EDBI, NRF investment in London travel startup Everbread goes sour

Investment of undisclosed amount was made jointly by EDBI, the corporate investment arm of Singapore’s 51-year old Economic Development Board, and the National Research Foundation (NRF), which is funded by Singapore’s government. NRF matched EDBI’s investment under the Global Entrepreneur Executives scheme, which gets startups to relocate to Singapore. The GEE invests a maximum of SGD 3M (USD 2.34M). Everbread’s Singapore entity is also under liquidation.