Although there are only around 1,000 electric cars on the roads today, there is a strong push to increase this number to around 200,000 by 2030, shared Tong Hsien-Hui, Executive Director of Venture Investing at SGInnovate, on Singapore’s EV outlook.
In the ninth edition of Singapore Business Review’s 20 Hottest Startups, it was the small and medium enterprise (SME)-focused neobank Aspire that clinched the top spot, with $45.03m (US$32.5m) in funding from a series A round. These 20 startups raised an average funding amount of about $7.85m, which was a 47.32% plunge from the 2018 average of $14.9m.
Eco-business published an article on how venture capitalists can play a stronger role in supporting cleantech solutions which can help fight climate change and create sustainable cities. According to a report by Asian Development Bank, Asia will need more funding to bring about the solutions needed to fight or adapt to climate change. Less than 10 percent of global cleantech VC investment goes to cleantech entrepreneurs and startups in Asia. Steve Leonard was quoted in the article where he shared his view that for deep tech solutions like AI, robotics and blockchain, more investment is needed from the VC community.