The Top 10 Unicorn Singapore’s Startup
Singapore’s startup ecosystem continues to thrive, with numerous companies achieving unicorn status. Here is a detailed look at the top 10 unicorn startups in Singapore, focusing on their services, technologies, unique selling points, competitive edge, and how they address market needs.
1. Trax
Service and Technology: Trax provides retail analytics solutions that use computer vision and artificial intelligence to help retailers increase sales, manage costs, and create new customer experiences.
Their technology captures shelf images through smartphones or fixed cameras, which are then processed to deliver real-time data on shelf conditions, out-of-stock items, and pricing accuracy.
Unique Selling Points and Competitive Edge:
- Advanced AI and Computer Vision: Provides accurate and actionable insights.
- Real-time Data: Helps retailers make immediate decisions to optimize shelf conditions.
Market Needs Addressed:
- Operational Efficiency: Enhances inventory management and reduces out-of-stock situations.
- Sales Optimization: Helps increase sales through better shelf management and customer insights.
Funding and Valuation:
- Founded: 2010
- Valuation: $1.3 billion
- Key Investors: Warburg Pincus, BlackRock (Failory).
2. Insider
Service and Technology: Insider offers a marketing platform that enables marketers to connect customer data across channels, predict behavior using AI, and personalize cross-channel experiences.
Their platform integrates with various data sources and utilizes machine learning to deliver targeted and personalized marketing campaigns.
Unique Selling Points and Competitive Edge:
- AI-Powered Insights: Provides predictive analytics to anticipate customer behavior.
- Cross-Channel Personalization: Enhances customer engagement through personalized experiences.
Market Needs Addressed:
- Customer Engagement: Improves marketing effectiveness and customer retention.
- Data Integration: Consolidates customer data from multiple sources for better insights.
Funding and Valuation:
- Founded: 2012
- Valuation: $1.22 billion
- Key Investors: Sequoia Capital, Riverwood Capital (Failory).
3. Carousell
Service and Technology: Carousell is an online classifieds marketplace where users can buy and sell pre-owned items.
The platform supports a wide range of categories including electronics, fashion, home goods, and cars. Carousell leverages mobile technology to provide a user-friendly interface for listing and discovering items.
Unique Selling Points and Competitive Edge:
- Mobile-Friendly Platform: Easy to use and accessible on the go.
- Diverse Categories: Offers a wide range of items, catering to various needs.
Market Needs Addressed:
- Sustainability: Promotes the reuse and recycling of items.
- Convenience: Simplifies the process of buying and selling second-hand goods.
Funding and Valuation:
- Founded: 2012
- Valuation: $1.1 billion
- Key Investors: Sequoia Capital, Rakuten (Failory).
4. Matrixport
Service and Technology: Matrixport is a digital assets financial services platform that offers products for crypto trading, derivatives trading, crypto exchange, loans, and cold-storage custodian services for digital currencies.
It also allows merchants to accept payments in crypto assets through various solutions.
Unique Selling Points and Competitive Edge:
- Comprehensive Crypto Services: Provides a wide range of financial services related to digital assets.
- Security: Offers cold-storage solutions for secure asset storage.
Market Needs Addressed:
- Crypto Accessibility: Makes it easier for users to trade and manage digital assets.
- Merchant Solutions: Enables businesses to accept crypto payments securely.
Funding and Valuation:
- Founded: 2019
- Valuation: $1 billion
- Key Investors: DST Global, Lightspeed Venture Partners (Tracxn).
5. NIUM
Service and Technology: NIUM is a global payments platform that enables businesses to send, spend, and receive funds worldwide.
It provides remittance-as-a-service technology, offering APIs for reporting, tracking, bookkeeping, reconciliation, invoicing, and compliance solutions.
Unique Selling Points and Competitive Edge:
- Global Reach: Supports cross-border transactions in multiple currencies.
- API Integration: Facilitates seamless integration with existing business systems.
Market Needs Addressed:
- Global Payments: Simplifies international transactions for businesses.
- Efficiency: Streamlines financial operations with comprehensive tools.
Funding and Valuation:
- Founded: 2014
- Valuation: $1 billion
- Key Investors: GIC, Temasek (Tracxn).
6. PatSnap
Service and Technology: PatSnap provides innovation intelligence and IP analytics solutions.
Their platform uses AI to help companies discover and analyze patents, scientific papers, and innovation trends, supporting R&D and strategic decision-making.
Unique Selling Points and Competitive Edge:
- Comprehensive Data: Access to extensive patent and innovation data.
- AI-Driven Insights: Uses AI to provide actionable intelligence for innovation management.
Market Needs Addressed:
- R&D Efficiency: Helps companies streamline their research and development processes.
- Strategic Planning: Provides data-driven insights for better strategic decisions.
Funding and Valuation:
- Founded: 2007
- Valuation: $1 billion
- Key Investors: SoftBank Vision Fund, Sequoia Capital (Failory).
7. ONE Championship
Service and Technology: ONE Championship is a global sports media platform that focuses on martial arts events.
It produces and broadcasts live events across multiple platforms, including TV and digital streaming services, reaching millions of viewers worldwide.
Unique Selling Points and Competitive Edge:
- Global Reach: Broadcasts events in over 150 countries.
- High-Quality Production: Known for its high production values and engaging content.
Market Needs Addressed:
- Entertainment: Provides top-tier sports entertainment to a global audience.
- Brand Engagement: Creates strong fan engagement through compelling content.
Funding and Valuation:
- Founded: 2011
- Valuation: $1 billion
- Key Investors: Sequoia Capital, Temasek (Failory).
8. Bolttech
Service and Technology: Bolttech offers an insurance-as-a-service platform that connects insurers, distribution partners, and customers.
It provides a range of insurance products, including mobile phone insurance, travel insurance, and on-demand services like device repair and valuation.
Unique Selling Points and Competitive Edge:
- Insurance as a Service: Transforms the way insurance is bought and sold.
- Comprehensive Coverage: Offers a wide range of insurance products and services.
Market Needs Addressed:
- Convenience: Simplifies the insurance purchase and claims process.
- Coverage Options: Provides tailored insurance solutions for various needs.
Funding and Valuation:
- Founded: 2020
- Valuation: $1.6 billion
- Key Investors: EDBI, B. Riley Financial (Tracxn).
9. Emeritus
Service and Technology: Emeritus provides online professional education courses in collaboration with top universities.
Their platform offers courses in various fields, including coding, marketing, product design, finance, and machine learning. Emeritus uses interactive technology to deliver high-quality education accessible globally.
Unique Selling Points and Competitive Edge:
- University Collaborations: Partners with prestigious universities to offer certified courses.
- Diverse Course Offerings: Provides a wide range of professional education options.
Market Needs Addressed:
- Access to Education: Makes high-quality education accessible to a global audience.
- Career Advancement: Helps professionals upgrade their skills and advance their careers.
Funding and Valuation:
- Founded: 2015
- Valuation: $3.2 billion
- Key Investors: Sequoia Capital, SoftBank Vision Fund (Tracxn).
10. Zilingo
Service and Technology: Zilingo is an online B2B marketplace platform that offers multi-category fashion products.
The platform supports various products including loungewear, kidswear, shirts, winter wear, sleepwear, and bed linen. Zilingo uses technology to streamline the supply chain and improve efficiency for fashion businesses.
Unique Selling Points and Competitive Edge:
- B2B Marketplace: Connects fashion suppliers with retailers globally.
- Supply Chain Efficiency: Uses technology to enhance supply chain management.
Market Needs Addressed:
- Market Access: Provides fashion businesses with access to global markets.
- Operational Efficiency: Improves supply chain efficiency for fashion businesses.
Funding and Valuation:
- Founded: 2015
- Valuation: $1 billion
- Key Investors: Temasek, EDBI (Tracxn).
These Singaporean unicorn startups are driving innovation across various sectors, addressing significant market needs, and contributing to the country’s reputation as a leading hub for technology and entrepreneurship.
