Top Startups in Singapore to Watch in 2019

Earlier, the ‘lack of an entrepreneurial culture’ has regularly been quoted as a barrier to growing startups in Singapore. Also, the high cost of living in Singapore regulated many locals towards “safer” jobs with MNCs.

Thanks to a thriving business economy, low taxation, and government grants,  Singapore now serves as a hotbed for startups and entrepreneurs with TEA above 10, double that of Germany and higher-ranked countries with sophisticated ecosystems like Israel and the UK.

Without further ado, here’s our list of the most interesting startups in Singapore to watch out for in 2019.

Top Singapore Startups to Watch Out for in 2019

Atlan

 

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IndustryBig Data, Data Integration, Database, Information Technology, Software.

Founded Date: Jan 2018

Total Funding Amount: $2.4M+

FoundersPrukalpa Sankar, Varun Banka

While working with SocialCaps on large-scale data projects, the founders of the Atlan developed tools to help data teams collaborate easily.

Later, they developed a data democratization platform, which is now Atlan. It allows data teams to truly democratize both internal and external data while automating repetitive tasks.

GoComet

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Industry: Enterprise Software, Logistics, SaaS, Software

Founded Date: Aug 2016

Total Funding Amount: $2.2M+

Founders: Ayush Lodhi, Chitransh Sahai, Gautam Prem Jain, Mehul Katiyar

Founded by highly passionate engineers from IIT Delhi, GoComet connects enterprise businesses and shipping forwarders to expedite the effortless movement of cargo with the help of technology.

Working with many global forwarders, strong marketplace traction, and a new round of funding, GoComet is focused on solving the problem of International Logistics.

robin

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Industry: Employment, Enterprise Software, Human Resources, Information Technology, Recruiting, Software

Founded Date: Jun 27, 2018

Total Funding Amount: Bootstrapped

Founders: Ardy Satria Hasanuddin, Siddharth Kumar

If you are hiring, and think that reference checking is a pain, robin will help you remove that pain!

robin is an automated reference check platform that provides reports that go beyond mere fact-checks and provide you with qualitative data-driven insights. With the help of technology, robin enables an efficient collection of qualitative data that will aid you in your decision-making as you search for the right fit for your company.

AvPlat

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Industry: Air Transportation, Information Technology, Software

Founded Date: Aug 2, 2018

Total Funding Amount: Bootstrapped

Founders:  Mir Abid Hussain, Sylvester Monie

AvPlat is a revolution for the aviation industry. AvPlat is used by jet operators to plan and operate flights.

It is an all-in-one application that builds itineraries, plans the route, book permits, arranges services such as ground handling, fuel, catering, transportation, airport charges and much more without the need to make a call or send an email.

UrbanAgents

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Industry: Real Estate

Founded Date: Mar 2018

Total Funding Amount: SGD 2M

Founders: Michael Cho

UrbanAgents is an AI-powered Proptech startup. It changes the way real estate buyers and sellers relate to each other by providing a more effective real estate service by taking advantage of new technologies.

UrbanAgents also offer an exclusive marketing service for each client by establishing direct communication between people interested in buying and selling a property, saving intermediation costs.

Beam

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Industry: Electric Vehicle, Last Mile Transportation, Transportation

Founded Date:  2018

Total Funding Amount: $6.4M +

Founders:  Alan Jiang, Deb Gangopadhyay

Beam is an e-scooter company that simplifies first mile & last mile transportation. It is focused on expanding transportation options in Asia beginning with e-scooters.

Whether looking to tour leisure spots, run an errand, or make a delivery, Beam trip lets you travel efficiently, diminish your environmental footprint and have fun as you go.

Dapp.com

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Industry: Blockchain, Marketplace, Social Network

Founded Date:  Apr 2018

Total Funding Amount: $1.2M +

Founders: Eric Jiang, Jun Gong, Kyle Lu

Dapp.com is a blockchain platform that discovers and examines thousands of ranked dapps built on Ethereum, EOS, etc.

Dapp.com makes you understand what blockchain and decentralized networks are all about, why it’s so exciting, and how you can use it – either as a developer or as a user.

Gigacover

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Industry: Financial Services, FinTech

Founded Date:  2017

Total Funding Amount: Undisclosed Amount

Founders: CX Cheng Xun C, Amerson Lin

GigaCover co-created new insurance solutions for freelancers to have their flexible and affordable income protection insurance.

GigaCover has different insurance solutions such as the region’s first extended medical leave income protection product, as well as a suite of general insurance products backed by Etiqa and AXA.

Lifesight

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Industry: Advertising Platforms, Data Visualization, Digital Marketing, Location Based Services, Market Research, Mobile Advertising, Test, and Measurement

Founded Date:  2017

Total Funding Amount: $2M +

Founders: Rohit Maheswaran, Tobin Thomas
Lifesight is an AI-powered enterprise level SaaS platform for Brands concerning local intelligence. It provides real-time information on places, people and products.

It also offers in-store, product development, mobile marketing, targeting and attribution solutions for brands and agencies.

Antler

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Industry: FinTech, Financial Services, Venture Capital

Founded Date:  2017

Total Funding Amount: $3M +

Founder:  Fridtjof Berge, Jussi Salovaara, Magnus Grimeland, Vegard Medbo

With a mission to turn entrepreneurs into great founders, Antler Global helps you find the right co-founder and connect them to a top tier network of advisors and experts worldwide.

It also provides funding and helps you build strong teams from the ground up, while empowering founders to swiftly launch and scale their ideas.

Indorse

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Industry: Blockchain, Ethereum, Skill Assessment, Social Network, Virtual Currency

Founded Date:  2017

Total Funding Amount: $15.8M +

Founder: Avadhoot Kulkarni, David Moskowitz, Gaurang Torvekar

Indorse is a blockchain-powered skills validation platform that provides online skill evaluation and innovation management services for developers.

By using blockchain technology, Indorse has helped businesses from sorting through thousands of applicants to making informed hires within days, using a shortlist of candidates proven to have the right skills for the role.

Funding Source: CrunchBase

 

 

10 Best Coworking Spaces in Singapore

Thanks to the thriving economy, Singapore is turning out to be a hotbed for startups. The need for Co-working places is the new rage in town. We’ve picked the 10 best coworking spaces in Singapore where you can think, work, create, and collaborate.

Top 10 Coworking Spaces in Singapore

WeWork on Robinson

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Amenities: Work Desk,  Lounge / Chill-out Area, High-Speed WiFi, Air Conditioning, Cafe, Kitchen.

Price: 

  • Open hotdesk – SGD 590.00
  • Dedicated desk – SGD 740.00
  • Private office – SGD 1220.00

Location: 71 Robinson Road, Singapore, Singapore

With 11 locations within the city, WeWork is already one of the best coworking brands in Singapore. However, WeWork’s coworking space at Robinson Road is an ecosystem that offers frequent networking sessions and quirky ad-hoc events where you can find a mix of creators, leaders as well as self-starters.  

With breathtaking views of the vibrant metropolis and Singapore Strait, WeWork on Robinson spans over three floors in a modern 15-story tower and features everything from soundproof phone booths to foosball machines.

The Great Room

the_great_room_one_george_street.jpgAmenities: Enterprise Grade Wifi,  Monday Breakfast Club, Private Phone Booths, Air Conditioning, Cafe, Mail, and Package Handling.

Price: 

  • Open hotdesk – SGD 750.00
  • Day Pass  – SGD 70.00
  • Private office – SGD  2500.00

Location: 1 George Street, Level 10, Singapore.

Located in the heart of Singapore, the Great Room, as its name suggests, oozes with grandeur and luster. This is a haven that looks more like a swanky hotel lobby with plush brown leather sofas, hardwood floors, and finely crafted timbre desks for you to get comfortable.

 

With offices like The Great Room, you can have solitude to focus on and thus achieve your objectives. They also have event suites, meeting rooms and business lounges for members to use. 

The Hive

the_hiveAmenities: Ergonomic Chairs, Community Lunches, and drinks, Facebook Group for Members,  Lounge / Chill-out Area, High-Speed WiFi, Air Conditioning, Cafe, Alcohol available for purchase.

Price: 

  • Open hotdesk – SGD 210.00
  • Dedicated desk – SGD 450.00
  • Private office – SGD 1800.00
  • Day Pass – SGD 35.00

Location:  59 New Bridge Road, Singapore.

The Hive is located right in the middle of hip HongKong Street.  For only $20-$25, you can have access to their desks, lounge area as well as the lovely rooftop café – plus 24/7 access to its members. 

There are also regular events and sections like MakerHive which brings a new element to the Hive network. It suits designers, architects, creative freelancers, fashion designers, entrepreneurs, and small companies.

The Co.

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Amenities: Ergonomic Chairs, Lounge / Chill-out Area, High-Speed WiFi, Air Conditioning, Cafe, 24hr Member Access

Price: 

  • Open hotdesk – SGD 600.00
  • Dedicated desk – N/A
  • Private office – N/A
  • Day Pass – SGD 45.00

Location:  99 Duxton Road, Singapore 089543

Designed more like a café than an office, The Co has several stories in a very modern design with a shared desk area, a floor with meeting rooms, and floors with longer rentals making it perfect for hipsters. This co-working space has all the typical amenities with fresh water, fridge, coffee, Skype rooms and so on.

Besides, providing complimentary coffee and tea for its members, The Co. is powered by a diverse collection of spaces and services created to facilitate networking and collaboration among peers. 

The Working Capitol

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Amenities: Ergonomic Chairs, Lounge / Chill-out Area, High-Speed WiFi, Air Conditioning, Cafe, Alcohol available for purchase, 24hr Member Access

Price: 

  • Open hotdesk – SGD 255.00
  • Dedicated desk – SGD 700.00
  • Private office – N/A
  • Day Pass – SGD 79.00

Location:  1 Keong Saik Road, Chinatown, Singapore

If you’re north of Singapore, then Working Capitol can be the right choice for you. From private workspaces to permanent work desks, The Working Capitol gives you more flexibility when choosing your preferred working environment. 

This is a cozy space with 24/7 accessibility, movie screenings, an in-house café, and a stunning view of shophouses skyline. 

JustCo

JustCo-coworking-space-singapore-e1543203412273Amenities: Ergonomic Chairs, Lounge / Chill-out Area, High-Speed WiFi, Air Conditioning, 24hr Member Access, Cafe, Alcohol available for purchase

Price: 

  • Open hotdesk – SGD 398.00
  • Dedicated desk – SGD 750.00
  • Private office – SGD 2850.00
  • Day Pass – SGD 50.00

Location: 120, Robinson Road, Singapore

Spread over four floors of the Parakou building, JustCo provides you with a view of the city’s skyline, and there are lots of opportunities for collaborations and discussions with booth buddies. It is also a place to build network connections with an inspiring community.

JustCo is more like a cafe than an office with high ceilings and a ping pong table thrown in for good measure.

MOX

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Amenities: Ergonomic Chairs, Lounge / Chill-out Area, High-Speed WiFi, Air Conditioning, Cafe, Community Lunches, Events, Workshops, Nap Room, 24hr member access

Price: 

  • Open hotdesk – SGD 150.00
  • Dedicated desk – SGD 400.00
  • Private office – SGD 1000.00 for two people
  • Day Pass – SGD 30.00

Location: 451 Joo Chiat Road, Katong Point, Singapore 427664

Designed with creatives in mind, Mox is perfect for those with a creative tendency of mind. They offer novel amenities like a 3-D printer, carpentry desk, a photography studio workshop with lighting equipment and work stations with the latest design software. 

Mox is Singapore’s first and largest independent design resource workspace for artists, illustrators, designers, and entrepreneurs.

Trehaus

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Amenities: Ergonomic Chairs, Lounge / Chill-out Area, High-Speed WiFi, Air Conditioning, Cafe, 24hr member access.

Price: 

  • Open hotdesk – SGD 500.00
  • Dedicated desk – SGD 800.00
  • Private office – SGD 3200.00
  • Day Pass – SGD 50.00

Location: 442 Orchard Road, Claymore Connect, Singapore

If you’re a working parent, then Trehaus is the right place for you. This is the first co-working space that’s complete with childcare,  and a hybrid between a co-working space and a childcare center.

Being a working and present parent is very challenging. Thankfully, Trehaus has heard the parents’ plea for help. In Trehaus, you can bring your kids to work at a conducive workspace where they’ll be cared for while you embark on your career.

Camelia & Co.

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Amenities: Standing Desks, Lounge / Chill-out Area, High-Speed WiFi, Air Conditioning, Cafe, Community Lunches and Drinks, Events, Workshops, Printers, 24hr member access

Price: 

  • Open hotdesk – SGD 350.00
  • Dedicated desk – SGD 550.00
  • Private office – SGD 1500.00
  • Day Pass – SGD 25.00

Location: 4 Jln Klapa, Singapore, Singapore

Located on the fringe of the city, Camelia & Co. aims to enable businesses to coexist together under one roof.

Popular for being one of the most interesting coworking spaces in Singapore, Camelia & Co. is very cozy and comfortable with modern space where professionals, freelancers, and entrepreneurs can be themselves, open up and most importantly to share and connect.

Found8 Prinsep

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Amenities: Standing Desks, Lounge / Chill-out Area, High-Speed WiFi, Air Conditioning, Cafe, Table Football, Free Beer, 24hr Member Access, Library 

Price: 

  • Open hotdesk – SGD 345.00
  • Dedicated desk – SGD 770.00
  • Private office – SGD 3000.00
  • Weekly Pass – SGD 275.00

Location: Multiple Locations

Found8 is very stylish with plenty of space, stand up desks, skype booths, etc to work comfortably and efficiently. Located at the heart of the city and close to all major public transport lines, Found8 is one of the best coworking spaces in Singapore.

Also, the members of Found8 get access to the registration of the business address as well as to the mail management. 

An Interview with Singapore’s Most Active Accelerator and Investment Firms

Singapore Merlion LandmarkStartups in the Southeast Asia are growing at a healthy rate, as more and more entrepreneurs along with investors are creating a robust ecosystem. Singapore is undoubtedly one of the most prominent places when it comes to startup scene in the SEA region. In order to get more insights on the startup ecosystem of Singapore we got in touch with Hugh Mason (Co-founder & CEO, JFDI – Joyful Frog Digital Incubator), Jeffrey Paine (Founding Partner, Golden Gate Ventures)  and Menka Sajnani (Corporate Development at Jungle Ventures). Before we go ahead, let us first introduce you to JFDI, Golden Gate Ventures and Jungle Ventures.

JFDI (Joyful Frog Digital Incubator):

Established in Singapore by Hugh Mason and Meng Wong in 2010, JFDI creates and invests in new digital ventures, building them systematically from startup to success. JFDI is best known for its Accelerate program, which has until now launched 70 startups with around 50% of the startups securing follow-on investment of more than S$500,000.

Jungle Ventures:

Jungle Ventures is a Singapore based venture capital firm with a focus on early stage investments in the regions across Asia Pacific (specifically in Singapore, India and South East Asia). They also operate a seed fund and incubator in Singapore and India, which is in sync with the concept of angel investments.

Golden Gate Ventures:

Founded in 2011, Golden Gate Ventures invests in early stage companies predominantly in the Southeast Asia. Till now they have invested in more than 25 companies present in more than 7 Asian countries. This VC firm has built strong bond with Valley and currently playing a major role in establishing Singapore as Asia’s hub of technology and innovation.

Hugh Mason Jeffrey Paine Menka Sajnani

Given below are the questions and their respective answers:

Q. What are the hurdles for Singapore to produce a disruptive billion-dollar company? Can such a company emerge in the next 5 years?

Hugh Mason:
Well Grab is apparently a $1.5b company already so for sure it can happen. The barrier is probably in our heads rather than in anything more material.

I wonder if the billion dollar opportunities for Singapore are to build businesses that are about business model innovation, making products and services available to the 600 million people in South East Asia, rather than technology innovations.

I sat next to an Indian guy on a panel at a conference a few months back. He said – you know there are 500 million Indians who just need a toilet. They don’t disruptive toilet technology, they just need a toilet.

I am not suggesting that sanitary-ware is the next frontier for unicorns but I guess his comment makes the point.

Jeffrey Paine:
5-10 years yes.
If its for global markets – need more future tech entrepreneurs who can play at the big leagues.
If its for SE Asia – its timing. The timing will be  there in 5-10 years. SEA is like China in 2003.

Menka Sajnani:
Talent is the biggest bottle neck in the region. Getting execution right is a real challenge, and therefore working with the right partners is critical.

With smart capital, the right support framework, and a regional business model, it is possible to create billion-dollar company in Singapore.

Q. Which emerging trend excites you most in 2016, particularly in Southeast Asia?

Hugh Mason:
The rise of the middle class and the opportunities to re-invent the basic infrastructure of an advanced society for the developing population in our region. For example: unbundling healthcare.

Jeffrey Paine:
Anything consumer facing and addressing a real local problem, solving it in a local way.

Menka Sajnani:
Robotics is exciting, the Sharing Economy is also something to watch out for.

Q. What’s your opinion on crazy valuations of some of the startups in recent times? What’s the effect on Singapore based startups?

Hugh Mason:
It feels like we have seen a necessary correction in the US that may still have some way to shake out. Singapore entrepreneurs might wish to re-calibrate their expectations if they want to get funded or to avoid future down rounds.

Jeffrey Paine:
US valuations do affect SEA valuation a little, especially Indonesia but it has started to cool off since Jan 2016.

Menka Sajnani:

We expect the hype to cool down and markets to rationalize over the next 6 to 12 months. We would like large winner-takes-all funding to stop, however it may not.

Q. Where do you see Singapore in the startup space when we compare with Valley, Tel Aviv and London?

Hugh Mason:
I think it has a great future ahead of it that will be different to all those places because the culture and ecosystem of this part of the world are very different.

Jeffrey Paine:
It will stand its ground but it is too early to tell for now. Right now it seems to be a great hub to address SE Asia.

Menka Sajnani:
We believe things are evolving in the right direction to make Singapore a real startup hub, and the support from government initiatives has been tremendous.

Q. As per a report published by e27, Singapore has seen 25 exits since 2013 and 9 exits in 2006 – 2012. Over the next 3 years, how do you think the M&A scenario will take shape?

Hugh Mason:
I guess it all depends on the macroeconomic situation. A real, rather than imagined, downturn could just kill risk-taking for a while.

Assuming that doesn’t happen I think it’s helpful to think of M&A being something that happens at the top of a staircase where startups have to hop up the stairs to become M&A candidates, getting funding rounds and passing milestones along the way. So it makes sense to think of the whole system generating deal-flow on a continuous basis.

Looking at the bottom steps on the staircase, right now some fear has hit angel investors, for whom investment is always discretionary, so they are sticking their money into gold not startups. The fact that founders’ expectations of valuation is overcooked is also a factor IMHO.

So that means that there may be a dearth of strong businesses to make it through to Series A and beyond, a bit further up the staircase, limiting the M&A opportunities a few years’ down the line.

In the meantime there are a few candidates for M&A still making their way towards the acquisition stage, not least some of JFDI’s strongest alumni, so I think we will still see M&A happening so long as the economy doesn’t fall off a cliff.

Jeffrey Paine:
If the overall economy and markets are strong, there will be more acquisitions. Lots of startups are creating value as we speak but it does takes time to fully scale out.

Menka Sajnani:
We expect to see a high level of interest from Chinese companies, in fact it has already started.

Following was asked only to Hugh Mason.

Q. How has been your experience while running JFDI Discover? What’s the success rate of teams taking part in this, in terms of launching prototype or raising fund?

A. Actually JFDI Discover doesn’t aim to help teams launch prototypes or raise funds. It’s a pre-accelerator program that is much more fundamental. It helps teams step up the lowest level of the staircase and aims to help teams discover the following:

1) who is their customer

2) what problem are they solving for that customer

3) do they want to be an entrepreneur

4) what’s it like to work with these team-mates

All in 21 days without having to give up your day job. Only then, if they want to, would making a prototype be a next step with fundraising still a long way off.
By and large the roughly 900-1000 entrepreneurs who have been through it say that they have found it very useful. Many weren’t doing it with the intention of starting a business – they just want to find out what entrepreneurship is like – just as some people go along to a basic drawing course even if they don’t intend to become full time artists. That said of course some have gone on to raise funding – for example QLC and Greyloft, both of which went on from JFDI Discover to JFDI Accelerate, or teams that raised money independently, like Teach!Me.

Following was asked only to Jeffrey Paine.

Q. Golden Gate Ventures started operating in 2011 and by the end of 2015, the total number of investments has crossed 30. How many deals one expect in 2016? Will you look at regions other than Singapore in the SEA?

A. We included Hong Kong and Taiwan in our strategy for fund 2 and will continue to invest in 2016.

Following was asked only to Menka Sajnani.

Q. How many investments can someone expect from Jungle Ventures in 2016?

A. We would prefer not to disclose this. However, we expect to have an active 2 years in terms of deal-making.

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