Singtel Innov8 funds group buying platform company Dealised

Singtel Innov8, the venture capital arm of Singapore’s largest telecomms company, is participating in a US$6.5 million (S$7.97 million) Series A investment in Dealised, an Australia-based company that provides a group buying platform solution to third-party websites. Australian VC firm Yuuwa Capital is also involved in this round of funding.

Dealised was founded in late 2009 to support Spreets, an Australian daily deals site. Their other clients include SweetDeal in Denmark and Telegraph Selected in the United Kingdom. Their group-buying platform is a white-label product, meaning it allows other companies to rebrand their technology and integrate it within their own websites. They also have support for mobile deals and merchant administration.

The company also said that their regional Asian headquarters in Singapore will be used to push global business expansion and generate mobile group-buying innovations.