Major global economies are always looking out for ways to create new and exciting jobs, stimulate the economy, and bolster innovation in technology. With these key goals in mind, it is imperative for countries to focus on areas where all three goals intersect: the tech startup ecosystem.

As one of the many ways to become a self-reliant economy, a country needs to have a robust startup ecosystem and a strong network of accelerators that are designed to support and embolden these startups. With India’s plans to transform itself into a self-reliant economy, 9Unicorns plays a crucial role in strengthening the country’s startup ecosystem, and by extension, the economy.

9Unicorns, an early-stage accelerator and VC fund launched in late 2019, has already become the largest player in the country after investing in over 60 unique technology startups with a cumulative valuation of nearly USD 450 million. Co-founded by Dr Apoorva Ranjan Sharma, Anil Jain, Anuj Golecha, and Gaurav Jain, the Mumbai-based USD 72-million sector-agnostic fund provides up to USD 100K per startup in the first round, and up to USD 2 million in successive rounds with its ecosystem of co-investors. The fund is scouting for startups beyond the top Indian metros.

“9Unicorns is helping build a community where early and idea-stage startups can get more personal and systematic advice which the country used to lack. We ensure that the founders have a great starting up experience as lack of mentorship is the second most important cause of why startups fail. Lack of funding is still the first reason,” said Dr Apoorva Ranjan Sharma, Co-founder and President of 9Unicorns.

He further added that 9Unicorns is on a mission to help strengthen early-stage investing and help create quality startups that have the potential to become billion-dollar companies in the future.

Reputation and experience

Built on the lines of the US-based accelerator Y Combinator, 9Unicorns was launched by the country’s largest integrated incubator, Venture Catalysts (VCats), to identify the best ideas and most promising early-stage startups from India.

India’s startup ecosystem is thriving and the birth of 16 Unicorns this year so far is a testimony to the fact that the emergence of quality accelerators and incubators such as 9Unicorns are playing a major role in providing the basic necessities that come with opening a young startup. At present, India is home to about 50 Unicorns (by valuation) and has the potential to create about 100 more in the next two years.

Also read: STPI’s Vision Programme: empowering Taiwan-based startups to tap into Southeast Asia and beyond

9Unicorns’ platform provides innovative startups with initial handholding, funds, a world-class mentorship programme, and a go-to-market strategy with an idea to create more potential Unicorns in the near future.

While doing that, 9Unicorns also ensures that the accelerator doesn’t interfere in the day-to-day operations and running of the participating companies. “Founders of the startup smart know their product well. We only help them to grow further, raise bigger rounds, and grow their presence in different markets. The larger idea is to create a community of startups that help each other,” as per Dr Sharma.

How 9Unicorns supports promising startups

To help its portfolio companies raise bigger up-rounds, 9Unicorns is launching its first-ever showcase of startups. Called D Day, the event will showcase about 30 shortlisted portfolio startups including 15 from its parent, Venture Catalysts, and enable them to present their ideas before a global marquee of investors on August 11-12.

These startups emerged from various sectors including deep-tech, artificial intelligence, defence tech, fintech, and health-tech amongst others.

“We are super confident that each of our 30 portfolio startups presenting on those two days will be able to impress the global VCs and bag the funding they deserve. The growth of these startups would automatically boost the economy and help in creating more employment,” Dr Sharma added.

Also read: Scaling your startup: A closer look at building your local entity and remote teams

The 30 startups have been selected after rigorous workshops, coaching sessions, mentoring sessions, and proof of concepts (PoCs) that were conducted virtually, in the wake of the remote working conditions due to the COVID-19 pandemic.

The D Day will see over 100 investors from across geographies that include major economies like the US, UK, China, Hong Kong and Singapore.

As a responsible accelerator fund and as part of its efforts to put Indian startups on the global map, 9Unicorns will be organising the Global Demo Day every quarter with the assurance that each edition would see the presence of some of the finest startups from the 9Unicorns family.

To learn more about 9Unicorns, you may visit their official website for more details.

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This article is produced by the e27 team, sponsored by 
9unicorns

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MiRXES, a Singaporean biotechnology company that develops RNA-powered disease early detection tests, announced today it has raised US$77 million in Series C financing.

The round was led by CR-CP Life Science Fund and joined by global healthcare investment firm Rock Springs Capital, Charoen Pokphand Group (Thailand) and EDBI.

Established financial institutions from the US, Singapore, China and Hong Kong, including CCBI and Keytone Ventures, also participated.

This round brings MiRXES’s total amount raised since inception to US$120 million.

Also Read: AI startup Niramai helps detect breast cancer using a zero radiation, non-contact solution; receives seed funding

The new investment will be used primarily to fund the development and commercialisation of MiRXES’s pipeline of multi-cancer early detection tests that look for blood-borne microRNA and other molecular signatures released by cancer and immune cells.

The firm currently collaborates with leading academic and clinical institutions in Singapore, the US, China, Italy and Japan to conduct large-scale clinical studies on lung, colorectal, liver, breast, and pancreatic cancers with a total enrolment of more than 30,000 participants.

MiRXES will also use a portion of the capital to accelerate regulatory approval and adoption of GASTROClear, an RNA-powered blood test for the early detection of gastric cancer, in China, Japan and selected countries in Asia, Europe and the Americas that have high rates of gastric cancer. Launched in 2019, GASTROClear’s multi-cancer early detection pipeline includes screening tests for lung, colorectal, liver, and breast cancer.

The company’s China operation is launching a 12,000-strong prospective clinical trial to seek registration of GASTROClear as a screening test with China’s National Medical Products Administration. In markets where this test is approved, MiRXES is working with healthcare, insurance and laboratory partners to enable greater accessibility of GASTROClear to populations at risk of developing gastric cancer.

In anticipation of the growth, MiRXES is doubling its global talent pool to 400 staff over the next two years with a significant build-up in R&D, data science and commercial teams in major markets.

“With this fresh funding, MiRXES will bring forward our plans to deliver a comprehensive portfolio of non-invasive screening tests for early detection of six major cancers, and to expand the use of our platform RNA technology for cardiovascular, metabolic and infectious diseases research and diagnostics globally,” said co-founder and CEO Dr Lihan ZHOU.

Also Read: Ageing gracefully: Why GERO is optimistic about its chance in the race for anti-ageing drug

Founded in 2014 as a spin-off from Singapore’s Agency for Science, Technology, and Research (A*STAR) with strong support from the National University of Singapore (NUS), MiRXES develops RNA-powered tests for disease early detection, with pipelines in multiple cancer types, as well as in cardiovascular, metabolic and infectious diseases.

It has operations in China, Japan and the US, as well as commercial activities in over 45 countries, globally.

In response to the COVID-19 pandemic in 2020, MiRXES worked closely with A*STAR, Diagnostics Development Hub (DxD) and Tan Tock Seng Hospital (TTSH) to mass-produce Fortitude Kit, Singapore’s first authorised COVID-19 RT-PCR test. Since February 2020, more than 7 million Fortitude Kits have been deployed globally.

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Image Credit: MiRXES

 

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Singaporean cross-border logistics platform Jano has raised US$8 million in funding from Choco Up, a revenue-based investment and fintech firm in Hong Kong.

With the new funding, Janio aims to expand its services into new emerging markets.

Founded in 2018, the startup aims to simplify deliveries across borders. It integrates its logistics chain by creating partnerships with a wide network of service providers, connecting clients with logistics partners through its data-driven platform.

Janio’s solutions allow their clients across Asia — including Indonesia, Malaysia, Taiwan, Mainland China, and Thailand — greater control over the supply chain and help streamline logistic-related paperwork.

Also Read: Locad lands US$4.9M seed funding to provide logistics infra for e-commerce businesses

With the e-commerce industry set to boom in the aftermath of the COVID-19 pandemic, Choco Up’s investment will allow Janio to boost its growth to meet rising industry demands.

“E-commerce is at an all-time high and it’s a very good time for Janio to carry out expansion plans to secure their presence in the region as the leading provider of logistic infrastructure that helps businesses scale their operations quickly and reliably,” said Percy Hung, co-founder of Choco Up.

“At Janio, our vision is to build Southeast Asia’s leading logistics network that provides the infrastructure to help companies grow their business more efficiently and reliably. Our goal is to create a superior end-to-end delivery experience for our customers by working closely with our partners across the region,” said Junkai Ng, co-founder of Janio.

“Choco Up’s backing and their fast-track funding system will provide us the quick capital necessary to carry out expansion plans with peace of mind at this pivotal time for the industry,” he added.

The logistics market in Southeast Asia is expected to total US$55.7 billion by 2025 – demonstrating the growing demand and necessity for flexible, technology-enabled solutions.

Founded in 2018, Choco Up offers flexible non-dilutive funding solutions across eight countries and 10 sectors. With offices in Hong Kong and Singapore, Choco Up is an advanced data-driven fintech platform that leverages data analytics and vast integration to automate growth fund deployment and risk management.
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Singapore-based smart living company HiLife Interactive announced today it has secured SGD8 (US$6) million in Series A funding from Shanghai 2345 Network Holding Group, an internet information services provider and software developer in China.

With the new financing, HiLife will continue to invest in technological capability development to enhance its solution.

HiLife Interactive expects to double its presence in Southeast Asia with new markets such as Cambodia and plans to break into the Australasia and European markets by the end of 2021. It will bring its hiLife smart estate solution into commercial, hospitality, healthcare and educational institutions with the investment from Shanghai 2345 and its technological know-how.

Established in 2015, HiLife Interactive is a smart living company providing its hiLife solution to residential projects in Southeast Asia. The all-in-one app combines smart home, smart community and smart estate in a single holistic solution for both residents and estate managers.

Also Read: 5 ‘made in Asia’ smart living projects that will get you pumped

The hiLife 360° Smart Access system features visitor management and vehicle management capabilities supported by licence plate recognition technology to enhance convenience and security.

Estate managers can also better oversee the development with hiLife’s smart estate solution that allows them to manage facilities, feedback, payments, contracts, residents, visitors and assets such as the security system, lighting and energy meters through a dashboard.

Estate managers of properties such as schools and hospices can benefit from enhanced productivity, efficiency and security with hiLife. For example, its asset management system allows real-time monitoring of the facility’s security system, visitor system as well as lighting and energy meters to detect incidents and inefficiencies.

Today, HiLife works with over 30 property management companies to provide its solution to over 80,000 households in more than 300 condominiums in Singapore.

hiLife currently has a presence in Indonesia, Malaysia, the Philippines, Sri Lanka, Thailand and Vietnam.

Also Read: Getting smarter with tech: How will smart cities look like 10 years from now?

“The hiLife platform has played a significant role in keeping people safe in this pandemic. Beyond convenience, it enabled contactless living. Homeowners could book limited slots at condominium facilities without any face-to-face contact. In fact, our visitor management platform, complemented by Licence Plate Recognition technology, made it easy for both residents and security guards to manage the increase in online shopping deliveries,” said Sam Ho, Deputy CEO, HiLife Interactive.

“Singapore is a regional hub for tech and startups. Its startup ecosystem is an exciting space to be in. HiLife’s smart lifestyle solution will bring value to the digitally-savvy populations with the digital industry booming as a result of the pandemic. We are proud to support HiLife Interactive as they grow the hiLife platform into the leading smart lifestyle platform in Southeast Asia and beyond,” said Han Meng, Founder, Shanghai 2345.

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Image Credit: HiLife Interactive

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MoneyMatch, a cross-border payment company headquartered in Kuala Lumpur, announced the closing of its Series A fundraising round totalling MYR 18.5 (US$4.4) million.

The fund was raised over two tranches. The initial tranche was led by Cradle Seed Ventures in 2019 while the second one by KAF Investment Bank early this year.

This also includes a venture debt facility secured from Malaysia Debt Ventures through its Technology Startups Funding Relief Facility.

MoneyMatch said in a statement that it will use the proceedings to expand its presence to Singapore and Hong Kong by the year-end. It will also allocate additional resources to Malaysia’s northern and southern regions as it looks to ramp up its presence both nationally and internationally.

“We see tremendous opportunity in Singapore and Hong Kong as it enables us to provide our services to Malaysians and Malaysian-owned businesses in these markets initially. Secondly, it also enables us to expand our services to companies in Malaysia that export to these countries,” co-founder Adrian Yap told e27.

Also Read: Malaysia’s central bank grants approval in principle to fintech startup MoneyMatch

The startup has also announced that it will be participating in the local digital banking scene, with multiple consortiums. The names of the other entities in the consortium were not disclosed.

Founded in 2015 by former bankers Adrian Yap and Naysan Munusamy, MoneyMatch is a multinational financial technology firm specialising in international payments. Its digital platform claims to have executed over MYR 2.3 billion (US$500 million) in transactions covering cross-border trade payments and individual remittances.

MoneyMatch was amongst the first batch of fintech startups enrolled into Malaysian central bank BNM’s fintech regulatory sandbox in 2017.

Since then, MoneyMatch has scaled up to serve over 20,000 individuals and over 3,000 small and medium enterprises (SMEs) in Malaysia, whilst also expanding operations to Australia and Brunei.

Since starting operations in mid-2017, the startup has grown to over 70 full-time employees.

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Image Credit: MoneyMatch

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