Industry races to meet demand for ventilators

Manufacturers are on a mission to produce desperately needed medical ventilators for the coronavirus pandemic, even if it means converting assembly lines now making auto parts. Along with a shortage of masks and gloves, the spread of COVID-19 to almost every corner of the globe has highlighted a great need for specialised machines that help keep severely afflicted patients alive.…

Singapore VC firm Expara to invest in startups combating Covid-19

As the number of Covid-19 cases continues to increase globally, Singapore-based Expara Ventures has launched a new accelerator program to support startups developing solutions to the new challenges brought by the outbreak. The early-stage VC firm and startup enabler said it is now accepting applications for its Expara VirTech Global Accelerator. The three-month online program is set to back 30…

How startups can survive the COVID-19 economic Crisis

To: All angel investors and their portfolio CEOs Being trained as a scientist, and having lived through several investment cycles, I’ve been asked to share my perspective on the financial impact of the COVID-19 pandemic on startups. I firmly believe that the human and societal impact of COVID-19 will be extreme, even though we are at the early stage of…

Lippo Group makes strategic investment in Singapore payments startup MoolahGo

Lippo Group, a multinational conglomerate based out of Indonesia, has made a strategic investment in Singapore fintech startup MoolahGo for an undisclosed sum as part of its pre-series A raise. Prior to this financing round, MoolahGo announced in March last year that it had received seed funding from Eric Barbier, the founder and former CEO of payments firm Thunes (previously…

Singapore cybersecurity firm Right-Hand raises US$1 million in funding

Singapore-based cybersecurity firm Right-Hand has announced US$1,000,000 (SG$1,400,000) in seed funding, which will be used to accelerate its product roadmap development. According to a company statement, Right-Hand offers a software-as-a-service (SaaS) platform for companies to monitor, measure, and mitigate human-induced cybersecurity risks. The seed funding round was led by Atlas Ventures, a Singapore-based early-stage venture capital fund. SGInnovate, an investment…

500 Startups invests in Singapore-based esports startup ESPL

Esports Players League (ESPL), an esports tournament network and platform, announced it has secured an undisclosed amount of seed investment from 500 Startups. Founded in 2019, Singapore-headquartered ESPL creates mobile ecosystems for amateur esports leagues globally. It uses a franchise model, which allows esports players to participate in global tournaments. Aside from mobile esports, it also features PC and console-based…

SE Asia Digest: FlixStock, Arches and JupViec raise funding

In multiple startup rounds in the region, Singapore-based FlixStock has raised $2.5 million in a round led by Wavemaker Partners while knowledge platform Arches has also bagged an investment to expand across Asia. In Vietnam, local venture builder STI Holdings has completed a strategic investment in household service startup JupViec. Wavemaker Partners leads $2.5m funding round in Singapore-based FlixStock Early-stage…

Singapore’s Circles.Life lets go of employees despite recent fundraise

Singapore’s Circles.Life lets go employees despite recent Warburg Pincus-backed funding Mobile virtual network operator Circles.Life reportedly has let go of several employees and eliminated roles associated with non-priority projects less than a month after snagging investment from global private equity major Warburg Pincus, as reported by DealStreetAsia. The company said the layoffs were a part of the company’s year-end review.…

Fast-growing digital bank Revolut triples valuation to $5.5 billion

British financial technology start-up Revolut has raised $500 million in a fresh round of funding that values it at $5.5 billion. The investment round was led by Silicon Valley-based venture capital firm TCV — an early investor in companies like Facebook and Netflix — and also attracted backing from existing investors Ribbit Capital, DST Global, Lakestar and GP Bullhound. It…

Govt’s S$300 million injection into deep-tech scheme will benefit Singapore. But some concerns remain

Among the many announcements in Budget 2020, one which slipped under the radar was the S$300 million injection by the Government into Startup SG Equity for deep-technology startups. Under the scheme, the Government will co-invest up to S$4 million with qualified third-party investors into eligible Singapore-based deep technology startups. As a deep-tech venture capitalist in Singapore’s startup scene, the announcement by…

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