Friday, June 21

Tag: singapore

Singapore started Automated Immigration Clearance Lanes at Changi Airport
News

Singapore started Automated Immigration Clearance Lanes at Changi Airport

Singapore, May 19, 2024 - Singapore's Immigration and Checkpoints Authority (ICA) proudly announces the extension of automated immigration lanes to all foreign visitors arriving at Singapore Changi Airport, regardless of nationality or the type of passport, making the arrival process more efficient and stress-free. The new development incorporates biometric identification using iris and facial recognition technology as the primary identifiers for immigration clearance. In instances where these methods prove unsuccessful, fingerprints will be utilized as an additional biometric identifier. Unnecessary registration is no longer a prerequisite for utilizing these advanced facilities. Passengers can now seamlessly proceed through the automated lanes upon arrival. Forward-thinking depart...
Singapore Government Raises Minimum Wages for Expats
News

Singapore Government Raises Minimum Wages for Expats

18th March, 2024: Singapore Government has implemented new regulations regarding minimum wages for foreign workers, particularly focusing on the Employment Pass (EP) policy. The Ministry of Manpower (MOM) has announced adjustments to the EP minimum qualifying salary, increasing it from $5,000 to $5,600 per month. This increment will be progressively raised with age, reaching up to $10,700 for individuals in their mid-40s. These changes aim to maintain equitable opportunities for local employees across all age demographics. The EP is a work permit that allows foreign professionals, managers, and executives to be employed in Singapore. The minimum qualifying salary for the EP is based on the top one-third of local PMET1 wages, ensuring that EP holders meet high-quality standards. The...
Singapore based Sparrow raises USD 3.5 million in Series A funding
FUNDING

Singapore based Sparrow raises USD 3.5 million in Series A funding

SINGAPORE, June 22, 2020-- Sparrow, the leading options trading platform has secured USD 3.5 million in Series A funding to accelerate platform development.  The round was led by the HDR Group, owner and operator of BitMEX, and supported by Signum Capital, Du Capital, and FinLab EOS VC.  Kenneth Yeo, CEO of Sparrow said, "We are really pleased that the round received strong support despite the harsh economic climate caused by COVID-19. The strong interest from investors validates our view that digital asset options will be the next high-growth market." "We would like to thank our partners and users for their overwhelming support. Volumes have tripled since the start of the year. With this round of funding, we are in a good position to bring even more exciting trading products to ...
Singapore based eScooter startup Beam secures $26 million funding
FUNDING

Singapore based eScooter startup Beam secures $26 million funding

Singapore, 1 June 2020 – Beam, Singapore based leading eScooter startup raises US$26 million in Series A round of funding. The funding round was led by Sequoia India and Hana Ventures and included investors across APAC. Beam is forging a new path for micromobility in contrast to the established dockless model that allows scooters to be parked anywhere on city streets. For Beam, the future is docked. Having a “virtual docked” model ensures riders park in predetermined parking spots by offering incentives through the Beam mobile app. "We're grateful to our incredibly supportive investors who believe in our unique 'virtual dock' approach to micromobility and continue to support us through a very uncertain macroeconomic environment. I'm really excited about our new technology an...
Wireless tech startup Ray Raises funding from Quick Heal
FUNDING

Wireless tech startup Ray Raises funding from Quick Heal

May 22nd, 2020: Antivirus maker Quick Heal announced a strategic investment of $263k (INR 2 Crores) in Ray Pte. Ltd., a Singapore based start-up specializing in next-generation networking and wireless technology. The investment reinforces a shared vision of ensuring a safe, secure and seamless digital experience for everyone. The development displays Quick Heal’s ongoing efforts to invest in disruptive technologies that will shape the future of cybersecurity while supporting innovative startups. The company had recently invested USD 300,000 in Israel based L7 Defense. Incorporated in the year 2019, Ray is an innovation driven technology company with a vision to reimagine networking and wireless technology. Ray’s flagship product RayOS is an open, secure, cloud native, extensible Op...
Singapore logistics firm Ninja Van raises $279 million
FUNDING

Singapore logistics firm Ninja Van raises $279 million

SINGAPORE, 5th May 2020- Singapore based eCommerce logistic startup Ninja Van raises $279 million in funding from Facebook co-founder Eduardo Saverin’s B Capital and ride-hailing firm Grab. Existing investor Europe’s GeoPost alongside two sovereign wealth funds have also participated in this round. Other investors include Monk’s Hill Ventures and Golden Gate Ventures Growth Fund. The company so far has raised a total of $400 million. Launched in 2014 with operations in Singapore and Malaysia, the company has also expanded into countries like the Philippines, Indonesia, Thailand, and Vietnam. The company provides services to e-commerce firms like Alibaba’s Lazada, Indonesia’s Tokopedia, and Sea Ltd’s Shopee. Ninja Van will use this funding to invest in the b2b sector while...
Singapore stops Zoom for Online Education as Hackers Strike
News

Singapore stops Zoom for Online Education as Hackers Strike

Singapore has suspended the use of Zoom for online education after hackers hijacked a lesson and showed obscene images to students. In what is known as “Zoombombing,” two hackers interrupted a geography lesson a day after Singapore closed schools on Wednesday as part of partial lockdown measures to curb local transmissions of COVID-19. Lessons have moved online, with some teachers using video conferencing tools like Zoom. Singapore’s Ministry of Education said it was investigating the “serious incidents” and may file police reports. "We are already working with Zoom to enhance its security settings and make these security measures clear and easy to follow,” said Aaron Loh, director of the ministry’s Educational Technology Division. "As a precautionary measure, our teachers ...
Blue Planet raises US$25 million from Nomura
FUNDING

Blue Planet raises US$25 million from Nomura

Singapore and India - 25 March 2020 – Singapore headquartered Blue Planet has raised US$25 million from Nomura, Asia’s global investment bank. This strategic engagement by Nomura will help Blue Planet continue its efforts to develop integrated, inclusive and sustainable waste management solutions around the region. By the end of 2030, Asia is predicted to account for half of the world’s middle-class consumption. Waste generation rates are set to soar along with this increase in demand for resources. Solid waste, in particular plastic and organic waste, is becoming a key challenge for the rapidly developing nations in the region as they seek to fulfill their commitments to climate change and to reduce marine pollution. Blue Planet was founded with the vision to help avert th...
Microsoft Co-founder Led Vulcan Capital Opened its First International Office in Singapore
News

Microsoft Co-founder Led Vulcan Capital Opened its First International Office in Singapore

Vulcan Capital, the multi-billion-dollar investment arm of the late Microsoft co-founder and philanthropist Paul G. Allen, opened its first international office in Singapore. In the initial phase, Vulcan Capital will deploy US $100 million into venture opportunities across Southeast Asia, making it one of the largest early stage platforms of its kind to be established in the region. Formed in 2003, Vulcan Capital takes an entrepreneur-friendly approach and invests in both private and public companies with a long-term investment horizon. The company, now including its Singapore office, is unique in that investment returns generated by Vulcan Capital will go towards funding the development of globally focused philanthropic initiatives, delivered through Vulcan and its many partners. T...
Klook Raises $425 million Funding from Softbank Vision Fund
FUNDING

Klook Raises $425 million Funding from Softbank Vision Fund

Klook, a world leading travel activities and services booking platform has raised $225 million in Series D round. The funding round was led by SoftBank Vision Fund with participation from existing investors, including Sequoia China, Matrix Partners, TCV, and OurCrowd. This is the biggest round of funding in the global travel activities and services industry. In just four years, Klook has become the most searched travel activities and services company on Google. In the last year, the Hong Kong-based company expanded its global footprint into Australia, Europe, and the United States to deliver new, unique and exciting consumer experiences. Klook also entered into major global partnerships with Shangri-La Hotels and Resorts, Asia Pacific's leading luxury hotel group; and ...
Singapore-based Grab in Advanced Talks to Invest $100 Million in OYO
BUSINESS

Singapore-based Grab in Advanced Talks to Invest $100 Million in OYO

Singapore ride-hailing company Grab is in advanced talks to invest $100 million (Rs 697.7 crore) in OYO Hotels & Homes as part of the Indian hospitality chain’s ongoing $1 billion funding round. Grab is expected to close the deal over the next few days, according to two people briefed on the matter. Grab and OYO, both of which count SoftBank as one of their primary investors, have identified Indonesia as a key market for growth. Grab, which has been going head-to-head with Indonesia’s ride-hailing and logistics startup Go-Jek, has stated its intention of entering sectors ranging from grocery delivery to healthcare, according to a report by Bloomberg. OYO announced the launch of its operations in Indonesia in October last year. At the time, the Ritesh Agarwal-led company starte...