Singapore boosts Startup funding amid a pandemic slowdown

eustan ventures

The Singapore government committed an extra 285 million Singapore dollars ($200 million) on Tuesday to top up an existing scheme to boost tech startups. As capital flowing into the city-state dries up amid the uncertainties triggered by the coronavirus pandemic, the Singapore government will match the money venture capitalists put into startups. "In this environment, some promising startups in Singapore…

500 Startups invests in buy-now-pay-later services startup Split

eustsan

Split, a fintech startup that enables businesses to provide a ‘buy-now-pay-later’ service to their customers in Singapore and Malaysia, announced today it has secured an undisclosed amount of funding, led by 500 Startups. Angel investors, including Louise Daley, Deputy CEO of AccorHotels Asia Pacific, also participated. With this, Daley has also joined Split’s Board of Directors. Split was co-founded in…

EDBI, Seeds Capital launches $205m fund for Singapore startups

Singapore

Singapore government-linked EDBI and Seeds Capital announced a S$285 million (US$205 million) fund to support startups in the city-state and help them sustain their growth amid the Covid-19 pandemic. With the Special Situation Fund for Startups (SSFS), EDBI and Seeds Capital will invest in selected startups with private sector co-investors on a one-to-one basis, according to a statement. EDBI is…

Singapore-based caregiving startup launches Homage Health for online and home medical consultations

Eustan Ventures Singapore

Homage, the Singapore-based startup that matches families and caregivers, has launched a new service that provides home medical visits, telehealth consultations and medication delivery. Called Homage Health, the service was already being developed before the COVID-19 pandemic, but co-founder and CEO Gillian Tee told TechCrunch that its launch was accelerated because many of the company’s caregiving recipients are elderly or…

Singapore startups Hubble, LingoAce raise venture funding

Venture Capital Singapore

Digital construction management startup Hubble and online language learning platform LingoAce have raised $3.6 million and $7 million in venture capital funding, respectively. Hubble secures $3.6m in Tin Men-led funding Hubble, a Singapore-headquartered AI and machine learning-driven digital construction management startup, has secured $3.6 million in its first external funding round. The financing was led by venture capital firm Tin…

Singapore secured about S$13 billion in investment commitments in first 4 months of 2020 amid COVID-19 outbreak

Despite the COVID-19 outbreak, the Economic Development Board (EDB) has in the first four months of this year secured about S$13 billion in investment commitments for the “next few years”, Trade and Industry Minister Chan Chun Sing said. This “very good performance” means Singapore has exceeded the S$8 billion to S$10 billion which had been projected for the whole of…

Singapore startup that creates healthier versions of your favorite food bags funding

It’s common to have a love-hate relationship with our favorite unhealthy snacks. After all, treats like ice cream, packaged baked goods, and sugary instant beverages are high in calories and wreak havoc on our overall health. Hoow Foods plans to change this. Launched in 2018, the company uses what it calls food reformulation technology to create healthier versions of certain…

Singapore’s Mighty Jaxx bags $3m funding led by KB Investment

Singapore-based platform for designer toys and collectibles Mighty Jaxx International has raised a funding of S$4.5 million ($3 million) led by South Korea’s KB Investment to conclude its pre-Series A funding round closed at a total amount of S$7 million. The new tranche of funding was also joined by existing investor SGInnovate, as well as LA based VC Greycroft Partners,…

Singapore Partial Lockdown to Cost Economy S$10 Billion

Singapore’s partial lockdown to contain the spread of the coronavirus could cost the economy about S$10 billion ($7 billion) in lost output, Maybank Kim Eng Research Pte. estimates. That equates to about 2% of gross domestic product, according to Chua Hak Bin, a senior economist at Maybank in Singapore. Singapore has banned social gatherings and shut workplaces, except for essential…

Singapore announces SGD 30 million investment in agri-food Industry

Singapore, Apr 8 (PTI) Singapore on Wednesday announced a 30-million Singapore dollar investment in the agri-food industry to speed up the production of commonly consumed food items like eggs, vegetables and fish during the coronavirus crisis. Called the 30x30 Express grant, it aims to strengthen Singapore''s food security, as part of its goal of meeting 30 per cent of the…