EDBI

EDBI, established in 1991, is the corporate venture capital arm of the Singapore Economic Development Board, located in Singapore. The firm specializes in investing in high-growth technology sectors, including Information and Communication Technology, Emerging Technology, and Healthcare, among others. EDBI focuses on supporting companies that aim to expand in Asia and globally, leveraging its extensive network, resources, and expertise to help these businesses achieve their ambitious goals. As a value-creating investor, EDBI provides patient capital to foster growth and innovation across various strategic industries.

Paul Ng

Managing Partner

Jolene Ooi Ph.D

Partner, Investments

Chung Hang Tang

Principal

Heng Tong Choo

Executive Vice President and Executive Board Member

Chu Swee Yeok

CEO and President

Andrew Ekaputra Ph.D

Principal

Christine Giam

Partner

Past deals in Singapore

LXA

Seed Round in 2023
LXA is a fintech venture focused on reimagining Asia's mortgage ecosystem. Geared towards matching institutional capital pools and residential mortgage borrowers, this platform aims to utilize end-to-end technology to streamline the entire mortgage lifecycle, from loan origination and borrower processing to loan servicing. LXA was founded in early 2023 by seasoned executives across the asset management, insurance, mortgage, and technology industries to bridge the gap between mortgage assets and institutional capital in Asia, beginning with Singapore. Combining best practices from North American and European markets with a proprietary technology platform focused on digital credit decisioning and intelligent workflow orchestration, LXA provides the first of its kind solution to address strong demand from Asian insurers and borrowers for differentiated mortgage products.

Mirxes

Series D in 2023
Mirxes is a biotechnology company that discovers, develops, and delivers accurate preventive healthcare solutions for cancer, cardiovascular, metabolic and infectious diseases. The company's mission is to make diagnostic solutions for the early detection of diseases accessible on a global scale. It develops and commercializes accurate and non-invasive blood-based miRNA test kit products for the early detection of cancer and other diseases.

LionsBot

Series A in 2023
LionsBot International is a Singapore-based robotics company specializing in the development of autonomous cleaning robots for commercial, industrial, and public spaces. The company focuses on creating highly versatile cleaning solutions by integrating advanced technology, including human-centered AI, 3D LiDAR sensors, and auto-docking mechanics. These innovations enable their robots to efficiently vacuum and scrub large areas, significantly enhancing cleaning speed and effectiveness. All software and hardware are developed in-house, ensuring comprehensive knowledge and support for their products. LionsBot aims to transform everyday living for over 50 million people by providing smart cleaning robots that are reliable and user-friendly.

Doctor Anywhere

Series C in 2022
Doctor Anywhere is a Singapore-based telehealth company that offers a comprehensive digital platform for on-demand healthcare solutions. It provides quick access to a range of health and wellness services, allowing users to consult licensed medical professionals for diagnoses, medications, and e-prescriptions from anywhere and at any time. The platform is designed to be simple and convenient, catering to the evolving lifestyle preferences of modern users. By leveraging technology, Doctor Anywhere aims to enhance health outcomes and address contemporary healthcare challenges, making it easier for individuals to manage their health according to their specific needs.

Fazz

Series C in 2022
Fazz is a financial technology company based in Singapore and Indonesia, founded in 2016. It focuses on providing digital financial services to enhance financial inclusion across Southeast Asia, particularly targeting underserved segments such as micro and small enterprises. Fazz offers a range of services including payment processing, banking, and investment solutions tailored for small businesses, startups, and large corporations. Its flagship offerings include Fazz Agen, an agent-based financial application designed for micro and small businesses, and Fazz Business, a comprehensive business account that facilitates payments, capital growth, and funding opportunities. The merger of PayFazz and Xfers has strengthened Fazz's position in the fintech landscape, enabling it to deliver diverse financial services to consumers and businesses alike.

RVAC Medicines

Series B in 2022
RVAC Medicines is an mRNA platform company founded in 2021 and based in Singapore. It focuses on developing a diverse pipeline of innovative vaccines and therapeutics to address unmet medical needs, particularly in emerging markets. The company is dedicated to producing cutting-edge mRNA and nucleic acid delivery technologies through its advanced GMP manufacturing facilities. RVAC Medicines offers end-to-end manufacturing capabilities and supports process scale-up and technology transfer, allowing for the development of both single and multi-mRNA/DNA products. This infrastructure aims to empower healthcare professionals in their efforts to combat infectious diseases.

Us2.ai

Series A in 2022
Us2.ai is a Singapore-based company that develops artificial intelligence-driven software and digital tools specifically for echocardiography. The company offers online solutions that streamline access to results from echocardiogram analyses and heart ultrasounds. Its machine learning platform automates the traditionally manual process of measuring and interpreting echocardiograms, enhancing the efficiency of cardiovascular research and clinical trials. By providing AI-based decision support tools, Us2.ai aims to save physicians time, improve the accuracy of clinical trials for pharmaceutical companies, and assist in the detection of conditions that are often overlooked or difficult to diagnose in hospital settings.

Mirxes

Series C in 2022
Mirxes is a biotechnology company that discovers, develops, and delivers accurate preventive healthcare solutions for cancer, cardiovascular, metabolic and infectious diseases. The company's mission is to make diagnostic solutions for the early detection of diseases accessible on a global scale. It develops and commercializes accurate and non-invasive blood-based miRNA test kit products for the early detection of cancer and other diseases.

Modalku

Series C in 2022
Modalku is an online marketplace based in Jakarta, Indonesia for small businesses to acquire loans and for lenders to fund small business loans to earn compelling returns. Its technology-based approach enables borrowers to receive loans for the first time or at lower than market rates, while lenders will earn returns well above that of bank deposits, traditional fixed income products, and life insurance investment-linked products. This marketplace lending model is proven in countries such as USA, UK, China & Singapore.

Next Gen Foods

Series A in 2022
Next Gen Foods is a food-tech startup that offers plant-based meat products. Its plant-based products look and taste like meat and are developed using agricultural food ecosystems helping consumers to have foods that are rich in protein and nutrients. The company was founded in 2020 and is headquartered in Singapore.

Funding Societies

Series C in 2022
Funding Societies, established in 2015 and headquartered in Singapore, operates a digital financing platform that connects small and medium-sized enterprises (SMEs) with investors. The company facilitates business loans, focusing on quick and efficient financing solutions, often bypassing traditional banking methods. It offers a range of flexible financing options, including micro and term loans, and invoice financing, using advanced credit scoring and risk assessment models. With operations across Southeast Asia, including Singapore, Malaysia, Indonesia, and Thailand, Funding Societies caters to SMEs seeking accessible and timely financing.

ShopBack

Series E in 2021
ShopBack is a leading online shopping platform in Southeast Asia that focuses on enhancing consumer purchasing decisions through cashback and rewards. Operating in several countries including Singapore, Malaysia, Indonesia, the Philippines, Thailand, and Taiwan, the company facilitates over 1,000 orders per hour by offering up to 30% cashback on purchases made through its platform. With a portfolio of over 1,300 merchant partners such as Uber, Expedia, and Lazada, ShopBack provides consumers with curated deals while simultaneously delivering effective marketing solutions for its business partners. The company is recognized for its impact in the industry, having received multiple awards, including accolades for Best Start-up and Best Innovative Infocomm Products at the Singapore Infocomm Technology Federation Awards, as well as the Emerging Enterprise Award, highlighting its role in enriching the shopping experience for consumers.

Mirxes

Series C in 2021
Mirxes is a biotechnology company that discovers, develops, and delivers accurate preventive healthcare solutions for cancer, cardiovascular, metabolic and infectious diseases. The company's mission is to make diagnostic solutions for the early detection of diseases accessible on a global scale. It develops and commercializes accurate and non-invasive blood-based miRNA test kit products for the early detection of cancer and other diseases.

Neon Group

Private Equity Round in 2021
Neon Group is a global entertainment company headquartered in Singapore, specializing in creating and producing immersive experiences across various domains, including exhibitions, events, and interior architecture. The company has established partnerships with prominent organizations, including The Walt Disney Company, Marvel Entertainment, 20th Century Studios, and NBCUniversal, to develop popular themed exhibitions such as Marvel Avengers S.T.A.T.I.O.N. and Jurassic World: The Exhibition. Additionally, Neon collaborates with the governments of Peru and Egypt to present unique cultural experiences, showcasing original artifacts through exhibitions like Machu Picchu and Ramses the Great. With a commitment to delivering compelling and memorable experiences, Neon Group has successfully engaged millions of visitors across more than 60 cities worldwide, solidifying its position as a leader in the immersive entertainment industry.

Vesta

Venture Round in 2020
Vesta Corporation is a provider of electronic payment solutions, specializing in client-branded services that enhance payment processing for merchants. The company offers a range of merchant solutions, including vSafe for Small to Midsize Businesses, which focuses on payment and fraud protection for smaller digital goods merchants, and vSafe for Enterprise, designed for comprehensive payments management and enterprise-level fraud prevention. Additionally, Vesta provides vGuaranteed, a payment solution tailored for online retailers, and DelayPay, a retail installment program that allows prepaid wireless customers to pay for services in installments. Founded in 1995 and headquartered in Lake Oswego, Oregon, Vesta operates globally, with centers in the United States, Ireland, China, and an office in Singapore. The company serves diverse industries, including e-commerce, telecommunications, and financial services, processing hundreds of millions of secure payments across various channels while prioritizing data security and fraud loss elimination.

Transcelestial

Series A in 2020
Transcelestial Technologies Pte. Ltd., based in Singapore and established in 2016, specializes in developing a high-speed wireless communication network that utilizes laser technology for point-to-point connections. This innovative network is designed to facilitate data transfer for both terrestrial and satellite applications, achieving speeds up to 1000 times faster than conventional methods. The technology is characterized by its resilience against jamming and its independence from spectrum pre-allocation or regulatory constraints. By creating a robust infrastructure for wireless communication, Transcelestial aims to enhance global connectivity and provide reliable network services across various environments, including ground, satellite, and deep-space applications.

Doctor Anywhere

Series B in 2020
Doctor Anywhere is a Singapore-based telehealth company that offers a comprehensive digital platform for on-demand healthcare solutions. It provides quick access to a range of health and wellness services, allowing users to consult licensed medical professionals for diagnoses, medications, and e-prescriptions from anywhere and at any time. The platform is designed to be simple and convenient, catering to the evolving lifestyle preferences of modern users. By leveraging technology, Doctor Anywhere aims to enhance health outcomes and address contemporary healthcare challenges, making it easier for individuals to manage their health according to their specific needs.

ShopBack

Series B in 2020
ShopBack is a leading online shopping platform in Southeast Asia that focuses on enhancing consumer purchasing decisions through cashback and rewards. Operating in several countries including Singapore, Malaysia, Indonesia, the Philippines, Thailand, and Taiwan, the company facilitates over 1,000 orders per hour by offering up to 30% cashback on purchases made through its platform. With a portfolio of over 1,300 merchant partners such as Uber, Expedia, and Lazada, ShopBack provides consumers with curated deals while simultaneously delivering effective marketing solutions for its business partners. The company is recognized for its impact in the industry, having received multiple awards, including accolades for Best Start-up and Best Innovative Infocomm Products at the Singapore Infocomm Technology Federation Awards, as well as the Emerging Enterprise Award, highlighting its role in enriching the shopping experience for consumers.

Neon Group

Private Equity Round in 2019
Neon Group is a global entertainment company headquartered in Singapore, specializing in creating and producing immersive experiences across various domains, including exhibitions, events, and interior architecture. The company has established partnerships with prominent organizations, including The Walt Disney Company, Marvel Entertainment, 20th Century Studios, and NBCUniversal, to develop popular themed exhibitions such as Marvel Avengers S.T.A.T.I.O.N. and Jurassic World: The Exhibition. Additionally, Neon collaborates with the governments of Peru and Egypt to present unique cultural experiences, showcasing original artifacts through exhibitions like Machu Picchu and Ramses the Great. With a commitment to delivering compelling and memorable experiences, Neon Group has successfully engaged millions of visitors across more than 60 cities worldwide, solidifying its position as a leader in the immersive entertainment industry.

Circles.Life

Venture Round in 2019
Circles.Life is a digital telecommunications company based in Singapore that aims to transform mobile services by focusing on customer needs. The company provides post-paid mobile and internet data services through subscription-based plans, allowing users to manage their data usage and costs via a customized mobile application. Customers can easily track their data consumption, explore various internet data plans, and switch between options seamlessly. With features like no-contract mobile plans and unlimited bonus data, Circles.Life emphasizes delivering a superior customer experience while offering flexibility and convenience in mobile services.

ShopBack

Series B in 2019
ShopBack is a leading online shopping platform in Southeast Asia that focuses on enhancing consumer purchasing decisions through cashback and rewards. Operating in several countries including Singapore, Malaysia, Indonesia, the Philippines, Thailand, and Taiwan, the company facilitates over 1,000 orders per hour by offering up to 30% cashback on purchases made through its platform. With a portfolio of over 1,300 merchant partners such as Uber, Expedia, and Lazada, ShopBack provides consumers with curated deals while simultaneously delivering effective marketing solutions for its business partners. The company is recognized for its impact in the industry, having received multiple awards, including accolades for Best Start-up and Best Innovative Infocomm Products at the Singapore Infocomm Technology Federation Awards, as well as the Emerging Enterprise Award, highlighting its role in enriching the shopping experience for consumers.

Carro

Series B in 2019
Carro is an automotive marketplace that offers a full-stack service for all aspects of car ownership. It challenges the traditional way of buying and selling of cars through a proprietary pricing algorithm. Carro also provides a range of services that offer everything a car owner needs throughout their car ownership journeys such as an in-house financing solution warranty options and Singapore’s first on-demand roadside recovery platform. The company was founded in 2015 and is headquartered in Singapore.

Carousell

Series C in 2018
Carousell is a Singapore-based classifieds marketplace that facilitates the buying and selling of preloved items through its mobile app, available on iOS and Android. Launched in August 2012, the platform allows users to easily list their secondhand goods by simply taking a photo and adding a description, covering a wide array of categories such as fashion, electronics, home goods, and vehicles. Carousell has gained popularity and recognition, ranking as the top shopping app in several regions including Singapore, Taiwan, Hong Kong, and Australia. The company has expanded its reach to 19 cities across seven countries, driven by a mission to inspire individuals to start selling and declutter their lives while enabling others to discover savings.

Rotimatic

Series C in 2018
Zimplistic, founded in 2008 by Rishi Israni and Pranoti Nagarkar, is a kitchen robotics startup focused on improving healthy eating through innovative technology. Its flagship product, Rotimatic, is the world's first fully automatic roti-making appliance that utilizes artificial intelligence and machine learning to prepare fresh, homemade rotis with minimal human intervention. Users can create hot and delicious rotis in under a minute by simply pressing a button, making it a convenient solution for busy households. Since its launch in 2016, Rotimatic has garnered significant global interest, serving millions of rotis across various countries, including Singapore, the US, UK, Canada, Australia, and New Zealand. The appliance stands out for its compact design and user-friendly operation, aiming to simplify meal preparation while promoting healthier eating habits. With its innovative approach, Rotimatic has disrupted the kitchen appliance market and continues to attract health-conscious consumers seeking convenient cooking solutions.

H3 Dynamics

Series B in 2018
H3 Dynamics is a company specializing in high-performance hydrogen solutions tailored for the aerospace and defense sectors. With offices in Toulouse, Austin, and Singapore, H3 Dynamics boasts over 16 years of research and development experience, positioning itself as a pioneer in hydrogen flight technology. The company focuses on advancing hydrogen-electric fuel cell systems for various applications, including extending the operational range of small electric unmanned aerial systems and powering large-scale passenger aircraft. Additionally, H3 Dynamics offers on-site hydrogen production and refueling services for airports and drone operators, particularly in remote locations. The company also develops telerobotics drones that transform complex data from images, videos, and sensor inputs into expert-validated inspection reports, providing essential aerial analytics and delivery services to asset owners and operators.

Appier

Series C in 2017
Appier Inc., established in 2012 and headquartered in Taipei, Taiwan, specializes in providing AI-powered platforms for enterprises worldwide. Its suite of products includes Aideal for driving purchase decisions, AIQUA for proactive customer engagement, AIXON for unified data science, and CrossX for AI-driven advertising solutions. Appier serves approximately 1,000 global brands and agencies across Asia from its offices in 14 markets, helping businesses make data-driven decisions to increase customer engagement and predict user behavior without the need for specialized AI engineers.

goBalto

Series C in 2015
goBalto, Inc. is a cloud-based software provider that focuses on enhancing the efficiency of clinical trials in the pharmaceutical, biotechnology, and medical device sectors. Founded in 2008 and headquartered in San Francisco, California, the company offers a suite of products designed to streamline the clinical research process. Their flagship solutions include Select, which assists in identifying suitable sites and target populations through data analysis; Activate, which facilitates the rapid initiation of studies by sponsors, contract research organizations, and investigative sites; and Analyze, which delivers operational insights and status updates to improve project management. GoBalto's offerings also encompass operational performance, oversight, risk management, business intelligence, and compliance solutions. The company operates additional offices in Singapore and King of Prussia, Pennsylvania, and is a subsidiary of Oracle Corporation.

Smaato

Series E in 2014
Smaato Inc. is a global advertising technology company that specializes in real-time advertising solutions for mobile publishers, application developers, and advertisers. Founded in 2005 and headquartered in San Francisco, with additional offices in Hamburg and Singapore, Smaato operates the SPX platform, an enterprise-level ad server that simplifies mobile monetization for its clients. This platform integrates various demand and supply sources, allowing publishers to manage their inventory and utilize first-party data effectively. By connecting quality publishers with premium marketers, Smaato enables clients to enhance their revenue potential and engage audiences across multiple devices.

goBalto

Venture Round in 2014
goBalto, Inc. is a cloud-based software provider that focuses on enhancing the efficiency of clinical trials in the pharmaceutical, biotechnology, and medical device sectors. Founded in 2008 and headquartered in San Francisco, California, the company offers a suite of products designed to streamline the clinical research process. Their flagship solutions include Select, which assists in identifying suitable sites and target populations through data analysis; Activate, which facilitates the rapid initiation of studies by sponsors, contract research organizations, and investigative sites; and Analyze, which delivers operational insights and status updates to improve project management. GoBalto's offerings also encompass operational performance, oversight, risk management, business intelligence, and compliance solutions. The company operates additional offices in Singapore and King of Prussia, Pennsylvania, and is a subsidiary of Oracle Corporation.

Amaranth Medical

Series B in 2013
Amaranth Medical, Inc. is a medical device company based in Mountain View, California, with research and manufacturing operations in Singapore and Silicon Valley. Founded in 2005, the company specializes in developing and manufacturing bioresorbable scaffolds for vascular and nonvascular applications. Its flagship product, FORTITUDE, is a bioresorbable coronary scaffold designed to assist arteries during the remodeling process after interventional procedures. These scaffolds utilize advanced polymer structure and processing technology, allowing them to gradually lose mechanical strength while maintaining vessel function and flexibility. Amaranth Medical aims to redefine interventional cardiology by providing versatile scaffolds that offer long-term clinical benefits without leaving behind permanent metal implants, thereby striving to establish a new global standard of care in stent interventions.

goBalto

Series B in 2012
goBalto, Inc. is a cloud-based software provider that focuses on enhancing the efficiency of clinical trials in the pharmaceutical, biotechnology, and medical device sectors. Founded in 2008 and headquartered in San Francisco, California, the company offers a suite of products designed to streamline the clinical research process. Their flagship solutions include Select, which assists in identifying suitable sites and target populations through data analysis; Activate, which facilitates the rapid initiation of studies by sponsors, contract research organizations, and investigative sites; and Analyze, which delivers operational insights and status updates to improve project management. GoBalto's offerings also encompass operational performance, oversight, risk management, business intelligence, and compliance solutions. The company operates additional offices in Singapore and King of Prussia, Pennsylvania, and is a subsidiary of Oracle Corporation.

Smaato

Series D in 2011
Smaato Inc. is a global advertising technology company that specializes in real-time advertising solutions for mobile publishers, application developers, and advertisers. Founded in 2005 and headquartered in San Francisco, with additional offices in Hamburg and Singapore, Smaato operates the SPX platform, an enterprise-level ad server that simplifies mobile monetization for its clients. This platform integrates various demand and supply sources, allowing publishers to manage their inventory and utilize first-party data effectively. By connecting quality publishers with premium marketers, Smaato enables clients to enhance their revenue potential and engage audiences across multiple devices.

Crisp Mobile

Series C in 2011
Crisp Mobile is a pioneering company in mobile advertising technology, dedicated to helping brands engage customers at the point of purchase through mobile devices. It offers the Crisp MoCA platform, an end-to-end mobile customer activation solution designed to enhance retail and consumer packaged goods (CPG) marketing strategies. By pinpointing mobile shoppers at the right time and place, Crisp delivers data-driven experiences that encourage store visits and drive sales while providing accurate measurements of campaign success. With a strong focus on innovation, Crisp has established itself as a preferred platform provider for leading brands in the retail and CPG sectors. The company is privately held and has its headquarters in New York, along with an office in Singapore.

Smaato

Series C in 2011
Smaato Inc. is a global advertising technology company that specializes in real-time advertising solutions for mobile publishers, application developers, and advertisers. Founded in 2005 and headquartered in San Francisco, with additional offices in Hamburg and Singapore, Smaato operates the SPX platform, an enterprise-level ad server that simplifies mobile monetization for its clients. This platform integrates various demand and supply sources, allowing publishers to manage their inventory and utilize first-party data effectively. By connecting quality publishers with premium marketers, Smaato enables clients to enhance their revenue potential and engage audiences across multiple devices.

S*Bio

Venture Round in 2008
S*BIO Pte, Ltd., a biotech company, focuses on the discovery and clinical development of novel targeted small drugs for the treatment of cancer. It serves the biotechnology industry in Singapore. The company was founded in 2000 and is based in Singapore, Singapore. S*BIO Pte, Ltd. operates as a subsidiary of Chiron Corporation Limited.

Amaranth Medical

Series A in 2006
Amaranth Medical, Inc. is a medical device company based in Mountain View, California, with research and manufacturing operations in Singapore and Silicon Valley. Founded in 2005, the company specializes in developing and manufacturing bioresorbable scaffolds for vascular and nonvascular applications. Its flagship product, FORTITUDE, is a bioresorbable coronary scaffold designed to assist arteries during the remodeling process after interventional procedures. These scaffolds utilize advanced polymer structure and processing technology, allowing them to gradually lose mechanical strength while maintaining vessel function and flexibility. Amaranth Medical aims to redefine interventional cardiology by providing versatile scaffolds that offer long-term clinical benefits without leaving behind permanent metal implants, thereby striving to establish a new global standard of care in stent interventions.

Amaranth Medical

Seed Round in 2005
Amaranth Medical, Inc. is a medical device company based in Mountain View, California, with research and manufacturing operations in Singapore and Silicon Valley. Founded in 2005, the company specializes in developing and manufacturing bioresorbable scaffolds for vascular and nonvascular applications. Its flagship product, FORTITUDE, is a bioresorbable coronary scaffold designed to assist arteries during the remodeling process after interventional procedures. These scaffolds utilize advanced polymer structure and processing technology, allowing them to gradually lose mechanical strength while maintaining vessel function and flexibility. Amaranth Medical aims to redefine interventional cardiology by providing versatile scaffolds that offer long-term clinical benefits without leaving behind permanent metal implants, thereby striving to establish a new global standard of care in stent interventions.

VFlow Tech

Vflow Tech is a Singapore-based company that specializes in the manufacturing of modular vanadium redox flow batteries. These batteries are designed for large-scale energy storage applications, catering primarily to the utility and renewable energy sectors. Vflow Tech's innovative approach incorporates industry-focused research and user feedback to create safe, long-lasting, and cost-effective energy storage solutions. The modular design of their batteries allows for scalability, making them suitable for a range of applications from households and micro-grids to grid-level storage. The company emphasizes the reliability and environmental friendliness of its products, offering clients a sustainable energy storage option that maintains consistent performance without degradation over time.
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