Singapore, a nation with a rich history of innovation and entrepreneurship, has witnessed an incredible surge in the number of unicorns – privately held start-up companies valued at over $1 billion – in recent years. With the rapid growth of the Singapore economy and the rise of disruptive technologies, these 14 unicorn companies have become the driving force behind the nation’s rise as a global powerhouse.
So without any delay, let’s get started and discover the world of Singapore’s unicorn companies!
List of 14 Unicorns in Singapore
1. HyalRoute
A Chinese logistics and supply chain technology company that provides logistics solutions and services for businesses.
Company Details:
- Valuation: $3.50B
- Investors Name: –
- City: Mobile & telecommunications
- Industry: Kuang-Chi
- Total Funding Raised: $263.12M
- Founded Year: 2015
- Joined Unicorn Club: 5/26/2020
- Total Investors:
- Total Deal Terms: 1
- Website: https://www.hyalroute.com/
2. Moglix
An e-commerce platform for industrial products and supplies
Company Details:
- Valuation: $2.60B
- Investors Name: –
- City: E-commerce & direct-to-consumer
- Industry: Jungle Ventures, Accel, Venture Highway
- Total Funding Raised: $470.71M
- Founded Year: 2015
- Joined Unicorn Club: 5/17/2021
- Total Investors:
- Total Deal Terms: 6
- Website: https://www.moglix.com/
3. Coda Payments
Offers a digital payment gateway for gaming and other industries in Southeast Asia
Company Details:
- Valuation: $2.50 B
- Investors Name: GIC. Apis Partners, Insight Partners
- City: –
- Industry: Fintech
- Total Funding Raised: –
- Founded Year: –
- Joined Unicorn Club: 4/15/2022
- Total Investors:
- Total Deal Terms: –
- Website: https://www.codapayments.com/
4. Advance Intelligence Group
Develops machine learning and AI technology for the financial and healthcare sectors
Company Details:
- Valuation: $2B
- Investors Name: –
- City: Artificial intelligence
- Industry: Vision Plus Capital, GSR Ventures, ZhenFund
- Total Funding Raised: $536M
- Founded Year: 2016
- Joined Unicorn Club: 9/23/2021
- Total Investors:
- Total Deal Terms: 1
- Website: https://www.aiot.ai/
5. FinAccel
Provides digital credit card services and other financial products to customers in Southeast Asia
Company Details:
- Valuation: $1.66 B
- Investors Name: Jungle Ventures, Square Peg Capital, OpenSpace Ventures
- City: –
- Industry: Fintech
- Total Funding Raised: –
- Founded Year: –
- Joined Unicorn Club: 8/15/2022
- Total Investors:
- Total Deal Terms: –
- Website: https://finaccel.co/
6. Trax
Offers computer vision technology and analytics for the retail industry
Company Details:
- Valuation: $1.30B
- Investors Name: –
- City: Artificial intelligence
- Industry: Hopu Investment Management, Boyu Capital, DC Thomson Ventures
- Total Funding Raised: $1.013B
- Founded Year: 2010
- Joined Unicorn Club: 7/22/2019
- Total Investors:
- Total Deal Terms: 5
- Website: https://traxretail.com/
7. Carousell
A mobile marketplace for buying and selling new and used goods
Company Details:
- Valuation: $1.10B
- Investors Name: –
- City: E-commerce & direct-to-consumer
- Industry: 500 Global, Rakuten Ventures, Golden Gate Ventures
- Total Funding Raised: $443M
- Founded Year: 2012
- Joined Unicorn Club: 9/15/2021
- Total Investors:
- Total Deal Terms: 7
- Website: https://www.carousell.com/
8. Matrixport
A financial services platform for cryptocurrencies founded by Bitmain’s co-founder
Company Details:
- Valuation: $1.05B
- Investors Name: –
- City: Fintech
- Industry: Dragonfly Captial, Qiming Venture Partners, DST Global
- Total Funding Raised: $126.55M
- Founded Year: 2019
- Joined Unicorn Club: 6/1/2021
- Total Investors:
- Total Deal Terms: 1
- Website: https://www.matrixport.com/
9. ONE
A logistics company providing integrated supply chain solutions
Company Details:
- Valuation: $1B
- Investors Name: –
- City: Internet software & services
- Industry: Temasek, Guggenheim Investments, Qatar Investment Authority
- Total Funding Raised: $486M
- Founded Year: 2011
- Joined Unicorn Club: 12/8/2021
- Total Investors:
- Total Deal Terms: 1
- Website: https://www.one-line.com/
10. Ninja Van
An e-commerce logistics company offering last-mile delivery services
Company Details:
- Valuation: $1B
- Investors Name: –
- City: Supply chain, logistics, & delivery
- Industry: B Capital Group, Monk’s Hill Ventures, Dynamic Parcel Distribution
- Total Funding Raised: $976.5M
- Founded Year: 2014
- Joined Unicorn Club: 9/27/2021
- Total Investors:
- Total Deal Terms: 6
- Website: https://www.ninjavan.co/
11. NIUM
A leading digital cross-border payments platform
Company Details:
- Valuation: $1B
- Investors Name: –
- City: Fintech
- Industry: Vertex Ventures SE Asia, Global Founders Capital, Visa Ventures
- Total Funding Raised: $259.1M
- Founded Year: 2014
- Joined Unicorn Club: 7/13/2021
- Total Investors:
- Total Deal Terms: 3
- Website: https://www.nium.com/
12. bolttech
A global insurtech company leveraging AI and data analytics
Company Details:
- Valuation: $1B
- Investors Name: –
- City: Fintech
- Industry: Mundi Ventures, Doqling Capital Partners, Activant Capital
- Total Funding Raised: $502.2M
- Founded Year: 2018
- Joined Unicorn Club: 7/1/2021
- Total Investors:
- Total Deal Terms: 1
- Website: https://bolttech.io/
13. Carro
An online marketplace for buying and selling used cars
Company Details:
- Valuation: $1B
- Investors Name: –
- City: E-commerce & direct-to-consumer
- Industry: SingTel Innov8, Alpha JWC Ventures, Golden Gate Ventures
- Total Funding Raised: $684.52M
- Founded Year: 2015
- Joined Unicorn Club: 6/14/2021
- Total Investors:
- Total Deal Terms: 4
- Website: https://carro.sg/
14. PatSnap
A provider of research and development analytics for intellectual property and innovation
Company Details:
- Valuation: $1B
- Investors Name: –
- City: Internet software & services
- Industry: Sequoia Capital China, Shunwei Capital Partners, Qualgro
- Total Funding Raised: $352.32M
- Founded Year: 2007
- Joined Unicorn Club: 3/16/2021
- Total Investors:
- Total Deal Terms: 3
- Website: https://www.patsnap.com/
Conclusion
In conclusion, Singapore’s top 14 unicorns showcase the nation’s innovative power and economic growth. These companies are making a global impact and reshaping industries. Keep an eye on these trailblazers, as they continue to redefine success in the ever-evolving world of innovation.