“Self-funded since its inception, we are highly impressed with the vision and operational capability demonstrated by Ivan and his team and their regional investors clearly think the same way as we secured their buy-in and quickly hit our fundraising targets,“ said Daniel Lin, CEO of FundedHere.
The crowdfunding platform was acknowledged by the Monetary Authority of Singapore. According to a statement released by the company, the company received funding from regional investors, as well as the “fiercely competitive Indonesian funding scene”.
According to the company, the investment secured at a valuation of S$4.5 million (US$3.2 million), will primarily be used to finance its continued regional expansion, make new hires to enlarge its team and to further develop its exclusive monitoring system for halal certification.
Halal-certification system intends to help organizations secure and manage halal certifications throughout the expanse of diversified countries easier and faster. The company claims that it is the world’s first global halal-certification system.
WhatsHalal’s application is currently offering six services: Halal food delivery, halal food guide, halal restaurant listing, halal take away and halal restaurant reservations including the barcode scanner which is being used halal-certified goods.
Although the planning for the startup already started in 2015, the food-tech was founded in 2017 by Azman Ivan Tan. The company establishes and sustains data infrastructure to provide assurance in the halal food and beverage industry.
The company’s objective is to be the definitive guide and provider of unquestionably Halal Thoyiban food to the Muslim community. It aims to create a Halal ecosystem that benefits both the merchant to consumers, locally and internationally.
The company’s platform is called Assurance and Traceability Management System (ATeMS), it is an agnostic platform containing global Halal standards. ATeMS is connected to WhatsHalal Global Halal Fabric which provides quicker referencing and retrieval of accurate up-to-date data.
Through ATeMS, dealers will b able to reduce the time taken to prepare certification documentation by up to 66% and cut the total cost of obtaining Halal certification by up to 50%. Within the next couple of years, the firm expects to reduce the time taken to achieve Halal certification by at least 50%.
“The current halal certification process is a physical and time-consuming one that is manually intensive and involves a lot of paperwork,” said Azman.“With ATeMS, every step of the process is digital, simplified and accelerated from application right up to the awarding of the certification.”
In building its proprietary ATeMS, WhatsHalal also leverages on its blockchain platform to ensure transparency and control data integrity and security. According to the firm, it plans to roll out its traceability system and work towards becoming the unifying platform for stakeholders in the whole supply chain.
According to the company, WhatsHalal is currently enrolled in Batch 6 of Plug and Play Indonesia’s innovation program, one of the world’s most esteemed innovation platforms.