Singapore’s social impact platform powering the plant-based movement, abillionveg, has raised $2 million in seed funding led by 500 Startups while Aardvark Labs and Padang & Co have jointly launched CATALYST Collaborative Workspace for health-technology startups and clinician-innovators.
Singapore’s abillionveg raises $2m seed round led by 500 Startups
abillionveg, a Singapore’s social impact platform powering the plant-based movement, has raised $2 million in seed funding led by 500 Startups, bringing the company’s total funding to $2.6 million, according to a release.
New York-based 1/0 Capital, Zurich-based Blue Horizon Group, Singapore-based Calibre Ventures, and family offices across Asia and the US also participated in this round.
Hong Kong-based Founder of Room to Read and prolific author, John Wood, has also come on board as an investor and adviser to abillionveg.
The funding is one of the largest seed rounds for a social impact start-up in SE Asia and for a plant-based start-up globally.
abillionveg is a community-driven review platform that helps people across the world find and share insights about plant-based menu items, packaged foods and cruelty-free consumer products.
abillionveg’s members earn credits when they post reviews, which convert into donations for animal and marine life welfare organizations. The company also sends consumer reviews to businesses, helping them improve and introduce more sustainable options.
It claims that 50,000 reviews have been posted across 30,000 vegan dishes and more than 8,000 consumer products in 90 countries with 40 – 50 per cent growth monthly in Singapore, Hong Kong, Australia, Canada, the US and the UK since launch in May 2018.
The purpose-driven business has the goal of helping a billion people join the plant-based movement by 2030 and of donating US $1 billion dollars to support animal welfare and education causes. The company plans to donate $1 million in 2020,” said Vikas Garg, Founder and CEO, abillionveg.
“Our focus is on building a community to help us achieve the $1-million milestone by the end of 2020. Our funding will be used to accelerate our efforts in recruitment, technology, and growing our community to achieve this,” Mr Garg said.
Aardvark Labs, Padang & Co launch healthtech coworking space
Aardvark Labs and Padang & Co have jointly launched CATALYST Collaborative Workspace, a co-working space that seeks to support medical and health technology startups and clinician-innovators, according to an announcement.
Officiated by Dr Vivian Balakrishnan, Minister for Foreign Affairs and Minister-in-charge of the Smart Nation Initiative, MoUs were signed between Aardvark Labs and SingHealth, National Healthcare Group (NHG), and National Health Innovation Centre (NHIC).
CATALYST is a first-of-its-kind innovation hub for the medical and health technology ecosystem. It brings together public and private practice clinician-innovators and other healthcare professionals; startups; corporate and other ecosystem partners, to create new partnerships that deliver better health outcomes and meaningful business impact.
The co-working space will be located within the Alumni Association building in Singapore, close to Singapore General Hospital, Duke-NUS Medical School, and other healthcare institutions in Outram Park, as well as the National University Hospital and Tan Tock Seng Hospital.