofounder of JFDI.Asia Wong Meng Weng said, “We’ve been impressed with Kark since we first met the team in Jakarta. This investment, coming before the official Demo Day, is proof of the progress the startup has made since joining us in Singapore a couple of months ago.”