Singapore-based Inverted Edge, an upcoming online fashion store, has announced today that it has raised SGD 2M (USD 1.6M) from IncuVest, Accel-X, and four other undisclosed private investors.
The Singapore government’s National Research Foundation also participated in this round through Incuvest via the Technology Incubation Scheme.
Soon to be launched, Inverted Edge finds itself in an increasingly crowded space dominated by blogshops and multi-label retailers like ASOS and Zalora. Read more
Sogamo, a Singapore-based real-time analytics and personalization engine for social games, has recently closed USD 500K in seed funding from Incuvest and NRF under the Technology Incubation Scheme (TIS). The funds will help ZelRealm, the company behind Sogamo, scale and market their product. Read more
The Bootcamp is a technology startup accelerator program in Singapore (part of the Global Accelerator Network) where participants build a prototype within 100 days. Demo Day was on 4th May, 2012.
The eight incubators are: Get2Volume, Golden Gate Venture Investments, Incuvest, Jungle Ventures, Red Dot Ventures, The Biofactory, The Network Fund (TNF), and WaveMaker Labs. Full details in the press release.
Under TIS, the NRF will co-fund up to 85 percent of total investment per company, or up to S$500k (US$400k), with the rest topped up by the venture firm. Only Singapore-based startups need apply.
The incubators can choose to buy out NRF’s equity share within three years of investment, at a price of 1.1 times capital in the first two years, and 1.15 times capital in year three.
Born in 2006, the NRF dictates the country’s direction for R&D by developing national policies and planning strategies for innovation, enterprise, and research. Read more
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