AMTD Digital Continues Acquisition Spree in Singapore with FOMO Pay

AMTD Digital, the integrated digital solutions platform of AMTD Group, announced that it will acquire a controlling stake in FOMO Pay, a QR payments provider, via its “Fusion-in” programme, which involves using a combination of share swap and cash for investment. The acquisition is subject to the Monetary Authority of Singapore’s (MAS) approval. FOMO Pay is a well known Singaporean…

Singapore-based robotics startup Botsync secures seed-funding from lead investors

Singapore-based robotics startup Botsync secures seed-funding from lead investors

Singapore-based robotics startup Botsync has secured seed-funding from lead investors Wong Fong Industries Ltd., SEEDS Capital, Angelhub and Artesian Venture Partners for an undisclosed amount. The funding will enable them to accelerate product development, build new technology teams and scale up production of their heavy-duty autonomous mobile robot solutions, to support the logistics and manufacturing sector. Four Indian graduates from…

Investments flood Singapore fintechs in April, May after quiet Q1

Total equity funding reached a record-high $462m. Singapore-headquartered fintechs saw a sharp increase in investments in April and May, a recovery from the downturn seen in Q1, as investors injected funds into large firms relevant to the current environment, according to a BCG FinTech Control Tower report. Total equity funding hit a record-high $462m YTD, showing solid confidence in the…

Singapore to invest more than $14bn to support research and innovation

Singapore Eustan

Singapore is positioning itself for a post-coronavirus world with massive investment in innovation, over and above the immediate support it is giving to help the economy rebound from possibly its worst downturn on record. The government will set aside more than S$20 billion ($14.3bn/Dh52.6bn) to support research in “high impact areas” such as health and biomedical sciences, climate change and…

Singapore fintech sector bags S$462m in funding in H1 2020

eustan ventures

NVESTMENT in Singapore-based financial technology (fintech) firms spiked year on year in the first six months, on the back of a surge in deals in April and May 2020. Equity funding hit S$462 million in the period to June 15, up 19 per cent against the first half of 2019, going by industry data released on Friday. Banking services for…

Singapore retains top spot as world’s most competitive economy

Singapore has retained its top spot as the world's most competitive economy in the latest edition of the IMD World Competitiveness Ranking. The Republic held on to the top slot for a second straight year in the annual list of 63 economies, which analyses their ability to generate prosperity. Making up the top five after Singapore were Denmark, Switzerland, the…

HSBC still growing in Singapore even as it resumes global job cuts

Eustan Singapore

HSBC is resuming its plans to cut about 35,000 jobs worldwide in the medium term as part of a major overhaul it had announced earlier this year. But there will be no redundancies in Singapore this year, The Straits Times understands. A spokesman said Singapore remains one of its growth markets. "Since 2018, HSBC Singapore has grown its headcount by…

Singapore Startup NamZ Launches Climate-Resilient Sustainable Food Brand

Eustan

NamZ, a Singapore food tech developing “future fit” foods using climate-resilient crops, has just launched a range of sustainable food products under its new brand WhatIF Foods. Products include shakes, soups and noodles, all of which are designed to be nutritious yet convenient for consumers. The company hopes that it will help bolster Singapore’s food security while supporting farming communities,…

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 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…

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