SG Digest: EDBI, Vertex back ElevateBio; IoT Tribe selects 12 startups

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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.

 

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.