Singapore government-linked funds have invested in US-based cell and gene therapy firm ElevateBio while global accelerator IoT Tribe has selected 12 startups for its deep tech accelerator programme in the city-state.
EDBI and Vertex Ventures invest in US-based ElevateBio
Singapore’s EDBI, the investment arm of the Economic Development Board, and Temasek-backed Vertex Ventures have participated in the $170-million Series B round for US-based cell and gene therapy firm ElevateBio, per a company statement.
Other new investors include US private equity firms The Invus Group and Surveyor Capital. Existing investors F2 Ventures, MPM Capital, EcoR1 Capital, Redmile Group and Samsara BioCapital also joined the round.
The startup will also use the Series B proceeds to initiate clinical studies for at least six therapies across its portfolio in 2020 and 2021.
IoT Tribe inducts 12 startups in first deep tech accelerator cohort in Singapore
London-based accelerator IoT Tribe has selected 12 startups for its deep tech accelerator programme, according to a press release.
Startups in the first cohort include AtomBrush, Avirtech, Leorix, Meracle, Moaah, MyrLabs, PhonePass, Psion Insights, RisikoTek, SenzeHub, SmartBeings and WeavAir.
Together with the Global Innovation Alliance initiative by Enterprise Singapore and the Singapore Economic Development Board, IoT Tribe will be running three cohorts in Singapore over 2020 and 2021.
Earlier in February, the Singapore government announced that it would inject an additional S$300 million under the Startup SG Equity over the next five years to support deep tech startups.