Start@SG: Hub Singapore opens second facility

Hub Singapore opens second facility

Hub Singapore, one of the largest co-working spaces here, opened its second facility last Thursday at Cuppage Terrace in Orchard Road. The facility has 10,000 sq ft of floor space, dedicated team rooms, a corporate innovation workshop hall, Skype booths and meeting spaces. Hub Singapore has more than 250 companies in its community. Its first facility is in Prinsep Street.

Hub Singapore also announced a partnership with IDA Hive - a tech facility run by the Infocomm Development Authority. The collaboration aims to connect entrepreneurs at Hub Singapore with specialists in data science, design, engineering and coding at the Hive.

Ed-tech firm Cialfo to use funds to expand

Singapore-based education technology firm Cialfo, which helps students here apply to universities in the United States and Britain, has raised an undisclosed amount in pre-Series A funding. Series A refers to the preferred stock bought by investors in such funding.

The investment was led by Singapore-based Govin Capital. Other investors included Mr Koh Boon Hwee, former chairman of Singtel. The funds will be used for product development, recruitment and expansion into high-priority growth markets China, India and South-east Asia, the firm said.

Cialfo, founded in 2012, streamlines the university application process through an online platform coupled with expert mentoring. Consultants also provide help for university essays and admission interviews.

Funding Societies raises $10m in round

Peer-to-peer lending platform Funding Societies has secured $10 million in a Series A funding round, the largest sum raised by such a lending platform in South-east Asia. The additional financing will go towards strengthening the customer experience, streamlining services for borrowers and lenders, and complying with regulations here and in Malaysia and Indonesia. The latest round was led by Sequoia India and also included funding from Harvard University experts and existing investors such as Alpha JWC Ventures.

Chia Yan Min

A version of this article appeared in the print edition of The Straits Times on August 11, 2016, with the headline 'Start@SG'. Print Edition | Subscribe