Singaporean-based edge computing startup, Nife, has raised USD $365,000 in preseed funding from multiple investors internationally. This round of funding will be used to improve Nife’s capabilities and bolster 5G connectivity for their clients across the world. This comes with new access locations in 5G environments with telcos in Singapore
A report from the International Data Corporation (IDC) projects that by 2025, 49% of data will be stored in public cloud environments, and nearly 30% of data generated will be consumed in real time. Edge computing decentralises the data processing from data cloud centres and moves it closer to end-users – doing so vastly improves speed and response times.
Founded in May 2020 by Nida Sahar, Nife is an edge computing startup that has offered its solutions across the region. They play a key part in the digital infrastructure for companies and cities making the transition to 5G networks, by enabling data transfers between apps and devices to be as fast as possible.
Nife’s preseed round started at the end of Q1 2021 and has attracted renowned investors internationally. The list of investors includes; Antler from Singapore, NetApp Excellator from India, Startup Chile, Marl 5G accelerator, and Right Side Capital Management from the United States.
“Edge Computing is now becoming more accepted. Two years ago, when we started the company, we knew the market would be ready in 2-3 years. More applications are making use of low latency promises of edge, especially 5G Telco Edge. Hence, today we help customers build, deploy, manage and scale their applications across clouds(hyper-scalers), on-premise infrastructure, colocation infrastructure, and 5G MEC (Multi-Access Edge Computing) locations.” Says Nida.
As members of OGA (Open Grid Alliance), Nife has been running their efforts to build the future of real-time computing, where edge computing will be crucial in the 5G infrastructure that local telcos will be running on. Through Nife, latencies as low as 10ms have been achieved for AR/VR applications during the trial phase.
These developments have led to Nife’s expansion into the rest of SEA, with deployments in Singapore and the Middle East including for the customers Abbott and Riyad Bank. Nife is focusing on not only easing the deployment time but also helping customers in low latency use cases for AR/VR.
Moving forward, Nife is planning to work on private 5G use cases and support gaming and Metaverse applications. Nida has also emerged as one of the top 5 finalists for Accenture’s Women Founders Program and is aiming to close its seed round in September with USD $2 million of funding.
