Series A funding

Solar power company NEFIN to raise US$150 mil and return to Singapore roots

SINGAPORE (Aug 23): Hong Kong Disneyland wants to be the island’s biggest producer of solar power, and is installing an expanse of solar cells the size of a football field on the rooftops of its buildings to yield 1.86 megawatt-hours of electricity per year. This is equivalent to the annual electricity consumption of 564 households, and 70% more than the next-biggest solar power site in Hong Kong.

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AI healthcare startup UCARE.AI secures $8.2 mil funding

SINGAPORE (May 16): UCARE.AI, a Singapore-based artificial intelligence (AI) healthcare startup, has recently concluded its Series A funding, bringing total investment to $8.2 million to date.

The Series A global investors included VC firm Walden International, insurance group Great Eastern, Singaporean investor and philanthropist Peter Lim, as well as law firm WongPartnership’s startup initiative WPGrowth Ventures.

Trendlines teams up with Ozi Amanat as Startup SG Equity co-investors

SINGAPORE (Feb 8): Trendlines Medical Singapore, a subsidiary of Israeli company The Trendlines Group, is partnering Singapore-based investor Ozi Amanat’s venture capital firm, K2 Global, to collaborate in SPRING SEEDS Capital’s (SSC) $100 million investment allocation via the Startup SG Equity scheme.

Under the Startup SG Equity scheme, SSC supports early-stage startups across the technology and industry domain areas, and catalyses private-sector investments for startups via government equity co-investment.

Canadian AI firm raises US$102 mil in Series A funding, to open Singapore office in 2H

SINGAPORE (June 15): Element AI, a Montreal-based artificial intelligence (AI) company, has raised US$102 million ($140.6 million) and says it will open a Singapore office during 2H17 to serve as a Southeast Asia hub, as part of its resultant expansion in the firm’s international capabilities.

The Singapore office will be the firm’s second office in Asia, with the first being in Japan.

In a Thursday press release, the firm says the funds raised represent the “largest Series A funding round for an AI company in history”.

Rocket startup takes off with $5.1 mil Series A funding

SINGAPORE (May 30): Australia-based rocket startup Gilmour Space Technologies, which also has operations in Singapore, has secured A$5 million ($5.1 million) to develop and launch their low-cost rockets for the small payload market.

In addition, Gilmour Space has been awarded a grant by Singapore’s National Additive Manufacturing Innovation Cluster (NAMIC) to develop aerospace-related 3D printing capabilities with the Singapore University of Technology & Design (SUTD).

Life insurance startup Singapore Life raises $70 mil in funding

SINGAPORE (April 27): Singapore Life has raised US$50 million ($70 million) in Series A funding round led by Hong Kong listed Credit China FinTech Holdings through its subsidiary, Impact Capital Holdings, as well as UK-based investment firm IPGL Limited.

In a Thursday press release, the life insurance startup says this marks the largest-ever Series A funding round by a Singapore-based insurance technology (insurtech) company.

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