List of 27 unicorn startups in Singapore (Sep 2024) - Tracxn (2024)

A unicorn is a startup marked at USD 1 Billion or more. These are highly innovative and market disruptive startups.

Singapore

has

more than

34.1K+

startups. Of these,

27

have

become Unicorn

s

, with the latest entrant to the club being

Silicon Box

on

Jan 09, 2024

.

In 2024, Singapore has seen 1 new unicorn startup (as of 13 September).

Globally,

Singapore

is number

10

in terms of total Unicorns created

, behind

France

(

30

unicorn

s

) at rank

9

and

Canada

(

30

unicorn

s

) at rank

8

.

Singapore

leads the list of cities in

Singapore

with most unicorns at

23

.

Among sectors,

Consumer

has seen the most unicorns created at

12

, followed by

Retail

at

9

, and

FinTech

at

7

Here is a list of all

27

unicorns created in

Singapore

:

Developer of chiplet interconnection products. It provides semiconductor integration service. It offers flexibility, scalability, and cost-effectiveness compared to traditional monolithic system-on-chip designs.

Key facts about Silicon Box

• Founded Year: 2021
• Location: Singapore (Singapore)
• Primary Sector: Semiconductor Design and Manufacturing Services
• Time to Unicorn: 3 years
• Latest Funding Round: Series B, Jan 09, 2024, $220M
• Top investors : UMC Capital, Tata
• Annual Revenue: $105K as on Dec 31, 2023
• Total Funding till date: $408M

Codapay provides payment processing solutions for businesses and merchants. Its solutions include carrier billing, bank transfers via payment gateways, cash payments at retail stores, voucher-based payments, and more. It facilitates online payments via credit/debit cards, wallets, bank transfers, and more. Its products include CODAPAY for payment solutions for websites, CODASHOP for selling online products, XSHOP for payment solutions for eCommerce websites, and more.

Key facts about Coda Payments

• Founded Year: 2011
• Location: Singapore (Singapore)
• Primary Sector: Payments
• Time to Unicorn: 11 years 3 months
• Latest Funding Round: Series C, Apr 14, 2022, $690M
• Top investors : GIC, Insight Partners
• Annual Revenue: $169M as on Dec 31, 2023
• Valuation: $2.5B as on Apr 14, 2022
• Total Funding till date: $715M

Protocol system for the multi-chain ecosystem. Its product portfolio includes a web3 router, a cross-chain messaging protocol, a multi-chain MPC network, and a blockchain explorer.

Key facts about Multichain

• Founded Year: 2020
• Location: Singapore (Singapore)
• Primary Sector: Smart Contracts and Blockchain Infrastructure
• Time to Unicorn: 1 year 11 months
• Latest Funding Round: Seed, Dec 20, 2021, $60M
• Top investors : IDG Capital, Sequoia Capital China
• Valuation: $1.2B as on Dec 21, 2021
• Total Funding till date: $60M

Blockchain-based video game development studio. The company focuses on developing NFT-based strategy and role-playing games. One of the games developed by the company includes Axie Infinity. The game is available on the PC platform.

Key facts about Sky Mavis

• Founded Year: 2019
• Location: Vietnam
• Primary Sector: , Gaming Tech and Blockchain Infrastructure
• Time to Unicorn: 2 years 9 months
• Latest Funding Round: Series B, Apr 06, 2022, $150M
• Top investors : Loot Spawn, Accel
• Valuation: $3B as on Oct 05, 2021
• Total Funding till date: $311M

App-based platform providing last-mile B2C delivery services. Enterprises, e-stores, and businesses can register on the platform and select doorstep delivery services for their packages. They can create orders, track shipments, upload bulk orders, enter shipping details, schedule deliveries, and receive customer payments.

Key facts about Ninja Van

• Founded Year: 2014
• Location: Singapore (Singapore)
• Primary Sector: Logistics Tech
• Time to Unicorn: 7 years 8 months
• Latest Funding Round: Series E, Sep 26, 2021, $578M
• Top investors : Orient Growth Ventures, Alibaba Group
• Annual Revenue: $37.1M as on Dec 31, 2023
• Valuation: $1.85B as on Sep 27, 2021
• Total Funding till date: $1.1B

Online listing platform offering multi-category second-hand products. The product catalog includes vehicles, gadgets, fashion, jobs, home decor, stationery, flowers, pet supplies, travel, sports, baby care, mom care, and more.

Key facts about Carousell

• Founded Year: 2012
• Location: Singapore (Singapore)
• Primary Sector: Horizontal E-Commerce
• Time to Unicorn: 9 years 8 months
• Latest Funding Round: Series E, Sep 04, 2023, $2.8M
• Top investors : EDBI, Heliconia Capital Management
• Annual Revenue: $116M as on Dec 31, 2023
• Valuation: $1.1B as on Sep 15, 2021
• Total Funding till date: $376M

Online marketplace offering multi-category products on purchase finance. The platform offers solutions for buy now pay later and consumer financing. The product catalog includes beauty, fashion, home decor, babycare, electronics, and more. Its mobile application is available on Android and iOS platforms.

Key facts about Atome

• Founded Year: 2016
• Location: Singapore (Singapore)
• Primary Sector: E-Commerce Enablers, In Store Retail Tech, Alternative Lending and Horizontal E-Commerce
• Time to Unicorn: 5 years 8 months
• Latest Funding Round: Conventional Debt, Jun 25, 2024
• Top investors : Temasek, HSBC
• Annual Revenue: $2.48M as on Dec 31, 2021
• Valuation: $2B as on Oct 13, 2022
• Total Funding till date: $170M

Platform offering tutoring solutions for students. It provides courses under various categories including coding, marketing, product design, finance, machine learning, digital marketing, and others. It offers professional education courses in collaboration with different universities.

Key facts about Emeritus

• Founded Year: 2015
• Location: Singapore (Singapore)
• Primary Sector: Continued Learning
• Time to Unicorn: 6 years 7 months
• Latest Funding Round: Conventional Debt, Mar 07, 2022, $350M
• Top investors : CPP Investments, Sequoia Capital
• Annual Revenue: $60.5M as on Jun 30, 2023
• Valuation: $3.2B as on Aug 12, 2021
• Total Funding till date: $803M

App-based platform offering crypto investment products and financial services solutions. It offers products for crypto trading, derivatives trading, crypto exchange, loans, and more. It offers cold-storage custodian services for digital currencies. It allows merchants to accept payments made in crypto assets through various solutions. The app is available for Android and iOS platforms.

Key facts about Matrixport

• Founded Year: 2019
• Location: Singapore (Singapore)
• Primary Sector: Cryptocurrencies and Venture Capital Funds
• Time to Unicorn: 2 years 7 months
• Latest Funding Round: Series C, Aug 02, 2021, $100M
• Top investors : DST Global, Lightspeed Venture Partners
• Valuation: $1.5B as on Nov 25, 2022
• Total Funding till date: $129M
• Employee Count: 290 as on Jul 19, 2023

Cross-border money transfer solutions for businesses. It provides tools to assist in sending, receiving, and making payments. It offers remittance-as-a-service technology to businesses in the fin-tech, travel, e-commerce, and banking sectors. It also offers APIs to support reporting, tracking, book-keeping, reconciliation, invoicing, and compliance solutions.

Key facts about NIUM

• Founded Year: 2014
• Location: Singapore (Singapore)
• Primary Sector: Digital Remittance
• Time to Unicorn: 7 years 6 months
• Latest Funding Round: Series E, Jun 05, 2024, $50M
• Top investors : GIC, Temasek
• Annual Revenue: $84.9M as on Dec 31, 2022
• Valuation: $1.4B as on Jun 04, 2024
• Total Funding till date: $312M
• Employee Count: 449 as on Jun 30, 2024

Insurance as a service solution for businesses and individuals. Connects insurers, distribution partners, and customers to transform the way insurance is bought and sold. Offers coverage for mobile phone insurance, travel insurance, and more. It also offers claims and on-demand servicing. It also offers device repair and valuation services.

Key facts about Bolttech

• Founded Year: 2020
• Location: Singapore (Singapore)
• Primary Sector: Insurance IT
• Time to Unicorn: 1 year 6 months
• Latest Funding Round: Series B, Sep 21, 2023, $50M
• Top investors : EDBI, B. Riley Financial
• Valuation: $1.6B as on May 17, 2023
• Total Funding till date: $493M

Online B2B marketplace platform offering multi-category fashion products. The product catalog includes loungewear, kidswear, shirts, winter wear, sleepwear bed linen, and more.

Key facts about Zilingo Shopping

• Founded Year: 2015
• Location: Singapore (Singapore)
• Primary Sector: B2B E-Commerce and Fashion Tech
• Time to Unicorn: 6 years 5 months
• Latest Funding Round: Series D, Feb 12, 2019, $226M
• Top investors : EDBI, Temasek
• Valuation: $970M as on Feb 13, 2019
• Total Funding till date: $304M

Provider of blockchain-based financial solutions. It provides users with crypto-based financial services like payments, exchanges, and wallets. It also allows users to buy, sell, and trade digital currencies, including Bitcoin, Ripple, and Ethereum. It also offers collateralized loans across stable coins and multiple currencies. It also provides margin trading and OTC liquidity solutions.

Key facts about Amber Group

• Founded Year: 2017
• Location: Singapore (Singapore)
• Primary Sector: Cryptocurrencies
• Time to Unicorn: 4 years 5 months
• Latest Funding Round: Series C, Dec 16, 2022, $300M
• Top investors : Temasek, DCM Ventures
• Annual Revenue: $12.6K as on Apr 30, 2015
• Valuation: $3B as on Feb 21, 2022
• Total Funding till date: $628M
• Employee Count: 5 as on Dec 31, 2021

Marketplace offering full stack service for car ownership. The platform enables users to buy and sell cars by providing vehicle details like vehicle model, expected price, features, and more.The platform offers features that include car rental, leasing, finance, and more. It uses AI and data analytics to provide customers personalized recommendations, vehicle reviews, and inventory searches based on specific needs and preferences.

Key facts about Carro

• Founded Year: 2015
• Location: Singapore (Singapore)
• Primary Sector: , and Consumer and SME Loans
• Time to Unicorn: 6 years 5 months
• Latest Funding Round: Conventional Debt, Jun 20, 2024, $55.5M
• Top investors : EDBI, Temasek
• Annual Revenue: $807M as on Mar 31, 2023
• Valuation: $1B as on Nov 25, 2021
• Total Funding till date: $626M
• Employee Count: 1,000 as on Jun 15, 2021

Cloud based platform offering enterprise management solutions. It provides disaster recovery, backup and restore, partitioning, boot management, privacy, data migration, and other storage management products for enterprises, corporations, and consumers of any qualification. It provides cyber protection solutions for service providers such as managed server backup, anti malware protection, MSP patch management, hosting service, data loss prevention, and more.

Key facts about Acronis

• Founded Year: 2003
• Location: Singapore (Singapore)
• Primary Sector: Enterprise Storage, Cybersecurity and IT Operations
• Time to Unicorn: 18 years 4 months
• Latest Funding Round: Series C, Jul 28, 2022, $250M
• Top investors : Kaplan Group Investments, Millennium Technology Value Partners
• Valuation: $3.5B as on Jul 28, 2022
• Total Funding till date: $658M
• Employee Count: 314 as on Dec 31, 2022

Platform offering patent analytics and management software. It provides users with patent search and analysis to manage and advance IP positions. The platform monitors the patent risk and thereby protects the IP assets in real time. Its product offerings include market and competitors data discovery solutions, data visualization, reports, and managing datasets that enable users to add patent and legal data.

Key facts about PatSnap

• Founded Year: 2007
• Location: Singapore (Singapore)
• Primary Sector: Legal Tech and Data as a Service
• Time to Unicorn: 14 years 2 months
• Latest Funding Round: Series E, Mar 16, 2021, $300M
• Top investors : Summit Partners, Tencent
• Annual Revenue: $38M as on Dec 31, 2022
• Valuation: $1B as on Aug 21, 2019
• Total Funding till date: $352M

Provider of managed co-working spaces for freelancers, startups, and small & large companies. The company offers private desks and co-working spaces. Some of the amenities provided are WiFi, telephone booths, event spaces, meeting rooms, printer services, and more.

Key facts about JustCo

• Founded Year: 2011
• Location: Singapore (Singapore)
• Primary Sector: Commercial Real Estate Tech
• Time to Unicorn: 9 years 10 months
• Latest Funding Round: Series C, Nov 28, 2019, $74M
• Top investors : Pinetree Capital, Sansiri
• Valuation: $1B as on Nov 19, 2020
• Total Funding till date: $86M

Provider of an online portal to find real estate properties. It provides users with a platform that enables users to specify a location to find a list of relevant registered properties and avail information such as transaction details, neighborhood insights, market reports, and more. The platform provides information on various mortgage packages. It also helps to connect with each other, market properties, manage sales, generate leads, connect with real estate agents locally/internationally, measure marketing ROI, and more.

Key facts about PropertyGuru

• Founded Year: 2006
• Location: Singapore (Singapore)
• Primary Sector: Commercial Real Estate Tech, Residential Real Estate Tech and Real Estate IT
• Time to Unicorn: 14 years 8 months
• Latest Funding Round: Series E, Aug 26, 2021, $147M
• Top investors : TPG, KKR
• Annual Revenue: $59.6M as on Dec 31, 2020
• Total Funding till date: $690M

Key facts about HyalRoute

• Founded Year: 2015
• Location: Singapore (Singapore)
• Primary Sector: Telecom Infrastructure
• Time to Unicorn: 5 years 4 months
• Latest Funding Round: Series D, May 26, 2020, $263M
• Top investors : Kuang-Chi, i-eVentures
• Valuation: $3.4B as on Sep 25, 2020
• Total Funding till date: $263M

Provider of retail store data analytics solutions. The platform offers signal based merchandising data and analytics solutions to manage product placement and inventory management. It generates reports to manage the decision making process and optimize performance in real time. Features include merchandising, in-store execution, shopper engagement, market measurement, analytics and shelf monitoring solutions, workforce management, inventory optimization, and more.

Key facts about Trax

• Founded Year: 2010
• Location: Singapore (Singapore)
• Primary Sector: In Store Retail Tech, Image Recognition and Big Data Analytics
• Time to Unicorn: 9 years 6 months
• Latest Funding Round: Venture Debt, Nov 08, 2023, $50M
• Top investors : Arctic Capital, Launchbay Capital
• Annual Revenue: $15M as on Dec 31, 2019
• Valuation: $2.4B as on Feb 08, 2022
• Total Funding till date: $1.02B

Provider of supply chain management solutions for fashion businesses. The platform enables wholesale trading and bulk buying of different products across categories like fashion, home improvements, electronics, beauty, and more from multiple brands. The mobile application is available for Android and iOS users. The company also offers a marketplace platform for businesses to sell products.

Key facts about Zilingo

• Founded Year: 2015
• Location: Singapore (Singapore)
• Primary Sector: Fashion Tech and E-Commerce Enablers
• Time to Unicorn: 4 years 1 month
• Latest Funding Round: Series D, Jun 28, 2021, $35M
• Top investors : EDBI, Temasek
• Annual Revenue: $100M as on Mar 31, 2019
• Valuation: $874M as on Dec 10, 2018
• Total Funding till date: $343M

News media platform covering combat sports. It provides news, videos, and events information on martial arts games to users. It also provides information about various martial arts artists. Its mobile app is available for Android and iOS devices.

Key facts about ONE Championship

• Founded Year: 2011
• Location: Singapore
• Primary Sector: Internet First Media and Sports Tech
• Time to Unicorn: 7 years 9 months
• Latest Funding Round: Series E, Dec 23, 2021, $150M
• Top investors : GIC, Temasek
• Annual Revenue: $67.7M as on Dec 31, 2021
• Valuation: $1.2B as on Dec 07, 2021
• Total Funding till date: $386M

TauRx is a developer of drugs and diagnostic compounds for Alzheimer's disease (AD), frontotemporal dementia (FTD), and other neurodegenerative diseases. The company’s lead proprietary compound, LMTX, a tau aggregation inhibitor, is in phase 3 clinical trials for the treatment of AD and FTD. The company is developing multiple compounds targeting misfolded synuclein protein, a defective protein, associated with Parkinson’s disease. It has identified a number of ligands binding to aggregated tau protein that could be used for brain imaging diagnostics.

Key facts about TauRx

• Founded Year: 2002
• Location: Singapore (Singapore)
• Primary Sector: Neurology
• Time to Unicorn: 16 years 2 months
• Latest Funding Round: Series E, Nov 14, 2022, $119M
• Top investors : Sin Heng Chan Pte Ltd, Evia Capital Partners
• Annual Revenue: $1.18M as on Jun 30, 2022
• Valuation: $2.5B as on Mar 02, 2018
• Total Funding till date: $434M

Provider of platform for casual mobile games and financial services. The company also developed arena games for mobiles like free fire, mobile battle royale games, digital payment services, digital content, e-commerce development, and mobile wallet services.

Key facts about Sea

• Founded Year: 2006
• Location: Singapore
• Time to Unicorn: 10 years 2 months
• Latest Funding Round: Series E, May 07, 2017, $550M
• Top investors : General Atlantic, Farallon Capital Management
• Valuation: $3.75B as on Mar 31, 2016
• Total Funding till date: $721M

Garena launched its first product, Garena+, an online gaming and social platform for people to meet, chat and play games with each other. Garena also has TalkTalk, real-time voice and video communication platform, BeeTalk, mobile social network in Southeast Asia. In 2014, it launched AirPay to provide financial services in emerging markets. Garena users can pay for online games, telephone bills, utilities, and e-commerce transactions on the AirPay network.

Key facts about Garena

• Founded Year: 2007
• Location: Singapore
• Primary Sector: , Mobile Gaming, eSports and OTT Video
• Time to Unicorn: 8 years 2 months
• Latest Funding Round: Series E, May 08, 2017, $550M
• Top investors : General Atlantic, Farallon Capital Management
• Valuation: $1B as on Jul 22, 2014
• Total Funding till date: $722M

App-based platform for booking personal transportation. Users can book rides by providing location, user details, payment details, preferred dates, destination. They offer services like deliveries, mobility, financial services, and more.

Key facts about Grab

• Founded Year: 2012
• Location: Singapore (Singapore)
• Primary Sector: Logistics Tech and Road Transport Tech
• Time to Unicorn: 2 years 11 months
• Latest Funding Round: Post IPO, Jul 27, 2021, $375M
• Top investors : AQVC, GPI Capital
• Annual Revenue: $1.76B as on Dec 31, 2023
• Valuation: $6B as on Mar 07, 2018
• Total Funding till date: $10.4B

Online marketplace offering multi-category products. The product catalog includes electronics, home appliances, household goods, toys, sports equipment, beauty, fashion, and more. It offers free returns, customer service, and warranty services.

Key facts about Lazada

• Founded Year: 2012
• Location: Singapore (Singapore)
• Primary Sector: Horizontal E-Commerce
• Time to Unicorn: 2 years 10 months
• Latest Funding Round: Series E, Nov 29, 2014, $254M
• Top investors : Summit Partners, Access Technology Ventures
• Annual Revenue: $618M as on Dec 31, 2023
• Total Funding till date: $690M