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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Singapore chatbot startup Pand.ai secures pre-series A funding

Singapore-based conversational AI startup Pand.ai has raised an undisclosed amount of pre-series A funding from Bualuang Ventures, the corporate venture capital arm of Bangkok Bank. It plans to use the new funds to expand the resources of its natural language processing (NLP) lab in Singapore, which focuses on developing conversational AI engines for Southeast Asian languages, according to a statement.…

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Singapore Launches Framework to Attract Investment Funds

The new corporate structure can be used for a wide range of investment funds and provides fund managers greater operational flexibility and cost savings. Singapore is courting more funds to base themselves in the city-state with the launch of a new framework that caters to the needs of global investment funds and investors, and a grant scheme to encourage industry…

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Singapore-based iSTOX closes $5 million in investment funding

Capital markets platform iSTOX has closed an investment funding of $5 million from South Korean company Hanwha Asset Management. Singapore-based iSTOX is a capital markets platform for fundraising through the use of Security Token Offerings (STOs). The platform supports one-stop issuance, custody and trading of digitized securities. The company aims to allow investors and issuers to connect and transact directly…

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POS startup StoreHub secures $8.9m in Vertex-led round

StoreHub, which offers an omnichannel operating system for retail and F&B businesses across Southeast Asia, has raised US$8.9 million in a Series A+ round led by existing investor Vertex Ventures Southeast Asia and India. Tokyo-based Accord Ventures and an undisclosed private family office also participated in the round, which pushed the startup’s total funding to date to US$15 million, according…

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Malaysia’s P2P total financing to reach RM1b in 2020

DOMESTIC peer-to-peer (P2P) financing industry is expected to exceed RM1 billion in 2020, said the Funding Societies Malaysia. Co-founder and CEO Wong Kah Meng (picture) said with the total financing for the industry standing at RM521 million last year, 2020 poised to record more growth. “As the Malaysian government seeks to boost micro, small and medium enterprises’ (MSMEs) GDP contribution…

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AMTD, Xiaomi, Funding Societies, SP Group join Singapore digibank Race

Hong Kong-based investment banking firm AMTD Group, Xiaomi consumer finance arm Xiaomi Finance, Singapore government-owned SP Group, and crowdfunding startup Funding Societies officially announced they have submitted an application for a digital wholesale banking license in Singapore. The consortium, led by AMTD, focuses its bid on small and medium-sized enterprises in all stages of growth in Southeast Asia and Greater…

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Medtech startup eko.ai raises US$4m in funding round co-led by Sequoia India, EDBI

MEDTECH startup eko.ai has raised US$4 million in a funding round co-led by Sequoia India and Singapore investment fund EDBI. Partech Ventures, SGInnovate and Startup Health also participated in the funding round, the heart disease detection firm said on Tuesday in a press statement. The funds will be used to grow eko.ai's development team and accelerate the firm's US and…

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Li Ka-shing leads funding round for Hong Kong fintech startup

Tycoon Li Ka-shing, the former chairman of CK Hutchison Holdings, has led a new funding round for MioTech, a Hong Kong-based startup that uses artificial intelligence to generate data for investors. Li's investment company, Horizons Ventures, led MioTech's previous $7 million funding round in 2017. It was joined this time by a publicly listed media company, said Jason Tu, co-founder…

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Singapore’s EV Growth makes final close of debut fund at $250m

Singapore-headquartered venture capital firm EV Growth announced that it has made the final close of its reopened first fund at $250 million, exceeding the initial target of $150 million. DealStreetAsia reported in May that the firm, a joint venture between Sinar Mas, East Ventures, and Yahoo! Japan, has made a final close of the fund at $200 million. The firm,…

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