SINGAPORE: Singapore-based mobile virtual network operator (MVNO) Circles.Life said it will go on a hiring spree for engineering talent to build a tech hub in the country to support its expansion plans.
The company said in a press release on Thursday (Jun 6) that it has closed a funding round led by EDBI, the investment arm of Singapore's Economic Development Board, as well as by Silicon Valley-based Founders Fund.
READ: Upstart Circles.Life looks to ring in changes in Singapore’s telecoms sector
“Homegrown Circles.Life is reinvigorating Singapore’s telco industry with its customer-first, data-driven approach enabled by its innovative digital platform," said EDBI CEO Chu Swee Yeok.
A Circles.Life spokesperson declined to reveal the funding figure raised.
The company said it intends to grow the Singapore engineering team by 50 per cent by the end of 2019 as it looks to create a tech hub to continue developing personalised digital services built on its Circles-X platform in Singapore and beyond.
The spokesperson told CNA there are 110 engineers in Singapore currently, which means they are looking at adding 55 more this year. There are a total of 260 employees in Singapore, she added.
The company recently hired its head of product Vipin Sharma, who was formerly at Indian e-commerce giant Flipkart, and are looking to recruit more such key hires for its product department, the spokesperson added.
The latest fundraising comes after it announced this February it closed an undisclosed Series C funding round led by Sequoia India. Circles.Life added that it launched its service in Taiwan this month, and this will be followed by Australia later this year.