Start Singapore

CapBridge's pilot project next month

A NEW firm that aims to help start-ups raise capital will launch its first campaign next month.

CapBridge, which started earlier this year, has lined up 10 companies from Singapore and overseas as part of a pilot to test its technology.

The 10 firms, which were not named, hope to generate about $138 million in all from accredited investors in return for equity stakes.

The CapBridge process involves a closed crowdfunding service, which means only financial bodies and accredited investors can participate.

It also announced yesterday it has accepted Healthios Xchange and DBS Bank as new partners. CapBridge was set up by the Singapore Exchange (SGX) and ClearBridge Accelerator (CBA) to help start-ups and SMEs.

SGX announced yesterday it will provide up to $1.5 million to CBA to help develop CapBridge.


Facebook's Saverin invests in tech blog

FACEBOOK co-founder Eduardo Saverin has invested in Singapore tech blog TechInAsia (TIA).

Venture capital firm SB ISAT Fund led the $4 million investment, with Mr Saverin, venture capital firm Walden International and other investors also chipping in.

TIA will use the funds to expand operations, including revamping the website to encourage more discussion and contributions from readers.


Contractors' service start-up expands

A LOCAL start-up that provides homeowners with online access to contractors is expanding to the Philippines, Hong Kong and Thailand.

Homeowners post their plumbing, carpentry and other household chores at kluje.com, which then matches them with contractors.

Founder Andrew Esmonde-White said: "By localising the service in different countries, we aim to make this service accessible to 200 million households."

The two-year-old start-up offers contractors for a variety of services, including air-conditioning, waterproofing and landscaping.


MoolahSense raises $1.1m for four firms

SINGAPORE'S first crowd-financing start-up MoolahSense has successfully raised $1.1 million for four companies since it started in November last year.

Its latest project saw it raising $261,000 from 47 investors, said a media statement yesterday.

Companies use MoolahSense to tap investors for funds, on which they will pay interest.

An ongoing campaign is by a telecom engineering company which hopes to raise $300,000 to fulfil confirmed sales orders with a target interest rate of 20 per cent annually. The campaign has raised $25,000 within two days, and is expected to end on July 16.


Hackathon for Muslim youth

MUSLIM youth can enter a 24-hour hackathon on July 4 to develop mobile apps or desktop programmes that help solve problems for their community.

The event, to be held at An-Nahdhah Mosque in Bishan, is organised by Islamicevents.sg and supported by An-Nahdhah Mosque and Central North Mosque Cluster.

To register, go to http://mosquetechchallenge.com

GRACE CHNG

Send news on start-ups to chngkeg@sph.com.sg

A version of this article appeared in the print edition of The Straits Times on June 25, 2015, with the headline 'STARTSINGAPORE'. Print Edition | Subscribe