Singapore start-ups clinch $14b in 2018 financing

Notable deals included technology company Grab's US$2 billion, Alchemy Foodtech's $2.5 million and healthcare app FriarTuck's US$3.63 million.
Notable deals included technology company Grab's US$2 billion, Alchemy Foodtech's $2.5 million and healthcare app FriarTuck's US$3.63 million.PHOTO: ST FILE

Start-ups in Singapore closed 353 financing deals worth US$10.5 billion (S$14.3 billion) last year, said Enterprise Singapore.

This is up from the 160 deals worth US$800 million in 2012.

Notable deals included technology company Grab's US$2 billion, Alchemy Foodtech's $2.5 million and healthcare app FriarTuck's US$3.63 million.

The agency released the figures as it launched the third edition of Slingshot, an international start-up competition, last Friday.

SEE BUSINESS

A version of this article appeared in the print edition of The Straits Times on April 29, 2019, with the headline 'S'pore start-ups clinch $14b in 2018 financing'. Print Edition | Subscribe