Start@SG

Singularity launches Singapore chapter

Silicon Valley think-tank Singularity University, which offers educational programmes and a business incubator, has officially launched a chapter here.

The organisation, which focuses on "using exponential technologies to tackle the world's biggest challenges", was founded in 2008 by renowned innovators Ray Kurzweil and Peter Diamandis.

The Singapore chapter consists of an active community, Singularity University programmes alumni, and community members "interested in exponential technologies".


TransferWise to open Asia-Pac HQ in S'pore

Online money transfer start-up TransferWise is locating its Asia-Pacific headquarters here, and aims to explore regional markets such as China, India and South Korea.

It expects to have 30 people in Singapore by the end of this year.

"The region is important for us as we expand globally, bringing our service to everyone in the world that transfers money internationally," said chief executive and co-founder Taavet Hinrikus.

"Singapore is the perfect location to grow our team here. The Monetary Authority of Singapore have demonstrated their commitment to making Singapore a place where fintech companies can flourish and we're excited to be part of that."

Valued at over US$1 billion (S$1.4 billion), TransferWise is backed by several high-profile investors, and customers in over 50 countries send about US$1 billion through its website every month.


SeedPlus closes $25 million debut fund

Singapore-based early-stage venture firm SeedPlus has raised $25 million for its first fund. Investors include Cisco Investments, the investment arm of Cisco Systems, and Eight Roads Ventures, the proprietary investment arm of Fidelity International.

SeedPlus was launched by Singapore-based venture capital firm Jungle Ventures last May and has already been backed by SGInnovate, Accel Partners (India), Mr Ratan Tata's RNT Associates and more.

Its recent investments include Moglix, an Indian business-to-business e-commerce platform specialising in the maintenance, repair and operations industry; Mimetic.ai, a Singapore technology start-up responsible for creating Evie, an artificial intelligence scheduling assistant; and Homage, a Singapore-based start-up that connects in-home caregivers with elderly people seeking assistance.

A version of this article appeared in the print edition of The Straits Times on May 02, 2017, with the headline 'Start@SG'. Print Edition | Subscribe