SG Digest: Carousell Motors launches; Spacemob & Ascendas-Singbridge partnership

Online marketplace Carousell launches Caorusell Motors, SpaceMob has entered into a strategic partnership with Ascendas-Singbridge and Amarantus BioScience plans to acquire assets of SeD Biomedical.

Carousell launches Carousell Motors

Online marketplace Carousell has launched  Carousell Motors, a one-stop mobile classifieds marketplace for used cars. The new mobile app aims to make car buying and selling easier, helps aspiring car owners make the best decision possible by providing reliable, transparent and easily accessible information on used cars in Singapore.

Carousell Motors aims to provide a simple interface that offers a smooth and easy car buying experience, such as search features to permit buyers to search for their next car in several ways including by make, model or dealers, or use quick filters including financing options and car depreciation to find what they need.

Users can also save their favourites, compare car options at a glance, and chat directly with verified dealerships on the app. All listings on Carousell Motors will be available on Carousell’s general classifieds marketplace. Existing car owners will be able to “snap, list and sell” their cars as easily as it is to buy and sell on Carousell.

Siu Rui Quek, Co-founder and CEO of Carousell says, “Carousell Motors is our response to the frustration faced by car buyers today. Many feel that current sites are cumbersome to navigate, without sufficient information and choices to make good decisions, and the industry is fraught with distrust.”

“The spike in growth of Carousell’s Cars category over the last few months is a signal to us that people are looking for more quality choices, and credible information from trustworthy sellers. We believe a dedicated app for serious car buyers will give them a more personalised and breezier car shopping experience, and bring greater value to our community,” he adds.

The launch of Carousell Motors comes off the back of Carousell’s acquisition of Caarly, a startup which used mobile technology to build productivity tools for car dealerships. The team has tapped on their strong domain expertise in the automotive industry, and wide network of partners accumulated over the years, to offer Singaporeans a more delightful and empowering car buying experience.

SpaceMob forms strategic partnership with Ascendas-Singbridge

Spacemob, the Vertex Ventures-backed coworking space operator, today announced a strategic partnership with Ascendas-Singbridge – a provider of sustainable urban and business space solutions – to open a coworking space in Singapore Science Park at the end of March 2017.

The 14,000 sq ft space at Ascent, a new Ascendas-Singbridge development located opposite Kent Ridge MRT Station at Singapore Science Park 1, will provide small businesses with cost-effective spaces, close proximity to key research and tertiary institutions, R&D, high-tech innovation and start-up communities.

Ascendas-Singbridge Group CEO Miguel Ko comments; “We are delighted to partner with Spacemob to provide coworking spaces to entrepreneurs and small-medium businesses in the thriving ecosystem at Singapore Science Park. With their track record in attracting members, community building, and integration of technology into coworking, Spacemob stands out as a key player in this rapidly emerging market.”

Spacemob forms partnerships with property owners to operate coworking spaces and generate new revenue streams for them. Spacemob CEO and founder Turochas FuadHe said, “We are delighted to be working with Ascendas-Singbridge on our second coworking space in Singapore. One of our objectives as a company is to enable space as a service and maximise space usage for our property partners.”

“This will allow us to house a hundred companies and expand our coworking community at a convenient and accessible location. We look forward to growing across the region with similar partnerships and offerings,” he adds. Spacemob is poised for further growth in 2017 with coworking spaces coming to Jakarta, Thailand and Vietnam.

Amarantus BioScience to acquire SeD Biomedical assets

SeD Biomedical Inc. (SeD Biomedical), a Singapore-based wholly owned subsidiary of Singapore eDevelopment Limited which concentrates on biomedical product development, and US-based biotech firm Amarantus BioScience Holdings, Inc. (OTCPK: AMBS), announced that both companies have entered into a non-binding Letter of Intent (“LOI”) for Amarantus to acquire as many as four of SeD Biomedical’s biotechnology platforms.

SeD Biomedical and its Singapore-based holding company, SeD, are under the control of current SeD CEO and largest shareholder Chan Heng Fai.

The LOI comes as part of the Amarantus’ overall restructuring plan initiated in November, 2016. Dominick & Dickerman, a New York-based investment banking and advisory firm founded in 1870, is serving as financial advisor to Amarantus for the restructuring and potential asset acquisitions.

The agreement encompasses bridge financing for Amarantus and asset investment. Prior to the asset investment, SeD Biomed will make available funding to help Amarantus pay down key expenses, and initiate the process of settling Amarantus’ outstanding secured debt and convertible preferred equity securities, in addition to Amarantus’ accounts payable. The use of funds will be mutually agreed between Amarantus and SeD Biomed.

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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.