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…

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…

Singapore sets aside additional $215m for deep-tech Startups

Singapore is strengthening its support for deep-tech startups in the country with an additional S$300 million (US$215.4 million) under the Startup SG Equity scheme to encourage investments into such companies. Through Startup SG Equity, the Singapore government co-invests with qualified third-party investors into eligible startups. It aims to draw in more private-sector investments into homegrown startups with intellectual property and…

Singapore startup making cell-based milk secures pre-seed funding

TurtleTree Labs, a Singapore-based startup that leverages biotechnology to create the full nutritional content of milk, has raised an undisclosed amount of pre-seed funding in a round led by alternative protein-focused venture capital fund Lever VC. Asset management firm KBW Ventures and VC fund K2 Global also participated in the round, according to a statement. Using proprietary mammary cell-based methods,…

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…

Tamar Schapira of SenseIT wins the best women-led startup in 2019

Tamar Schapira of SenseIT was declared the winner of the final of the Next Women Female Founders Force Program on 19 December 2019. She received the prize from Peter Potman, Deputy Director General of Foreign Economic Relations at the Ministry of Foreign Affairs during the Hearst HQ event. Tamar Schapira will gain access to a network of more than 150…

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