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.

Lawrence Low

Senior Vice President, Investments

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 Pte. Ltd., founded in 2014 and based in Singapore, specializes in life science research tools and molecular diagnostic tests for both research and clinical applications. The company has developed a leading microRNA (miRNA) detection assay platform designed to identify cancer at asymptomatic stages. Its product offerings include RT-qPCR assays, assay panels, spike-in RNA kits, and solutions for biomarker discovery. By focusing on early cancer detection, MiRXES provides healthcare professionals with essential diagnostic tools to improve clinical outcomes through timely intervention.

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 an integrated healthcare platform designed to provide on-demand health and wellness services. The platform enables users to access consultations with licensed medical professionals who can deliver diagnoses, prescribe medications, and issue e-prescriptions, all from the convenience of their location. By combining various health services into a single digital interface, Doctor Anywhere aims to simplify the healthcare experience, making it more accessible and aligned with contemporary lifestyle needs. The company is committed to enhancing health outcomes through technology, addressing modern healthcare challenges, and adapting to the evolving preferences of patients.

Fazz

Series C in 2022
Fazz is a fintech company that provides digital financial services aimed at promoting financial inclusion across Southeast Asia. Founded in 2016 and based in Singapore and Indonesia, Fazz enables merchants, ranging from small and medium enterprises to large corporations, to accept payments, transfer funds, and access banking and investment services. The company offers specialized solutions such as Fazz Agen, which serves micro and small businesses in Indonesia, and Fazz Business, a comprehensive account designed to support startups and larger organizations in managing their financial needs. By merging PayFazz and Xfers, Fazz has strengthened its position in the market, focusing on delivering diverse financial services to underserved segments, including the unbanked.

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.

Mirxes

Series C in 2022
MiRXES Pte. Ltd., founded in 2014 and based in Singapore, specializes in life science research tools and molecular diagnostic tests for both research and clinical applications. The company has developed a leading microRNA (miRNA) detection assay platform designed to identify cancer at asymptomatic stages. Its product offerings include RT-qPCR assays, assay panels, spike-in RNA kits, and solutions for biomarker discovery. By focusing on early cancer detection, MiRXES provides healthcare professionals with essential diagnostic tools to improve clinical outcomes through timely intervention.

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 is a digital financing company that specializes in providing loans to small and medium enterprises (SMEs) through its online platform. This platform connects individual and institutional investors with SMEs in need of financing, allowing these businesses to secure funds quickly and efficiently, often avoiding the lengthy processes associated with traditional banks. Operating in several Southeast Asian countries, including Singapore, Malaysia, Indonesia, and Thailand, Funding Societies offers a range of flexible financing options such as microloans, term loans, and invoice financing. The company employs advanced credit scoring and risk assessment models to evaluate the creditworthiness of borrowers, helping SMEs address urgent cash flow needs and support their growth objectives.

ShopBack

Series E in 2021
ShopBack is a leading online shopping platform in Southeast Asia that enables consumers to make smarter purchase decisions through cashback rewards. Operating in countries such as Singapore, Malaysia, Indonesia, the Philippines, Thailand, and Taiwan, ShopBack processes over 1,000 orders per hour and offers cashback of up to 30% to enhance consumers' purchasing power. The platform connects users with more than 1,300 merchant partners, including well-known brands like Uber, Expedia, and Lazada, providing a diverse range of deals and incentives. In addition to benefiting consumers, ShopBack delivers cost-effective marketing solutions to its merchant partners. The company has received multiple accolades for its innovative approach, including awards at the Singapore Infocomm Technology Federation Awards and the Emerging Enterprise Award, highlighting its significant impact in the e-commerce sector.

Mirxes

Series C in 2021
MiRXES Pte. Ltd., founded in 2014 and based in Singapore, specializes in life science research tools and molecular diagnostic tests for both research and clinical applications. The company has developed a leading microRNA (miRNA) detection assay platform designed to identify cancer at asymptomatic stages. Its product offerings include RT-qPCR assays, assay panels, spike-in RNA kits, and solutions for biomarker discovery. By focusing on early cancer detection, MiRXES provides healthcare professionals with essential diagnostic tools to improve clinical outcomes through timely intervention.

NEON

Private Equity Round in 2021
NEON is a global entertainment company based in Singapore, specializing in creating and producing immersive experiences. The company has established partnerships with major entities, including The Walt Disney Company, Marvel Entertainment, and NBCUniversal, to deliver notable exhibitions such as Marvel Avengers S.T.A.T.I.O.N., Jurassic World: The Exhibition, and Transformers: The Experience. NEON also collaborates with Warner Bros. Themed Entertainment to develop unique global touring-themed art experiences inspired by DC and the Wizarding World. Additionally, the company works with the governments of Peru and Egypt to present original artifact exhibitions, including Machu Picchu and Ramses the Great. With a portfolio that includes authentic artifact tours like Pompeii: The Exhibition and Mummies of the World, NEON has successfully created memorable experiences for millions of visitors across more than 60 cities worldwide.

Vesta

Venture Round in 2020
Vesta Corporation specializes in electronic payment solutions, offering a range of services designed to support merchants and consumers across various industries. Their merchant solutions include vSafe for Small to Midsize Businesses, which aids digital goods merchants with payment processing and fraud protection; vSafe for Enterprise, tailored for larger organizations with comprehensive payment management and fraud prevention; and vGuaranteed, designed for online retailers. Additionally, Vesta provides DelayPay, a consumer lending solution that allows prepaid wireless customers to make phone refills in installments. With a focus on enhancing revenue and minimizing costs through the reduction of fraud losses and improved payment capabilities, Vesta serves clients in e-commerce, telecommunications, and financial services globally. Founded in 1995 and headquartered in Lake Oswego, Oregon, the company also maintains operation centers in the United States, Ireland, and China, along with an office in Singapore.

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.

ShopBack

Series B in 2020
ShopBack is a leading online shopping platform in Southeast Asia that enables consumers to make smarter purchase decisions through cashback rewards. Operating in countries such as Singapore, Malaysia, Indonesia, the Philippines, Thailand, and Taiwan, ShopBack processes over 1,000 orders per hour and offers cashback of up to 30% to enhance consumers' purchasing power. The platform connects users with more than 1,300 merchant partners, including well-known brands like Uber, Expedia, and Lazada, providing a diverse range of deals and incentives. In addition to benefiting consumers, ShopBack delivers cost-effective marketing solutions to its merchant partners. The company has received multiple accolades for its innovative approach, including awards at the Singapore Infocomm Technology Federation Awards and the Emerging Enterprise Award, highlighting its significant impact in the e-commerce sector.

NEON

Private Equity Round in 2019
NEON is a global entertainment company based in Singapore, specializing in creating and producing immersive experiences. The company has established partnerships with major entities, including The Walt Disney Company, Marvel Entertainment, and NBCUniversal, to deliver notable exhibitions such as Marvel Avengers S.T.A.T.I.O.N., Jurassic World: The Exhibition, and Transformers: The Experience. NEON also collaborates with Warner Bros. Themed Entertainment to develop unique global touring-themed art experiences inspired by DC and the Wizarding World. Additionally, the company works with the governments of Peru and Egypt to present original artifact exhibitions, including Machu Picchu and Ramses the Great. With a portfolio that includes authentic artifact tours like Pompeii: The Exhibition and Mummies of the World, NEON has successfully created memorable experiences for millions of visitors across more than 60 cities worldwide.

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.

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, Carousell has expanded its operations to 19 cities across seven countries, offering a wide range of products, including fashion, electronics, and home goods. Users can easily list items for sale by taking a photo and adding a description, allowing for a straightforward and efficient trading experience. The platform has gained significant popularity, ranking as the top shopping app in Singapore, Taiwan, Hong Kong, and Australia. Carousell is supported by prominent venture capital firms, underscoring its position as a leader in the consumer-to-consumer marketplace sector.

Rotimatic

Series C in 2018
Zimplistic is a kitchen robotics startup founded by husband-wife duo Rishi Israni and Pranoti Nagarkar in 2008. We aspire to help people lead a healthier lifestyle by building intelligent solutions to hard problems. By integrating consumer robotics and Internet of Things (IoT), Zimplistic aims to create enterprising appliances that make healthier eating easier and sustainable. At Zimplistic, our mission is to tackle real-world problems to improve the daily lives of people. This gave rise to Rotimatic, our flagship product. It is the world's first kitchen robot that makes fresh, healthy, homemade rotis with a touch of a button. About Rotimatic - Rotimatic is a roti-making appliance that uses artificial intelligence to make rotis (flatbreads) without the need for human supervision. It is a fully automatic robot that processes all the essential ingredients and produces hot and delicious rotis in under a minute. Rotimatic is a technology marvel, packed with some cutting-edge technology innovated by a talented group of health-conscious people. A complete game changer globally - it is compact, user-friendly, and makes preparing rotis a cakewalk. Since its launch in 2016, Rotimatic has disrupted the kitchen appliances segment by piquing the interest of many. By knocking the hassle out of healthy eating, and helping everyone eat fresh food made at home with handpicked ingredients, we believe that people will eat healthier and live better with Rotimatic. It's become a worldwide kitchen sensation with over 3 million rotis served in thousands of households until June 2017. Rotimatic is available for purchase in Singapore, US, UK, Canada, Australia, and New Zealand. Order now - https://rotimatic.com/order/

H3 Dynamics

Series B in 2018
H3 Dynamics is a company specializing in high-performance hydrogen solutions for the aerospace and defense sectors, with operations in Toulouse, Austin, and Singapore. With over 16 years of research and development experience, H3 Dynamics is a pioneer in hydrogen flight, developing hydrogen-electric fuel cell systems for various applications, including enhancing the range of small electric unmanned aerial systems and powering larger systems in passenger aircraft. The company also offers on-site hydrogen production and refueling services tailored for airports and drone operators in remote locations. Additionally, H3 Dynamics has developed telerobotics drones that provide real-time response services and analysis, transforming complex data from images, videos, and sensors into expert-validated inspection reports. This cloud-based service allows asset owners and operators to access aerial analytics and delivery services efficiently.

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. operates a real-time advertising platform that serves mobile publishers, application developers, and advertisers globally. Founded in 2005 and headquartered in San Francisco, with additional offices in Hamburg and Singapore, the company offers its SPX platform, an enterprise-grade advertising server designed for mobile monetization. This platform enables clients to enhance their effective cost per mille (eCPMs) by connecting various demand and supply sources, as well as advertising networks, in a unified interface. Smaato also provides a free ad server, allowing publishers to manage their inventory efficiently while integrating their first-party data. By connecting quality publishers with premium marketers, Smaato facilitates engaging audience experiences across multiple devices, ultimately helping clients generate revenue and maximize their advertising potential.

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. operates a real-time advertising platform that serves mobile publishers, application developers, and advertisers globally. Founded in 2005 and headquartered in San Francisco, with additional offices in Hamburg and Singapore, the company offers its SPX platform, an enterprise-grade advertising server designed for mobile monetization. This platform enables clients to enhance their effective cost per mille (eCPMs) by connecting various demand and supply sources, as well as advertising networks, in a unified interface. Smaato also provides a free ad server, allowing publishers to manage their inventory efficiently while integrating their first-party data. By connecting quality publishers with premium marketers, Smaato facilitates engaging audience experiences across multiple devices, ultimately helping clients generate revenue and maximize their advertising potential.

Crisp Mobile

Series C in 2011
Crisp Mobile is a leader in mobile advertising technology, dedicated to assisting brands in engaging customers at the point of purchase through mobile devices. The company has developed Crisp MoCA, an end-to-end mobile customer activation platform that provides a comprehensive solution for brands and retailers. This platform effectively identifies the right mobile shoppers at optimal times and locations, delivering data-driven experiences that drive store visits and sales. Crisp Mobile's advanced ad technology, combined with its skilled teams in product development, engineering, and operations, has established it as a preferred partner for major consumer packaged goods and retail companies. Headquartered in New York, Crisp also has an office in Singapore, reflecting its global outreach and commitment to innovation in mobile marketing.

Smaato

Series C in 2011
Smaato Inc. operates a real-time advertising platform that serves mobile publishers, application developers, and advertisers globally. Founded in 2005 and headquartered in San Francisco, with additional offices in Hamburg and Singapore, the company offers its SPX platform, an enterprise-grade advertising server designed for mobile monetization. This platform enables clients to enhance their effective cost per mille (eCPMs) by connecting various demand and supply sources, as well as advertising networks, in a unified interface. Smaato also provides a free ad server, allowing publishers to manage their inventory efficiently while integrating their first-party data. By connecting quality publishers with premium marketers, Smaato facilitates engaging audience experiences across multiple devices, ultimately helping clients generate revenue and maximize their advertising potential.

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.
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