This Startup Fundraising Platform is Bringing Non-Profits to the World of Venture InvestingApril 2, 2021
While the blockchain is most commonly referred-to in the same breath as cryptocurrency and feverish market runs, many believe that the real potential of blockchain technology goes far beyond digital coins. At its core, blockchain technology is essentially a transparent and immutable ledger for any type of transaction, including transactions between funding agencies and on-the-ground actors. Cryptocurrencies and charities seem like a match made in heaven. Transparency, immutability and traceability: everything charities need to work effectively.
Straight-forward hypothesis is that since forest cover and reforestation efforts can be easily detected by satellite, each acre protected or reforested can trigger payments from investors directly to the people or communities responsible for the work.
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DAO Maker Supports Rainforest Foundation’s Blockchain Development
Rainforest Foundation US is a 501(C)(3) non-profit organization with a mission to tackle major challenges of our time: deforestation, climate crisis, and human rights violations.
As a progressive organization, Rainforest Foundation is developing a system to use smart contracts to directly get funds to the frontline rainforest community based on verified evidence that they protect their forests.
One of the biggest challenges in tropical conservation and reforestation is ensuring that the limited funding available for on-the-ground work actually reaches the people on the ground.
All too often, funding for frontline defenders disappears in the hallways of well-intentioned NGOs and what reaches the people who could put it to best use—such as indigenous communities—is only a fraction of the original sum. At the same time, foundations and corporate institutions interested in investing in front-line conservation often lack viable options that meet their monitoring, verification and transparency requirements.
Rainforest Foundation is collaborating to expand its community and spread awareness about environmental protection to the crypto space by utilizing social mining as a community incentive program, while adding adoption to DAO products.
DAO is also inviting its strategic partner NEM to support Rainforest Foundation by assisting in symbol integration. With tech innovation and development experiences, NEM will be accelerating the usage of blockchain in environmental protection.
DAO Multi-Investment Platform, For Good
Risk-capped opportunities are at the heart of DAO Maker’s multi-investment platform.
With this partnership, the company is taking its multi-investment platform’s mission of making venture opportunities accessible to anyone, anywhere to a new frontier.
Rainforest Foundation US will have preferred participation rights in all DYCOs, making it possible for tokenized startups to host the prestige of claiming investments from a major charity, and we intend to expand our network in this new righteous segment.
DYCOs are innately risk-capped, but charities participating in them will have additional risk-capped facilities.
This is also a major step in pushing offerings beyond the crypto space.
Singapore-based UI test automation solution UI-licious, on Thursday, announced a new round of pre-Series A funding of $1.5 million led by Monk’s Hill Ventures.
The funding will be used to expand its product development, and sales and marketing teams to expand its customer base of small to large enterprises.
“Currently, 90 per cent of software teams worldwide rely on manual testing which is laborious, intensive, and costly. We created UI-licious because the software industry needs a UI test automation solution that is robust, scalable, and cost-effective – while being as simple as possible. It does not require technical expertise or additional manpower. We believe that automating tests for software will be the norm and standard practice rather than an exception,” said Shi Ling Tai, chief executive officer, and co-founder, UI-licious.
The platform allows anyone to write tests in pseudo-English. Its tests are very robust and work even if the UI design and underlying code change. The team developed a proprietary test engine that uses dynamic code analysis to understand the structure of the application and determine which parts of the page is the intended target. Instead of writing a verbose bug report, testers can send UI-licious interactive test reports to show exactly how, where, and when the defect is in the application, allowing teams to resolve issues quickly, the company shared.
“Co-founders Shi Ling and Eugene have developed a product to address the quality assurance issues that have plagued the software automation industry for years. They have shown maturity, growth, and tenacity in pursuing their mission – to rid the world of software bugs. The team’s experience as software engineers has equipped them with the technical knowledge and insights to build a simple and robust tool that empowers manual testers to automate testing and detect bugs before users do. We look forward to working with them as they continue to scale and expand into international markets, delivering good user experiences globally,” remarked Justin Nguyen, partner, Monk’s Hill Ventures.
UI-licious currently serves customers around the world from small to large enterprises. This includes Daimler and Jones Lang LaSalle, who use the solution to deliver high-quality digital e-commerce experiences for their customer-facing applications and backend systems built on SAP, Microsoft Dynamics, and Salesforce. Glints, a tech-enabled recruitment firm, use the platform to test their products before going out to market.
“UI-licious is a breath of fresh air compared to other existing platforms in the market. What we like is the ability to write tests collaboratively in (almost) plain English on an easy-to-use interface, which allows stakeholders to come together and understand the acceptance criteria. Using UI-licious, we were able to cut our manual QA run work by 80 per cent and eliminate QA bottlenecks in our development cycle,” concluded Seah Ying Cong, chief technology officer, Glints.