GBCI Ventures Pours US$11 Million into Its Own Fintech Startup

eustan ventures

GBCI Ventures announced an US$11 Million investment into Fincy a fintech startup led by Douglas Gan, Vannesa Koh and Lim Ming Wang who are all from GBCI Ventures. In a media statement, they shared that Fincy is the venture capital firms new endeavour that aims to provide an “affordable alternative to existing financial services, starting with simplifying currency exchange via…

Singapore-based caregiving startup launches Homage Health for online and home medical consultations

Eustan Ventures Singapore

Homage, the Singapore-based startup that matches families and caregivers, has launched a new service that provides home medical visits, telehealth consultations and medication delivery. Called Homage Health, the service was already being developed before the COVID-19 pandemic, but co-founder and CEO Gillian Tee told TechCrunch that its launch was accelerated because many of the company’s caregiving recipients are elderly or…

Singapore secured about S$13 billion in investment commitments in first 4 months of 2020 amid COVID-19 outbreak

Despite the COVID-19 outbreak, the Economic Development Board (EDB) has in the first four months of this year secured about S$13 billion in investment commitments for the “next few years”, Trade and Industry Minister Chan Chun Sing said. This “very good performance” means Singapore has exceeded the S$8 billion to S$10 billion which had been projected for the whole of…

Singapore’s Mighty Jaxx bags $3m funding led by KB Investment

Singapore-based platform for designer toys and collectibles Mighty Jaxx International has raised a funding of S$4.5 million ($3 million) led by South Korea’s KB Investment to conclude its pre-Series A funding round closed at a total amount of S$7 million. The new tranche of funding was also joined by existing investor SGInnovate, as well as LA based VC Greycroft Partners,…

Singapore Partial Lockdown to Cost Economy S$10 Billion

Singapore’s partial lockdown to contain the spread of the coronavirus could cost the economy about S$10 billion ($7 billion) in lost output, Maybank Kim Eng Research Pte. estimates. That equates to about 2% of gross domestic product, according to Chua Hak Bin, a senior economist at Maybank in Singapore. Singapore has banned social gatherings and shut workplaces, except for essential…

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…

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…

Singapore B2B e-learning platform raises funds in Agaeti-led round

ProSpark, a Singapore-based e-learning platform for businesses, announced that it has closed a pre-seed funding round led by early-stage venture capital firm Agaeti Ventures. Angel investor Adi Adisaputro and Prasetia Dwidharma, a telecom infrastructure developer and early-stage investment firm, also participated in the round. The amount of funding was not disclosed. Founded in 2018, ProSpark provides a business-to-business learning management…

How startups can survive the COVID-19 economic Crisis

To: All angel investors and their portfolio CEOs Being trained as a scientist, and having lived through several investment cycles, I’ve been asked to share my perspective on the financial impact of the COVID-19 pandemic on startups. I firmly believe that the human and societal impact of COVID-19 will be extreme, even though we are at the early stage of…

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…