IDA’s $200m fund to attract US startups to SG


The Infocomm Development Authority of Singapore (IDA) is offering $200 million in funding to startups in the US as it attempts to bring more American startups to the city-state. The IDA made this announcement as it kicked off San Francisco office. DEALSTREETASIA had recently reported that Singapore’s Block 71, the factory buildings that… Read more »

Temasek buys SVB’s Indian venture debt arm

Singapore -based Temasek is acquiring 100 per cent stake in in SVB India Finance Private Limited, the specialty lending arm of Silicon Valley Bank, for about $45 million. Silicon Valley Bank is a wholly-owned subsidiary of NASDAQ-listed diversified financial services company SVB Financial Group. According to a regulatory disclosure, the… Read more »

Eduardo Saverin, Velos invest in Hopscotch

Singapore-based Facebook co-founder Eduardo Saverin and venture capitalist firm Velos Partners, an early-stage investor based in Los Angeles, US have led the Series B funding round for India-based Hit The Mark, parent company of Hopscotch. This is Saverin’s first direct investment in Indian e-commerce space and he will be joining the company’s… Read more »

Alpha7 launches ‘COO as a Service’ with S$500k seedfund

A new tech firm, Alpha7, has officially launched ‘Chief Operating Officer as a Service (COOaaS)’ platform, to support small & medium enterprises (SMEs) and startup ventures that need access the domain expertise and industry experience, required to leverage people, processes and technologies, which can optimise their business outcomes and achieve transformation Founded by the former… Read more »

GIC to invest $166m in India’s Bandhan Bank

Singapore’s sovereign wealth fund GIC will invest $165.5 million (Rs 1600 crore) in Bandhan Financial Services, one of the two new companies that had recently got permits to launch banking services in India, a company executive said, according to a Reuters report. The soon-to-be launched Bandhan Bank has also got an equity… Read more »

Startup Travels plans Asia Pacific expansion

Startup Travels, a Copenhagen-based travel startup has big plans for Asia, particularly for the growth markets of Southeast Asia.  Prior to its Asian launch, it had already attracted 10,000 entrepreneurs from 130 countries and almost 1200 cities. Launched in October 2014, it functions as a platform and professional social network for… Read more »

Singapore’s JFDI launches 50th startup

Singapore-based Joyful Frog Digital Incubator (JFDI), which specialises in digital entrepreneurship, launched it’s 50th startup last week. The accelerator, which is partially funded by the Infocomm Development Authority (IDA) of Singapore, was also celebrating the completion of five years of establishment. About 12 startups, which were trained, mentored and incubated after… Read more »

Tech startup Novelsys raises $50k via Kickstarter

Novelsys, a Singapore-based startup venture, is seeking to reinvent the mobile charging experience. Ampere, their flagship product that functions as a wireless charging phone sleeve, raised nearly $50,000 of a $60,000 Kickstarter crowdfunding goal within a day. Ampere differentiates itself from other startup ventures by offering a custom mobile app that… Read more »

SG’s healthtech startup eVida raises first round of funding

Singapore-based smart home, healthcare software and product developer eVida has raised $39,000 in private funding, led by Singapore-based startup accelerator Ideasinc. Founded by CEO Joyce Chee, COO Darius Sim and CMO Edoardo Stazi, eVida focuses on developing products and software that specialises in healthcare Big Data and Z-Wave, digital wireless home automation standard…. Read more »

SVC Asia to give $12k as seedfund to winner

The DBS-NUS Social Venture Challenge Asia (SVC Asia) 2015 will be giving out S$150,000 ($120,000) as seed funding to the winners. Jointly organised by both NUS Enterprise and the DBS Foundation, the social venture award is given to the idea that can demonstrate greater scalability and sustainable social impact . The 2015 award is  also meant to… Read more »