Daily Briefing: Electricity tariff to fall 15% from July to September; Qualee raises $1.4m from Tandem Technology Partners

And B Capital closes second fund at $1.14b.

From ChannelNews Asia:

The electricity tariff will fall by an average of 15% for the period from 1 July to 30 September due to lower energy costs, said SP Group

Households will see a drop in the tariff from 23.02 cents to 19.60 cents per kilowatt hour. Families living in four-room HDB flats can expect their average monthly bill to decrease by about $12.

The latest tariff is the lowest since the October to December period in 2016, when it was at 19.13 cents per kWh. The tariffs in the previous quarter fell by 5.1%, falling from a five-year high in the first three months of 2020.

SP Group reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority, the electricity industry regulator.

Read more here. 

From e27:

Singapore-based Qualee Technology has raised $1.4m (US$1m) in funding from Tandem Technology Partners.

Qualee said in a press release it will use the capital to enhance its product, recruiting, consulting, marketing and support.

Qualee is an online platform for organisations to enhance their engagement and on-boarding processes with employees. Its proprietary self-service, digital platform automates procedures and provides clients with the ability to securely create employee experiences that measurably improve employer familiarisation and engagement.

Its cloud platform provides clients with the ability to design customised on-/off-boarding and micro-learning journeys, manage multimedia content repositories, meet compliance requirements and regularly engage staff.

Read more here. 

From DealStreetAsia:

Venture capital firm B Capital Group has closed its second global fund for B2B growth-stage investments at $1.14b (US$820m), bringing its total assets under management to nearly $2b (US$1.44b).

The firm has reached the first close of the fund in April 2019 with $566.14m (US$406.1m) in capital commitments.

According to an SEC filing, B Capital raised $1.15b (US$821.79m) from 161 investors for its sophomore fund. The fresh capital will give it the ammunition to make opportunistic bets at a time when the pandemic has pushed users and businesses to go online.

B Capital said it has grown significantly to more than double the size of its global team in the last year. It has also added several new partners and key leaders in its investing, operations, and platform teams.

Read more here.