Here’s how the Singapore startup scene will look like in 2020

2019 was a significant year for the Singapore startup scene for several reasons. On a positive note, Carousell’s merger with classified firm 701Search lifted its value to S$1.2 billion, showing that born-and-bred Singaporeans can grow unicorns – companies with a valuation of over S$1 billion - and can compete in the big league. On the downside, local grocery seller HonestBee…

Medtech startup eko.ai raises US$4m in funding round co-led by Sequoia India, EDBI

MEDTECH startup eko.ai has raised US$4 million in a funding round co-led by Sequoia India and Singapore investment fund EDBI. Partech Ventures, SGInnovate and Startup Health also participated in the funding round, the heart disease detection firm said on Tuesday in a press statement. The funds will be used to grow eko.ai's development team and accelerate the firm's US and…

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…

Wastewater treatment startup Hydroleap raises S$2.6m in latest funding round

SINGAPORE-BASED wastewater treatment startup Hydroleap has raised S$2.6 million in a funding round led by Wavemaker Partners. Other investors included Seeds Capital and 500 Startups’ South-east Asia-focused 500 Durians fund. The startup will use the funds to take its electrical wastewater treatment technology to industrial parks, mining, palm oil and semiconductor industries, it said in a media release on Monday.…

Food & AgTech Investors Are Most Excited About The Future In Asia

Food & AgTech investors are most excited about the potential for Asia’s agri-foodtech startup scene, according to a new report AgFunder just released with Idea2Scale. We conducted a survey of 50 global venture capital firms that invest in foodtech and agtech and asked them about the categories and geographies they were most excited about as well as the key challenges…

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…

Singapore AI startup Advance.ai banks $80m in series C round

Singapore-based AI and big data firm Advance.ai raised US$80 million in a series C round led by private equity investor Pavilion Capital and Chinese venture capital firm Gaorong Capital (formerly Banyan Capital). Unicorn Venture and eGarden Ventures also participated in the round, alongside existing investors GSR Ventures and Vision Plus Capital. Founded in 2015, the data-driven fintech company helps businesses…

Singapore healthtech startups attract US$105m in 2018

HEALTHTECH startups in Singapore attracted US$105 million across 21 deals in 2018, according to a report published by healthtech researcher Galen Growth Asia in collaboration with Singapore's Economic Development Board. Singapore's deal value made up 24 per cent of total deal value in Asia excluding China and India. China took home the crown for having attracted the most funding, amounting…

How one Singaporean entrepreneur is impacting the global craft spirits market

F&B veteran Michel Lu turns his hand to distilling boutique Asian flavours under The Orientalist Spirits brand, and also aims to champion other independent distilleries in the region. Turning 50 this year has offered veteran F&B entrepreneur Michel Lu time for introspection. “A brand done properly can last a lifetime, and even outlive you,” he muses, as he shares his…

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