In the ninth edition of Singapore Business Review’s 20 Hottest Startups, it was the small and medium enterprise (SME)-focused neobank Aspire that clinched the top spot, with $45.03m (US$32.5m) in funding from a series A round. These 20 startups raised an average funding amount of about $7.85m, which was a 47.32% plunge from the 2018 average of $14.9m.
“Prevention is better than cure” is the mantra spurring some of this year’s 30 Under 30 Asia listees in the Healthcare & Science category to start their health-tech ventures. Stroke is the world’s second-leading cause of death after heart disease, a statistic that inspired Milad Mohammadzadeh and Sadaf Monajemi in 2017 to launch See-Mode Technologies to better predict the risk of strokes.
While investors are expected to become more cautious in the coming months, in March, fundings continued to pour in for Southeast Asian startup ecosystem. The e27 content team noticed that there seemed to be a bigger number of seed-stage funding rounds being announced during the month, as opposed to Series A.
Singapore was one of the first countries hit by the coronavirus, COVID-19. The city state’s early response, which included cash incentives to work from home, chatbots and a national Whatsapp channel to educate and inform citizens, has earned praise from the World Health Organization and in scientific research.
UNL, an Amsterdam-based smart addressing platform for navigation and location-based services, has raised $2 million in seed funding to build the “Internet of Places” and bring the rest of the world’s population into the digital economy. The round was co-led by fellow Dutch company HERE Technologies, which specialises in mapping and location solutions, and Elev8.vc, a Singapore-based Deep Tech VC fund. Other investors include Singapore’s SGInnovate, Amsterdam-based Venturerock and the US-headquartered SOSV.
Cybersecurity startup Right-Hand has raised US$1 million in a seed funding round led by Singapore-based early-stage venture capital fund Atlas Ventures, it said on Thursday. Other investors include Singapore government-owned Deep Tech investor SGInnovate, and tech company builder Entrepreneur First.