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…

Singapore mobility startup Swat secures $10.1m to expand overseas

Singapore-based smart mobility startup Ministry of Movement has closed a US$10.1 million series A funding round led by The University of Tokyo Edge Capital 4 Limited Partnership to grow and expand overseas. New investors SMRT Momentum Ventures, ComfortDelGro Ventures, Singapore Economic Development Board’s New Ventures, EDBI, and LKJ Capital Japan also participated in the round, alongside existing investors iGlobe Platinum…

Carousell to merge with 701Search, valuing Singapore startup at over US$850m

ONLINE marketplace operator Carousell has agreed to merge with 701Search, the classifieds firm owned by Norwegian telco Telenor Group, in a deal that values that Singapore-based startup at over US$850 million. Following the part-cash, part-equity deal, Telenor will be Carousell’s new single-largest minority shareholder, with a 32 per cent stake in the combined company. 701Search's three online marketplaces - Mudah…

Singapore healthtech startup Lucence bags $20m in series A funding

Singapore-based healthtech startup Lucence has raised US$20 million in a series A round led by global healthcare provider IHH Healthcare. SGInnovate also participated in the round, along with existing investors such as Temasek Holdings subsidiary Heliconia Capital, Lim Kaling, and Koh Boon Hwee. Lucence uses liquid biopsy, a blood-based technology that’s less invasive than tissue biopsies, to help clinicians analyze…

Paytm Close To Landing $2 Billion New Financing

India's mega fintech Paytm is close to bagging $2 billion of new financing from well-known investors, enough to fend off an influx of new rivals, according to people familiar with the matter. Jack Ma's Ant Financial, Japan's SoftBank Group Corp and Rob Citrone's Discovery Capital Management are in Paytm's latest financing round, boosting the cash horde of the Indian mega…

Singapore overtakes the US to become world’s most competitive country

Singapore has overtaken the U.S. to become the most competitive nation in the world, according to the World Economic Forum (WEF). In its 2019 Global Competitiveness Report, the WEF measured the strength of 103 key indicators, such as inflation, digital skills and trade tariffs, across 141 countries. The key indicators in the report were organized into 12 pillars, which included…

65% of all startup funding in SEA goes to Singapore: 2019 Google report

South-east Asia’s (SEA) internet economy is now worth US$100 billion, and will triple to US$300 billion by 2025, an annual report on the region’s digital economy has found. Of this, US$12 billion was from Singapore – slightly over 10 per cent of the regional total. Jointly published by Google, Temasek, and Bain & Company, the report – released on Thursday…

Udaan soars higher, raises $585 million in fresh funds

Udaan, the fastest Indian startup to achieve unicorn status, has raised $585 million in its latest round of funding, valuing the online business-to-business marketplace at $2.5-3 billion. The Series D round saw investments from Tencent, Altimeter Capital, Footpath Ventures, Hillhouse, GGV Capital and Citi Ventures, the firm said on Wednesday. Existing investors Lightspeed Venture Partners and DST Global also invested…

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