Kickstart invests in future of data, logistics, media for Philippines development goodnewspilipinas.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from goodnewspilipinas.com Daily Mail and Mail on Sunday newspapers.
Transcelestial, the Singapore-based company building the future of Superfast Global Internet Distribution, on Friday, (Feb. 19) announced it has closed a strategic investment of US$2 million from Kickstart Ventures.
The company, recognized for its Most Disruptive Technology, is expected to boost internet penetration in the country and provide telcos and Internet Service Providers (ISPs) with an affordable option for 5G deployment.
The Transcelestial investment was the first publicly announced infusion by Kickstart Ventures from its USD 180 million ACTIVE Fund backed by Ayala Corporation, with several subsidiaries participating – AC Energy, AC Industrials, AC Ventures, BPI, and Kickstart’s parent company, Globe Telecom.
Singapore start-up enters Philippines market
February 19, 2021 | 5:57 pm
The Ayala Corp. fund for startups will inject $2 million into internet distribution technology from a Singapore-based company, venture capital firm Kickstart Ventures Inc. announced on Friday.
Kickstart manages the $180-million fund under the Ayala Corporation Technology Innovation Venture (ACTIVE) from Ayala Corp., its subsidiaries, Bank of the Philippine Islands, and Kickstart parent Globe Telecom.
The first publicly announced investment under this program will go to Trancelestial Technologies, which plans to use its Centauri device to create a wireless internet distribution network in the country.
“Transcelestial aims to work with Philippine telcos among others to provide a solution to the daunting industry challenge of putting up cell sites,” Kickstart said in a press release.
By TED CORDERO, GMA News
Published February 19, 2021 11:34am Singapore-based technology startup Transcelestial Technologies is entering the Philippine market with a $2-million investment it secured from an Ayala-led venture capital fund. In a statement on Friday, Transcelestial said it aims to work with Philippine telcos to provide a solution to the daunting industry challenge of putting up cell sites. The tech firm will be offering its proprietary device, CENTAURI a shoebox-sized device weighing less than 3 kilos capable of delivering fiber-like speeds to customers at fraction of the cost of traditional fiber. Transcelestial said CENTAURI, is a mass-produced network device which leverages the company’s proprietary Wireless Laser Communication Technology to create a wireless distribution network between buildings, traditional cell towers, street-level poles and other physical infrastructure.
Published December 15, 2020, 1:05 PM
More than 10,000 people attended the recently held Philippine Startup Week 2020 (PHSW20), making it the largest startup virtual conference in the country. With the theme, “Filipino Startups Powering Up the New Normal,” PHSW20 made history as it brought together startup founders, startup enablers, techpreneurs, investors, government stakeholders, and thought leaders from across the country and beyond in one virtual stage from November 23-27, 2020.
The 5-day conference was made possible through the joint collaboration of the Department of Trade and Industry (DTI), Department of Science and Technology (DOST), Department of Information and Communications Technology (DICT), QBO Innovation Hub, with support from 917Ventures, AWS, Investing in Women, Microsoft, Youth Business International, Google.org, PHILEXPORT, TeamAsia, Paymongo, PLDT Global, Prosperna, and Credit Information Corporation and 61 community partners.