Singapore health tech startup Homage bags $1.2m seed round

Senior citizens during a routine at a care home. Photo: Bloomberg

Singapore home-based care-giving startup Homage has secured a $1.2 million in a seed round funding from venture capital firms 500Startups, Golden Gate Ventures and SeedPlus, and it will use the fresh capital for product development and operation scale-up.

In an announcement on Wednesday, the 2016 launched startup said, “Funds raised in this seed round will be used to accelerate product development and scale operations to meet strong local demand.”

The firm had a previous angel round participated by renowned Singapore-based entrepreneurs. Among the earlier investors in the local firm were Huang Shao-Ning and Lim Dershing, co-founders of local career portal JobsCentral, Pieter Walraven, former founder of work chat app Pie, Phey Teck Moh, former President of Motorola Solutions, Asia Pacific and Juha Panaanen, former founder of Non-stop games.

Homage was founded by Y-Combinator Alumni Gillian Tee, Lily Phang, and Tong Duong. The team was motivated to start Homage when they saw a clear and urgent demand for high quality in-home care for the elderly, who currently number more than 450,000 in Singapore’s rapidly aging population.

“Nowhere is shortage of quality caregiving more acute than in Singapore and Asia, where many families struggle to find in-home solutions they can trust. The process is time-consuming, costly, and most of all, deeply stressful,” said Gillian Tee, Co-founder and CEO of Homage.

In Asia, many countries like Japan, Singapore and even Malaysia have an ageing population that has led to difficulties but also an avenue for elderly care related businesses to start.

The health tech platform also serves as an enabler for “micro-entrepreneurship”, providing specialized training for both aspiring and experienced care professionals. These care professionals are then hand-picked to provide services through Homage. The founding team hopes that this would create opportunities for individuals who are looking for a rewarding career with a flexible work schedule.

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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.