Temasek-backed Reefknot Investments invests in AI startup Prowler

Reefknot Investments, a Singapore-based joint venture between Temasek and Swiss logistics firm Kuehne and Nagel, has injected funds into UK-based AI company Prowler.io. The move marks Reefknot’s maiden investment since launching its US$50 million fund last month.

Photo credit: Prowler

Established in 2016, Prowler leverages AI to help users use real-time data for business decisions. Its proprietary platform, Vuku, can be used to manage logistics decisions, allocate resources, and make financial decisions in asset management. The company claims it uses a unique approach to problem-solving, combining mathematics, engineering, and economic theory.

According to a statement, Prowler reached a valuation of US$100 million following a series B funding round in May. At the time, it raised US$24 million from investors such as Tencent, SGInnovate, and Atlantic Bridge, among others.

Reefknot said it is actively exploring opportunities in other areas such as digital logisitcs and trade finance. It’s especially seeking startups in trade finance developing digital platforms that enable timely funding to underserved companies earlier in the pre-shipment cycle.

With its US$50 million fund, Reefknot is looking to invest in six to eight startups globally, with a focus on series A and B opportunities.

Recently, the investment firm also launched the Centre of Excellence for Global Emerging Supply Chain Technologies (GESCT), a think tank for the supply chain and logistics industry. GESCT members include SGInnovate founding CEO Steve Leonard and Simon Fich, head of global corporate development at Kuehne and Nagel.