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 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…

TNB Aura to invest $2m in each startup hit by Covid-19 crisis

TNB Aura, a Singapore-based venture capital firm focused on Southeast Asian investments, launched a new fund to invest US$2 million in each startup affected by the Covid-19 pandemic. The company said the Special Situations Fund can be considered as a “sub-fund” for its TNB Aura Fund II, which it’s targeting to close soon at US$100 million. “With the current market…

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.…

Gaw Capital raises record US$2.2bn for Asia real estate fund

Hong Kong-based Gaw Capital Partners has raised US$2.2bn in the final closing of its Gateway Real Estate Fund VI, marking the firm’s largest fund to date. Gaw Capital also secured a sidecar co-investment commitment of up to US$800m. The fund received commitments from sovereign wealth funds, endowments, pension funds and other institutional investors, with 46% from Europe, 37% from Asia…

Indian tech startup xto10x expands to Singapore, hires ex-Carousell exec

STARTUP consultancy xto10x Technologies has opened an office in Singapore, which will be helmed by its new South-east Asia chief executive officer (CEO), Chai Jia Jih. xto10x helps other startups scale up, through its software, knowledge and capabilities in areas such as operations, data science, human resources, finance and governance. The Bengaluru-headquartered firm said in a media statement on Friday…

Japan Display Says It Has Lined up $828 Million Financing

TOKYO—A financially strapped Japanese supplier of displays for Apple Inc. AAPL 0.25% ’s iPhone 11 said it has lined up financing of up to ¥90 billion ($828 million) from an investment fund with U.S. connections. Japan Display Inc. 6740 +0.00% said Thursday that it has agreed on the basic outline of an investment by a Singapore arm of Tokyo-based Ichigo…

Singapore’s Neuron Mobility raises $18.5M to bring its electric scooters to more international markets

Singapore-based startup, has closed an $18.5 million financing round as it looks to scale its e-scooter startup in international markets — a month after the nation introduced difficult regulatory changes. The new financing round, dubbed Series A, was funded by GSR Ventures, a venture capital firm that was the first institutional investor in Chinese ride-hailing giant DiDi Chuxing, and Square…

Singapore App-Lending Startup Scores $500 Million Valuation

FinAccel Pte, which extends credit to online shoppers in Indonesia under the Kredivo brand, has raised $90 million of expansion capital in a fundraising round valuing the company at almost $500 million. South Korea’s Mirae Asset-Naver Asia Growth Fund and Australian venture capital firm Square Peg co-led the Series C financing, according to FinAccel Chief Executive Officer Akshay Garg. Other…

Singapore dental startup Zenyum secures $13.6m to fuel expansion plans

Singapore-based dental startup Zenyum has raised US$13.6 million in series A funding from RTP Global, Sequoia India, TNB Aura, and Enterprise Singapore’s Seeds Capital, among other investors. Zenyum plans to use the fresh funds to fuel its expansion plans to markets like Vietnam, Indonesia, and Taiwan. It currently operates in Singapore, Hong Kong, Malaysia, and Thailand. Founded in 2018, Zenyum…

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