Trancelestial Technologies, a last-mile internet connectivity startup based in Singapore, has secured a US$9.6M in Series A round of investment, co-led by EDBI and Wavemaker Partners. The startup’s other investors include SGInnovate, Entrepreneur First, 500 Startups, Michael Seibel (CEO of Y-Combinator) and more.
SGInnovate has launched Deep Tech for Good, a new initiative that seeks to accelerate the development and use of Artificial Intelligence (AI) and other frontier technologies to improve the human condition and drive sustainable development across different markets. The initiative was launched at a virtual event with an international line-up of experts sharing their perspectives on how Deep Tech can be advanced for social and economic good.
Horizon Quantum Computing has increased its seed financing to SG$4.5 million (US$3.23 million) with Sequoia Capital India leading the extension, and participation from previous investors SGInnovate, Abies Ventures, DCVC, Qubit Protocol, Summer Capital and Posa CV.
Singapore’s startups are stepping up to adapt their current technologies in the battle against COVID-19, Dr Lim Jui, CEO of SGInnovate, told Fortune Times during a recent interview.
THE Monetary Authority of Singapore (MAS) will be developing "fairness metrics" in credit risk scoring and customer marketing as part of the first phase of its Veritas initiative. The Veritas consortium currently comprises MAS, SGInnovate, EY, CFA Society Singapore, the Bankers Association for Finance & Trade, tech giants Amazon Web Services and Microsoft, IAG Firemark Labs and Gradient Institute, Element AI, and 16 financial institutions.
To help fresh university and polytechnic graduates in a similar situation, 700 paid research and development (R&D) traineeship positions have been created to prepare them for employment when the economy picks up. They can apply for these positions through the local universities, research institutes under the Agency for Science, Technology and Research, AI Singapore and startups under SGInnovate, where they will work closely with companies and hone skills to solve problems or develop new products and services.