WhatsHalal kickstarts 2020 with fully subscribed seed round investment from Indonesian and Singaporean investors; Digitalisation of halal certification process underway with world’s first halal process monitoring system.
- Support comes from regional investors to aid WhatsHalal’s overseas expansion, beginning with ventures to Indonesia, Malaysia and subsequently the rest of the ASEAN region.
- Funding and support from fiercely competitive Indonesian funding scene seen as buy-in to WhatsHalal’s goal of digitalising the entire halal certification process.
- WhatsHalal’s proprietary system is designed to reduce the time taken to prepare Halal documentation by up to 66% and cut down the total cost of obtaining a halal certificate by at least 50%
Singapore, 18 February 2020 – WhatsHalal Holdings Pte. Ltd (“WhatsHalal”) is pleased to announce the successful close for the fully subscribed first tranche of their seed investment round, raising an undisclosed amount facilitated by FundedHere, the first crowdfunding platform licensed by the Monetary Authority of Singapore’s (MAS).
This investment, secured at a valuation of S$4.5 million, will primarily be used to fund WhatsHalal’s continued regional expansion and further development of its proprietary technology platform, which provides enterprise solutions to the Halal industry and a secondary focus on talent acquisition and continued product development.
Through WhatsHalal’s Assurance and Traceability Management System (ATeMS), merchants will be able to (1) reduce the time taken to prepare certification documentation by up to 66% and (2) cut the total cost of obtaining Halal certification by up to 50%, with the ultimate objective of reducing the time taken to achieve Halal certification by at least 50% within the next couple of years.
“The current halal certification process is a physical and time-consuming one that is manually intensive and involves a lot of paperwork. It starts with applying for halal certification, testing, inspecting and auditing of the products and processes for their permissibility, to the approval and eventual release of the halal certificate.
With ATeMS, every step of the process is digital, simplified and accelerated from application right up to the awarding of the certification. To date there is not one system in the world that monitors halal process in perpetuity – pre- and post certification, and we pride ourselves on being first in the market with this initiative.
I believe we are only just scratching the surface of how powerful harnessing technology can be for the Halal industry. Our platform is not just limited to the halal industry and community and we anticipate huge demand for our services and are ready to aid businesses who are keen to tap into both the domestic and global halal industry.” – Azman Ivan Tan, Founder and CEO of WhatsHalal.
WhatsHalal is currently enrolled in Batch 6 of Plug and Play Indonesia’s innovation program, one of the world’s most esteemed innovation platforms, and was also a part of the first batch of startups participating in Tribe Accelerator, Singapore’s first government supported blockchain accelerator.
For more information on the funding, refer to the official press release.