SGInnovate invests in medical blockchain startup MediLOT Technologies

Photo: SGInnovate

Singapore’s SGInnovate on Tuesday announced that it has invested an undisclosed amount in MediLOT Technologies, a blockchain startup in the healthcare industry.

MediLOT claims to use blockchain, artificial intelligence and database management system technologies to enable personalised healthcare services. It allows medical practitioners to access patients’ health records securely and use the data collected for predictive health reports, among other things.

The startup, which claims to have been featured in peer-reviewed scientific publications, is backed by NUS, Signum Capital and QCP Capital.

The investment in MediLOT Technologies makes it the first blockchain and healthcare analytics company in SGInnovate’s portfolio as part of its Deep Tech Nexus strategy to develop research-based deep tech startups.

“MediLOT has assembled a great team with a vision to build an interoperable decentralised platform that can be used by all healthcare providers to extract greater value from healthcare records, affording patients better diagnoses and more effective treatments,” said SGInnovate’s Venture Investing head Tong Hsien-Hui. “Their vision is in line with SGInnovate’s mission to help develop high potential companies with products that will have global impact.”

SGInnovate is a private limited company wholly owned by the Singapore Government that invests in and nurtures deep tech startups in Singapore. Its Deep Tech Nexus Strategy focuses on adding tangible value to the Singapore deep tech startup ecosystem in the areas of human capital and deployment of investment capital.

Its investments are prioritized around transformational technologies such as Artificial Intelligence, Blockchain and MedTech.

The firm’s latest investment in the Medtech space came in April when it injected an undisclosed amount of capital in Singapore-based early-medical technology startup NDR Medical Technology (NDR).

Last month, SGInnovate made an undisclosed investment in AIDA Technologies, an AI startup that specializes in predictive analytics and intelligent systems.

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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.