Miguel Cordon · · 1 min readSGInnovate names new co-investors to focus on AI, medtech
SGInnovate, a Singapore government agency enabling deep tech startups, named five new co-investors under its Startup SG Equity scheme.
The new partners include Elev8.vc, Gree Ventures, ST Engineering Ventures, Verge Capital Management, and Golden Gate Ventures, together with its blockchain-focused fund LuneX Ventures. They will focus on early-stage deep tech startups in fields like artificial intelligence and medtech, the agency said in a statement.
Photo credit: SGInnovate
The five new partners join SGInnovate’s 17 current co-investors announced in December 2017.
The first deal to be completed with one of the new co-investors is a seed investment with LuneX Ventures in Merkle Science, a risk management firm for blockchain.
To date, SGInnovate and its co-investors have completed 22 deals with startups focused on deep tech, collectively investing roughly US$38 million. The total number of investments is estimated to reach around US$59 million by 2020.
Recently, SGInnovate participated in a funding round for AIDA Technologies, a startup that uses machine learning to generate insights for financial services companies.
Editing by Charmaine de Lazo
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