Singapore startups to look out for

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Hello readers,

It comes as no surprise that the first time Nasdaq decided to do a bell ringing ceremony in Southeast Asia, the US-based stock exchange did it in Singapore. Yes, the current cynosure of the media is Grab, which is headquartered in Singapore, but this event nicely coincides with the country steadily cementing its place as a commercial hub in Asia, much like how New York is for North America or Dubai is for West Asia.

These things don’t magically happen, of course. A lot goes into the making of an ecosystem that can churn out stories worthy of a pause – for instance, did you know that 46% of drivers did not make an income prior to joining Grab? That said, this is a good time to pay attention to the promising startups making their way up in the city-state’s tech scene.

Today we look at,

• 50 startups climbing up the ladder in Singapore
• Chinese-learning platform LingoAce raises funds
• Other newsy highlights such as Didi to delist from New York and move to Hong Kong, and Grab’s incentive-fueled growth

Premium summary

Singapore’s rising stars

Image credit: Timmy Loen

I’ve recently moved into a new apartment in the outskirts of Bengaluru. I can now write chapters on my bird sightings – a couple of Brahminy kites are building their nest right outside my window, while kingfishers, parakeets, and others regularly drop in from the forest and waterbody nearby. But as interesting as these individuals are, it’s when the swifts take to the skies that I drop everything just to see them perform seemingly choreographed rituals.

Thanks to my recent favorite author Helen Macdonald, I’ve learnt that these flights are called vesper flights, named after the Latin word “vesper” that means “evening.” To me, the startups in today’s premium pick are like the birds on these vesper flights: There’s a technique to every individual’s movement, and with their recent funding history, together they’ve made yet another noteworthy addition to Singapore’s skies.

• Variety, the spice of life: The sheer range of what these startups are doing caught my attention. For instance, while Qashier is a fintech platform that helps merchants digitize their businesses, Big Tiny builds houses for travelers in Australia, with plans to expand into New Zealand soon.

• Geography no bar: Our list also features startups that are looking for literal ways to make the world better, like RWDC Industries, which develops sustainable and earth-friendly materials to use as substitutes for plastic, as well as SpeQtral, which is making strides in the aerospace industry.

• Usual and not-so-usual suspects: No list of Singapore-based headturners is going to be complete without a nod to Carro, an automotive marketplace that offers a full-stack service for all aspects of car ownership. But there are some detours from usual suspects too, such as HipVan, an ecommerce platform selling furniture and home decor products.

Read more: 50 rising startups in Singapore

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