Temasek, others invest US$28.5M in UK-based Tropic Biosciences

Singaporean government-owned Temasek has led a US$28.5 million Series B funding round in UK-based biotech company Tropic Biosciences, according to TheBusinessTimes.

Other backers include Sumitomo Europe, Genoa Ventures, Agronomics and Skyviews Life Science.

Tropic utilises gene-editing techniques to develop high-performing commercial tropical crops, which foster grower well-being and maintains the plant’s nutritional benefits.

“These massive crops currently face a wide range of critical challenges, from diseases and pests to climate change. Tropic is working closely with growers to address these major issues and, in doing so, promotes consumer well-being and positive grower economics, while increasing crop stability and addressing unmet nutritional needs,” the company said in a statement.

Temasek’s makes longer-term investments in telecom, financial services, transportation, real estate, life sciences, agriculture, energy and resources.

Singapore’s car-sharing platform Smove shuts down

Car sharing platform Smove said today it has filed for liquidation after it failed to cover its operating cost, according to Vulcan Post.

Quoting a Facebook post from Smove, the publication said the government had requested the firm “to cease operations because they were no longer deemed an essential service during the extended COVID-19 circuit breaker”.

The Singapore-headquartered firm was launched in 2013 as an hourly car-rental company, with a team of four members. The startup had reportedly been facing cashflow problems previously as well.

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The company, however, remains optimistic about the future and has commented that “it will wait on the government’s instructions in regards to future operation,”.

Microsoft launches programme to bolster the growth of agritech startups in India

Microsoft has announced the launch of “The Microsoft for Agritech Startups program” in India, according to The Tribune.

Agritech startups selected for the programme will be provided with business resources and technological support like Azure and FarmBeats without investing in deep data resources.

“The Microsoft for Agritech Startups programme is among the early steps in our journey towards empowering these startups in India and transforming global agricultural practices,” said Sangeeta Bavi Director of Startup Ecosystem, Microsoft India.

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The post Roundup: Temasek invests in UK firm Tropic Biosciences, Singapore’s car-sharing platform Smove shuts down appeared first on e27.