HiLife Interactive, a Singapore-based smart living company announced raising S$8 million ($5.9 million) in a Series A funding round that will finance its planned expansion in Southeast Asia and beyond.
The funding round was anchored by internet information services provider and software developer Shanghai 2345 Network Holding Group Co Ltd, according to the announcement.
Established in 2015, HiLife Interactive provides its smart solution to residential projects in southeast Asia. Today, it provides smart residential solutions to over 80,000 households in Singapore. The company also has a presence in Indonesia, Malaysia, the Philippines, Sri Lanka, Thailand, and Vietnam.
Its hiLife asset management, for example, allows real-time monitoring of the facility’s security system, visitor system, as well as lighting and energy meters to detect incidents and inefficiencies.
The all-in-one hiLife mobile app combines smart home, smart community, and smart estate in a single holistic solution for both residents and estate managers.
HiLife Interactive said the funds will be channelled towards market growth and technological development. It plans to double its presence in Southeast Asia with new markets, such as Cambodia, and plans to break into the Australasia and European markets by the end of 2021.
The funds will also enable HiLife Interactive to forecast the evolving needs of users to deftly develop new features and bring the platform beyond residential properties.
“The HiLife platform has played a significant role in keeping people safe in this pandemic. Beyond convenience, it enabled contactless living. Homeowners could book limited slots at condominium facilities without any face-to-face contact,” said Sam Ho, Deputy CEO of HiLife Interactive.
With the new financing from Shanghai 2345, HiLife Interactive will continue to invest in technological capability development to enhance its solution.
“Singapore is a regional hub for tech and start-ups. Its start-up ecosystem is an exciting space to be in. HiLife Interactive’s smart lifestyle solution will bring value to the digitally-savvy populations with the digital industry booming as a result of the pandemic,” said Han Meng, Founder of Shanghai 2345 Network Holding Group.