Let us look at some of the top Singapore startups for 2019 that are being watched out for spectacular growth after raising substantial funding in 2018. These companies are the top companies among the 200+ startups that participated in funding rounds this year.
The island city of Singapore has grown tremendously as a startup hub and how! The city?s business environment is one of the most conducive ones in the region and has a local government that has taken utmost care to ensure that starting and running a startup or any small business is a smooth affair.
Top Singapore Startups to Watch Out for in 2019
Lazada is a top startup in Singapore in the city?s ecommerce fabric that is expected to grow by leaps and bounds in 2019. It is one of the highest funded startups of 2018 and ha raised $4.2 billion since its inception. The startup concreted its places among the top Singapore startups for 2019 after pocketing $2 billion from the Alibaba Group. Lazada is a popular online selling and buying site offering a wide array of products over 3,000 brands. The Singapore based startup came into being in 2012 with the help of 10 founding partners who laid its strong foundation to take over the ecommerce industry in the? ASEAN region.
Singapore based startup? AirTrunk made headlines this year raising $621 million in financing from Goldman Sachs (lead investor) and Deutsche Bank. It is a high-end data center startup that was established by Robin Khuda in 2014 and has gained the status of a top startup in Singapore in a short span of time since its inception. AirTrunk plans to use the fresh funds to materialize their expansion plans to Australia and the other Asia Pacific regions. It has completed only two rounds of funding till date and the second one helped it warrant itself a place among the top Singapore startups for 2019.
Grab was co-founded by Anthony Tan and Tan Hooi Ling in 2012. The company is among the top Singapore startups for 2019 that is expected to bring in the heat with their growth activities. Grab is a leading mobile payment and ride-hailing platform that seeks to make transportation and payment processes more advanced. This top startup in Singapore has raised total investments of $650 million in the different closes of Series H round. With the completion of this round, the total funding raised by the company amounts to $ 6.8 billion. iKaaz, an Indian mobile payment solution provider, was acquired by the Singapore based startup? 2018. This is the second acquisition for Grab.
The next company on our list of top Singapore startups for 2019 is fast growing tech startup Trax. It was founded in 2010 by Joel Bar-El and Dror Feldheim who set out to revolutionize the retail industry with the introduction of its innovative image recognition technology. This top startup in Singapore acquired retail intelligence company Quri at the beginning of 2018 which was followed by one of its largest funding round till date. The Singapore based startup raised $125 million in equity funding from Boyu Capital in this round. Trax has operations in Europe, Middel? East, North and South America and is associated with the likes of Heineken, Nestle,? and Henkel.
Singapore based startup Carousell completed its Series C round of funding in May 2018 raising $85 million from lead investors Rakuten Capital and EDBI.? Other investors that also participated in this round were Sequoia Capital India, Golden Gate Ventures, DBS Bank, and 500 Startups. Caroussel is a mobile listing service startup that was set up in 2012 by Lucas Ngoo, Marcus Tan Yi Wei, and Quek Siu Rui to encourage more people to buy and sell things online. The company is one of the top Singapore startups for 2019 that is expected to strengthen its positions in the market with the fresh funds received.
Carro is among the top Singapore startups for 2019 in the automotive marketplace segment. The company is the brainchild of Aaron Tan who set up the company in 2015 to make it easier to sell and buy used cars. The Singapore based startup has found a lot of popularity and as it slowly grew from being just an online marketplace to more services that included financing, roadside assistance, and insurance brokerage. In May 2018, the company raised $60 million in Series C, the most recent round of funding for the Singapore based startup. The round was led by Softbank Ventures Korea and Insignia Venture Partners.
The next fast-growing company on our list of top Singapore startups for 2019 is ecommerce brand Zilingo. The startup has $81.9 million in its kitty so far from four funding rounds. The most recent round was the Series C round which was announced in April 2018. Zilingo raised $54 million in this round from nine investors with Sofina, Sequoia Capital India, and Burda Principal Investments as the lead investor. The Singapore based startup started off as a simple online marketplace but today also offers a host of other services including fintech, Private Label as a Service, and E-POS among the others. Ankiti Bose and Dhruv Kapoor founded the Singapore based startup in 2015 which has become a stalwart in its segment in this short span.
Ark Bio is one of the highly funded medical tech companies this year among the top Singapore startups for 2019. The company was founded by Isaac Ho, Zhou Lihan,? and Zou Ruiyang that is working for finding early cancer detection solutions by leveraging the power of microRNA and data science. It was established in 2018 and is the youngest startup among the top Singapore startups for 2019. ?Ark Bio is working one of the most prominent clinical trials in Asia and will be soon launching easily available in-market products to help with early cancer screening. The Singapore based startup completed its Series A (first funding round) in November 2018. The round was led Venturecraft? Group and Gaorong Capital raising $40 million for the novel startup.
Singapore based startup Honestbee was founded in 2015 by Isaac Tay, Joel Sng, and Jonathan Low. The company is an online marketplace for various kind of food services and is presently available in eight countries. It rose to join the ranks of top Singapore startups for 2019 owing to the funding round completed this year that has got the various startup players watching out to see how well Honesbee uses the new funds. The most recent round was the Series A round in which the Singapore based startup raised $31 million. The total funds received by this fast growing startup stands at $46 million.
These are the top Singapore startups for 2019 that are already creating a lot of traction and have created the financial foundation to grow further. The tech sector is soaring owing to these companies with the fintech sub-sector shining the most. Singapore was featured among the top startup ecosystem in the Global Startup Ecosystems Report 2018 by Startup Genome and is one of the top startup hubs where entrepreneurs can get easy access to ample funding.
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