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Dear Readers,

SEEDS Capital is pleased to share our latest newsletter. In this issue, we will be sharing recent developments, awards and recognition of our portfolio companies, as well as our new and follow-on investments. 


In collaboration with Startup SG, we held our first community event this year and it was wonderful to see many familiar faces come together to exchange ideas, catch up and build new connections over meaningful conversations. We look forward to growing our community as we continue supporting innovative Singapore-based tech startups.

Follow us on LinkedIn for the latest investment news and insights, and stay tuned for exciting updates on our portfolio companies!

Fundraise

Protenga expands its portfolio with its insect protein platform, a flexible and sustainable solution that revolutionises agrifood systems.

Protenga, a homegrown agritech startup, is expanding into key markets such as Indonesia and Malaysia, with our follow-on investment in a round participated by The Yield Labs and JBI Innovations.

Product Development and R&D

The AeviceMD team drives the development of medical innovations and solutions in tackling chronic respiratory disease.

AeviceMD Monitoring System, an award-winning patient management platform by Aevice Health, has received approval from the Singapore Health Sciences Authority (HSA) as the first of its kind in Singapore.

AlterPacks creates 100 organic food containers using spent grains such as malt and barley for a truly circular solution.

AlterPacks, a Singapore-based new material technology startup, recently raised US$1 million pre-seed funding to accelerate production and overseas expansion, to tackle food waste and reduce the use of single-use plastics.

Singrow utilises their exclusive platform in the production of high quality produce using personalised cultivation techniques.

Agri-genomics firm Singrow, has launched the world's first climate-resilient strawberry variety, and opened a new indoor farm in Singapore to serve as its main R&D hub to develop novel crop varieties. This is in line with its goals to address food security challenges globally.

Overseas market access and expansion

Alchemy Foodtech utilises food science and biochemisty expertise to reinvent Subway’s chocolate chip cookies.

Alchemy Foodtech, a Singapore-based foodtech startup, has enhanced its value proposition by expanding into sugar reduction solutions. Its technology has successfully reduced the sugar content in Subway’s chocolate chip cookie by almost half, while retaining similar taste and texture.

Partnerships and collaborations

BeeX's Hovering Autonomous Underwater Vehicle (HAUV) lessens the expenses and environmental impact caused by topside vessels.

Autonomous robotics specialist BeeX will deliver their next-generation Hovering Autonomous Underwater Vehicle (HAUV) for offshore wind, as part of an international consortium with offshore survey and inspection specialist, Sulmara, and structural integrity specialists at the University of Strathclyde.

Earlier this year, over 150 investors, founders and key startup ecosystem players came together at our first community event, organised in collaboration with Startup SG. Ms Tan Kaixin, General Manager of SEEDS Capital, shared that global early-stage VC fundraising activity remains fairly robust despite delays in new funding rounds and depressed valuations last year.  

X0PA AI was recognised in J.P. Morgan's Asia Pacific Top 100 Women-Powered, High-Growth Businesses Report. The B2B SAAS platform helps support hiring processes to be efficient and bias-free. The company has a presence in Singapore, UAE, India, and the United Kingdom. 

Our portfolio companies ZES and Transcelestial were part of the team that contributed to the success of launch of the 6U satellite JANUS-1. With their payload technologies now in space, the companies can collect data to ensure their products are fully functional and pave the way for commercial success in future.

Smart access startup Willowmore recently raised a successful Series A funding round, led by Greenwillow Capital and Oriza Holdings. The funds will expand the firm's smart locks and security solutions, as well as artificial intelligence capabilities.

KARANA Foods, Asia's first whole-plant-based meat brand, will continue to bring Singapore-developed technology to address food security and climate change challenges globally.

Nanofiltration solutions provider SepPure has secured US$12 million in a new Series A funding round, as it works towards replacing the complex gas-based distillation of oils with a membrane engineered at the nanometre scale.

Qritive joins our portfolio with their recent US$7.5 million in a Series A funding round. The healthcare AI startup plans to utilise the funds to grow its market presence, increase its product portfolio, and continue with regulatory clearance.

Ampotech

With Silicon Solution Partners

Ampotech improves building performance with IoT and edge computing technology. It will use the funds raised to further its international expansion and open its first international office.

Transcelestial

With Wavemaker Partners

Transcelestial specialises in next-generation wireless laser communications. It will use the funds raised for market expansion in the US and product development.

VFlowTech

With Real Tech Holdings Co.,Ltd.

VFlowTech manufactures low-cost and efficient modular vanadium redox flow batteries. It will use the funds raised to set up a 200MWh production line capacity and to scale up the manufacturing of energy storage solutions.

Insectta

With Trendlines Agrifood

Insectta develops an agritech solution converting pupae shells into valuable biomaterials. It will use the funds raised to set up pilot plant, expand its team, and file patents.

AiDA Technologies, an AI insurance tech startup, has been acquired by Amplify Health. Its established client base across Southeast Asia will bolster Amplify Health’s data capabilities. 

About SEEDS Capital
 

As the investment arm of Enterprise Singapore, SEEDS Capital catalyses smart investments into innovative Singapore-based early-stage startups with strong intellectual content and global market potential. We adopt a co-investment model, working hand in hand with institutional investors from around the world. Leveraging our collective expertise and networks, we help startups commercialise, realise their business development plans and expand globally. We focus our investments into emerging and strategic sectors aligned with national priorities, including Manufacturing, Trade & Connectivity, Human Health & Potential, Urban Solutions & Sustainability, and Smart Nation & Digital Economy.







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