Singapore start-ups catch investors' eye despite crisis

Plant-based meat start-up Karana closed US$1.7 million (S$2.3 million) in seed funding last month.
Plant-based meat start-up Karana closed US$1.7 million (S$2.3 million) in seed funding last month.PHOTO: RACHEL TANG FOR KARANA

Singapore start-ups in sectors such as technology and sustainability have caught the eye of investors amid the pandemic, with some operators beefing up their funding.

Plant-based meat start-up Karana closed US$1.7 million (S$2.3 million) in seed funding last month, while digital wealth management platform StashAway raised US$16 million in a recent funding round.

But a key challenge is that investors have turned cautious amid the economic uncertainty. "Investors are still active but pickier in terms of the criteria and assessment," said Professor Freddy Boey, deputy president of innovation and enterprise at the National University of Singapore.

SEE BUSINESS

A version of this article appeared in the print edition of The Straits Times on August 20, 2020, with the headline 'S'pore start-ups catch investors' eye despite crisis'. Subscribe