UNL, an Amsterdam-based smart addressing platform for navigation and location-based services, has raised $2 million in seed funding to build the “Internet of Places” and bring the rest of the world’s population into the digital economy. The round was co-led by fellow Dutch company HERE Technologies, which specialises in mapping and location solutions, and Elev8.vc, a Singapore-based Deep Tech VC fund. Other investors include Singapore’s SGInnovate, Amsterdam-based Venturerock and the US-headquartered SOSV.
Singapore was one of the first countries hit by the coronavirus, COVID-19. The city state’s early response, which included cash incentives to work from home, chatbots and a national Whatsapp channel to educate and inform citizens, has earned praise from the World Health Organization and in scientific research.
While investors are expected to become more cautious in the coming months, in March, fundings continued to pour in for Southeast Asian startup ecosystem. The e27 content team noticed that there seemed to be a bigger number of seed-stage funding rounds being announced during the month, as opposed to Series A.
“Prevention is better than cure” is the mantra spurring some of this year’s 30 Under 30 Asia listees in the Healthcare & Science category to start their health-tech ventures. Stroke is the world’s second-leading cause of death after heart disease, a statistic that inspired Milad Mohammadzadeh and Sadaf Monajemi in 2017 to launch See-Mode Technologies to better predict the risk of strokes.
Deep technology has the potential to solve the world’s biggest societal issues. This has not gone unnoticed by nations – Singapore, for example, has injected an additional S$300 million into its Startup SG Equity scheme in its recent Budget 2020 announcement, to support the commercialisation of startups whose businesses are based on innovative research.
On 18 February 2020, the Singapore government announced the budget allocation for the year. One of the highlights of the budget was the S$300 million (US$215 million) additional funds set aside to support startups in the Deep Tech sector. The government noted the larger investment and longer gestation period required by Deep Tech investments as the reason why the sector was given special attention in this budget.