Top Startups in Singapore: Shaping the Future of Innovation

Singapore, a global hub of innovation and technology, is home to a vibrant startup ecosystem. Known for its supportive government policies, strategic location, and excellent infrastructure, Singapore nurtures a diverse range of startups across various industries. In this blog post, we will explore the top startups in Singapore, highlighting their industry, founders, year of foundation, and valuations. These startups are not only making waves in their respective fields but are also contributing significantly to the country's economy and technological advancements.

1. Grab

Industry: Transportation, Food Delivery, Fintech
Founders: Anthony Tan, Tan Hooi Ling
Year of Foundation: 2012
Valuation: $16 billion

Grab, founded by Anthony Tan and Tan Hooi Ling in 2012, started as a ride-hailing service and has since evolved into a super app offering transportation, food delivery, and financial services. Its user-friendly platform and extensive service range have made Grab a household name in Southeast Asia.

2. Sea Group

Industry: E-commerce, Digital Entertainment, Digital Finance
Founders: Forrest Li
Year of Foundation: 2009
Valuation: $100 billion

Sea Group, founded by Forrest Li in 2009, is a leading internet company in Southeast Asia. The group operates three main businesses: Garena (digital entertainment), Shopee (e-commerce), and SeaMoney (digital finance services). Sea Group’s rapid growth and expansion have positioned it as a key player in the region’s digital economy.

3. Carousell

Industry: E-commerce
Founders: Quek Siu Rui, Marcus Tan, Lucas Ngoo
Year of Foundation: 2012
Valuation: $1.1 billion

Carousell, founded by Quek Siu Rui, Marcus Tan, and Lucas Ngoo in 2012, is a popular classifieds platform that allows users to buy and sell items easily. With its simple interface and broad user base, Carousell has become a leading marketplace in Southeast Asia.

4. PatSnap

Industry: Intellectual Property, Research and Development
Founders: Jeffrey Tiong
Year of Foundation: 2007
Valuation: $1 billion

PatSnap, founded by Jeffrey Tiong in 2007, is a global leader in intellectual property and innovation intelligence. The platform helps companies analyze patents and research data to make informed R&D decisions. PatSnap’s comprehensive database and analytics tools are invaluable for businesses looking to innovate and protect their intellectual property.

5. Trax

Industry: Retail Technology
Founders: Joel Bar-El, Dror Feldheim
Year of Foundation: 2010
Valuation: $2 billion

Trax, founded by Joel Bar-El and Dror Feldheim in 2010, provides computer vision solutions for the retail industry. Trax’s technology helps retailers optimize shelf management and improve inventory accuracy, leading to better sales and customer satisfaction.

6. Zilingo

Industry: Fashion, E-commerce
Founders: Ankiti Bose, Dhruv Kapoor
Year of Foundation: 2015
Valuation: $970 million

Zilingo, founded by Ankiti Bose and Dhruv Kapoor in 2015, is an online fashion marketplace that connects retailers, manufacturers, and suppliers across Asia. The platform aims to digitize the fashion supply chain, providing tools for inventory management, data analytics, and more.

7. Razer

Industry: Gaming Hardware, Financial Technology
Founders: Min-Liang Tan, Robert Krakoff
Year of Foundation: 2005
Valuation: $2.4 billion

Razer, founded by Min-Liang Tan and Robert Krakoff in 2005, is a leading global brand in gaming hardware and software. Razer’s high-performance gaming products and its expansion into fintech with services like Razer Pay have solidified its position in the tech industry.

8. ShopBack

Industry: E-commerce, Cashback Services
Founders: Henry Chan, Joel Leong
Year of Foundation: 2014
Valuation: $1 billion

ShopBack, founded by Henry Chan and Joel Leong in 2014, is a cashback rewards platform that partners with merchants to offer discounts and cashback to consumers. With its extensive network of partners and user-friendly app, ShopBack has become a popular choice for savvy shoppers.

9. Doctor Anywhere

Industry: Healthtech
Founders: Lim Wai Mun
Year of Foundation: 2015
Valuation: $400 million

Doctor Anywhere, founded by Lim Wai Mun in 2015, is a healthtech platform that provides telehealth services, allowing patients to consult doctors online. The platform also offers home-based healthcare services and prescription delivery, making healthcare more accessible and convenient.

10. Advance.ai

Industry: Artificial Intelligence, Fintech
Founders: Jefferson Chen
Year of Foundation: 2015
Valuation: $1 billion

Advance.ai, founded by Jefferson Chen in 2015, leverages artificial intelligence to provide solutions for identity verification, credit scoring, and fraud detection. Its innovative technology is used by financial institutions and businesses across Asia to improve efficiency and security.

11. GrabPay

Industry: Fintech
Founders: Anthony Tan, Tan Hooi Ling
Year of Foundation: 2012 (as part of Grab)
Valuation: Part of Grab’s $16 billion valuation

GrabPay, the fintech arm of Grab, offers digital payment solutions that enable seamless transactions for users and merchants. With its integration into the Grab ecosystem, GrabPay has become a key player in promoting cashless payments in Southeast Asia.

12. RedDoorz

Industry: Hospitality
Founders: Amit Saberwal
Year of Foundation: 2015
Valuation: $140 million

RedDoorz, founded by Amit Saberwal in 2015, is a budget hotel brand that aims to provide affordable and quality accommodations across Southeast Asia. RedDoorz’s standardized services and extensive network of properties make it a popular choice for travelers seeking reliable budget accommodations.

13. Lazada

Industry: E-commerce
Founders: Maximilian Bittner
Year of Foundation: 2012
Valuation: $4 billion

Lazada, founded by Maximilian Bittner in 2012, is one of the largest e-commerce platforms in Southeast Asia. Acquired by Alibaba Group, Lazada offers a wide range of products and services, from electronics to fashion, and is known for its robust logistics network and customer-centric approach.

14. Hoolah

Industry: Fintech
Founders: Stuart Thornton, Arvin Singh, Raghav Kapoor
Year of Foundation: 2018
Valuation: $200 million

Hoolah, founded by Stuart Thornton, Arvin Singh, and Raghav Kapoor in 2018, offers a buy-now-pay-later service that allows consumers to split their purchases into interest-free installments. Hoolah’s flexible payment options have gained popularity among shoppers and merchants alike.

15. V-Key

Industry: Cybersecurity
Founders: Benjamin Mah, Joseph Gan, Er Chiang Kai
Year of Foundation: 2011
Valuation: $100 million

V-Key, founded by Benjamin Mah, Joseph Gan, and Er Chiang Kai in 2011, is a cybersecurity company that provides mobile security solutions to protect digital identities and transactions. V-Key’s technology is used by banks and enterprises to ensure secure mobile interactions.

16. Carro

Industry: Automotive, E-commerce
Founders: Aaron Tan, Aditya Lesmana, Kelvin Chng
Year of Foundation: 2015
Valuation: $300 million

Carro, founded by Aaron Tan, Aditya Lesmana, and Kelvin Chng in 2015, is an online marketplace for buying and selling cars. Carro offers a range of services including car financing, insurance, and maintenance, making the car ownership experience seamless and hassle-free.

17. Tookitaki

Industry: Regtech, Artificial Intelligence
Founders: Abhishek Chatterjee
Year of Foundation: 2014
Valuation: $50 million

Tookitaki, founded by Abhishek Chatterjee in 2014, provides regulatory compliance solutions powered by artificial intelligence. Tookitaki’s platform helps financial institutions detect and prevent financial crimes, ensuring compliance with regulatory standards.

18. Homage

Industry: Healthtech
Founders: Gillian Tee
Year of Foundation: 2016
Valuation: $100 million

Homage, founded by Gillian Tee in 2016, is a healthtech startup that provides on-demand home care services. Homage connects caregivers with families in need of elderly care, nursing services, and rehabilitation therapy, making it easier for individuals to receive quality care at home.

19. Biofourmis

Industry: Healthtech
Founders: Kuldeep Singh Rajput, Hani Jahanshahi
Year of Foundation: 2015
Valuation: $100 million

Biofourmis, founded by Kuldeep Singh Rajput and Hani Jahanshahi in 2015, leverages AI and wearable technology to provide predictive healthcare solutions. Biofourmis’s platform monitors patients’ health data in real-time, enabling proactive and personalized care management.

20. Gnowbe

Industry: Edtech
Founders: So-Young Kang, Adrian Tan

Year of Foundation: 2015
Valuation: $50 million

Gnowbe, founded by So-Young Kang and Adrian Tan in 2015, offers a mobile-first learning platform that focuses on micro-learning and employee training. Gnowbe’s interactive and engaging content helps organizations enhance their workforce’s skills and knowledge.

Conclusion

Singapore’s startup scene is dynamic and diverse, with companies making significant strides across various industries. From fintech and healthtech to e-commerce and edtech, these startups are not only driving innovation but also shaping the future of their respective fields. With strong leadership and cutting-edge technology, these companies are set to continue their impressive growth and contribute to Singapore's reputation as a global tech hub.