Deep tech platform SGInnovate invests in Singapore AI startup AIDA

SGInnovate, which helps develop Singapore’s deep tech startup ecosystem, has made an undisclosed investment in AIDA Technologies, an AI startup that specializes in predictive analytics and intelligent systems, according to an announcement.

SGInnovate invests in deep tech startups from pre-seed through Series A stages. Steve Leonard, founding CEO, SGInnovate, believes that problems faced in different sectors can be tackled using deep tech such as AI systems and robotics.

Some of AIDA’s innovations include an AI engine that helps speed up the processing of health insurance claims from days to seconds. AIDA has also developed an engine that identifies inconsistencies in health claims instantaneously and alerts claims officers.

AIDA Technologies is led by Geok Leng TAN, CEO who formerly served as executive director of Singapore’s largest Infocomm Research Institute, A*STAR. SGInnovate will help the startup with productisation of its STP solution, as well as collectively generating potential sales leads.

“We want to use our various capabilities to boost AIDA’s growth, so their expertise in data analytics and machine learning can add real value to the banking and financial services industry,” said Leonard.

AIDA is the third investment made by SGInnovate in the financial services space, the others being Quantiply and Taiger. It also looks at sectors such as logistics, healthcare, blockchain, autonomous vehicles and medtech.

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Singapore: Katrina Group JV; SGInnovate-SC Angels partnership

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.