Enterprise social network startup Sambaash gets US$1.64M from Exstream and Stream Global

Sambaash, a Singapore-based startup which creates online communities for businesses and organizations through established social media platforms, announced today in a press release that it has raised S$2.1M (US$1.64M) from two Singapore-based investors: Extream Ventures and Stream Global.

The startup’s solutions cover a wide range of industries, including travel, fashion, creative, healthcare, education, research, conferences and events, as well as professional communities.

It was started in 2009 by a “team of highly experienced business and technology professionals who have successfully provided business solutions across Europe, the Middle East, Asia Pacific and Australia for more than 20 years at leading global enterprises.”

The funds will be mostly used for market expansion and business development in Asia Pacific and Europe.

Extream Ventures, formed in 2008, is an early-stage venture fund focusing on technology firms in Asia in the areas of communications, IT software and solutions, interactive and digital media (IDM), and disruptive technology. It is jointly funded by the Singapore government’s National Research Foundation.

Stream Global is a venture catalyst that nurtures startups in the information and communication technologies (ICT) and interactive digital media (IDM) spaces.