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Investors Darlings – Top 10 Singapore Headquartered Companies who raised more than US$ 100M in 2019
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Singapore is recognized as an alpha + global city and an Asian Tiger economy. It is a highly developed country with the 7th highest GDP per capita in the world. Singapore attracts huge foreign investment due to its strategic location, highly skilled workforce, lower tax rates, world-class infrastructure, and no corruption.
More than 7,000 MNCs from the US, Europe, and Japan have their offices in Singapore. Approximately 1,500 companies from China and India are also based out of this island nation.
Singapore is an economic powerhouse and an innovation-driven economy. It is home to over 40,000 startups including 6 unicorns – Sea, Lazada, Razer, Grab, Bigo Live, and Trax. There are 100’s of startup accelerators, incubators, and VCs active in Singapore backing the startup ecosystem.
2019 has been an amazing year for Singapore headquartered startups with 21 companies raising more than 100M USD in a funding round. Below is the complete list.
| Organization Name | Last Funding Amount Currency (in USD) | Last Funding Date |
| Sea | $1,350,000,000 | 2019-03-06 |
| Funding Societies | $732,152,858 | 2019-11-27 |
| Ocean Properties | $369,535,899 | 2019-06-18 |
| Frasers Property | $351,000,000 | 2019-07-17 |
| Keppel DC REIT | $348,084,081 | 2019-09-17 |
| MAPLETREE Industrial Trust | $290,620,583 | 2019-09-18 |
| Zilingo | $226,000,000 | 2019-02-11 |
| Frasers Logistics and Industrial Trust | $188,332,299 | 2019-07-30 |
| City Developments | $180,611,173 | 2019-09-04 |
| Kacific | $160,000,000 | 2019-12-06 |
| Yoma Strategic Holdings | $155,000,000 | 2019-11-14 |
| Suntec REIT | $146,790,499 | 2019-04-25 |
| Manulife US REIT | $142,700,000 | 2019-09-22 |
| SPH Reit | $120,567,141 | 2019-11-22 |
| ESR-Reit | $114,227,600 | 2019-03-06 |
| Keppel REIT Fin | $110,251,962 | 2019-12-05 |
| Ascendas India Trust | $110,114,048 | 2019-11-20 |
| Trax | $100,000,000 | 2019-07-23 |
| Near | $100,000,000 | 2019-07-16 |
| Deskera | $100,000,000 | 2019-05-03 |
| Sun Electric | $100,000,000 | 2019-12-06 |
Here are the top 10 startups, their offerings, and funding details.
Sea
Sea is a mobile and online entertainment provider. Forrest Li founded this company in 2008. Sea’s mission is to better the lives of consumers and small businesses of their region with technology. The company operates three revolutionary and industry-leading platforms across digital entertainment, e-commerce, and digital financial services. In Mar 2019, the company raised US$1.35B in its Post-IP0 equity funding round. Tencent Holdings was the sole investor. The company is planning to use the funds for business expansion and growth.
Funding Societies
This company provides an online platform for peer to peer lending for small and medium enterprises to acquire loans. It was founded in June 2015 by Iwan Kurniawan, Kelvin Teo, Reynold Wijaya. In Nov 2019, the company raised massive funding of SGD1B (732M USD) through a debt financing round.
Ocean Properties
It is a startup in the commercial property development and management domain. In June 2019, Ocean Properties secured SGD505B (370M USD) in a debt financing round.
Frasers Property
This company was founded in the year 1988 and operates in the real estate niche. It owns, develops, and manages a vast portfolio of properties across the globe. In a post-IPO debt funding round in July 2019, the company managed to raise US$351M. ANZ, Barclays, Scotiabank, OCBC bank of Singapore, First Abu Dhabi Bank, and Mizuho Corporate Bank participated in the funding round.
Keppel DC REIT
This company invests in income-producing real estate projects. Keppel DC REIT secured SGD 478.2M (348M USD) in Sept 2019 in a post IPO equity round. The company planned to use the funds to acquire a 99 percent stake in data center Keppel DC REIT Singapore 4 and 100 percent stake in 1 Net North Data Centre.
MAPLETREE Industrial Trust
MAPLETREE is a real estate investment trust finding its place on the Main Board of the Singapore Exchange. In Sep 2019, the company raised SGD400M (290M USD) through a Post-IPO equity funding round.
Zilingo
This company was founded in the year 2015 by Ankiti Bose and Dhruv Kapoor. It is a commerce platform making the fashion and beauty supply chain more efficient through innovative technology. The company went through a Series D funding round in Feb 2019 and raised US$226M. Various investors took part actively in the funding round, out of which Sequoia Capital India was the leading investor. Other investors of the company involve Temasek Holdings, Sofina, EDBU, and Burda Principal Investments. The company will use this fund to digitize its functioning in the fashion supply chain.
Frasers Logistics and Industrial Trust
Frasers Logistics and Industrial Trust is a real estate investment company. Founded in 2015, the company is doing great in the real estate niche. In July 2019, the company got funding of SGD258.1M (188M USD) in a Post IPO equity round.
City Developments
It is a leading global real estate company. Founded in the year 1963, the company is a well-established player in the real estate industry. In a post IPO debt round, the company raised 180M USD.
Kacific
Kacific is an innovative, next-gen broadband satellite company with a vision to provide fast, superior quality broadband services at low costs using cutting-edge technologies and agile business methodology. Christian Patouraux and Cyril Annarella founded this company on 1st June 2013. Recently in Dec 2019, Kacific went through a debt financing funding round in which it raised US$160M. GuarantCo and Asian Development Bank were the investors. The company mentioned that the funding will help in operational mode and the launch of Kacific1 – the company’s first Ka-band high throughput satellite to fulfill the company’s objective to provide fast, superior quality broadband services at low costs.
Keep an eye on our investor darling series on AsiaTechDaily. We would be covering all major countries in Asia.
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