Entrepreneur

Startups Under S'pore Gov't-Supported Blockchain Accelerator Raised S$16.8M Funding To Date

Today, Tribe Accelerator launched its first-ever Demo Day at Facebook’s APAC headquarters, which saw participating companies showcasing market-ready solutions that they have developed.

As a quick background, Tribe Accelerator is Singapore’s first government-supported blockchain accelerator.

Since launch, it has also facilitated the fundraising of S$16.8 million for its participating companies.

It has a strong corporate partnership network as well, with partners including names like BMW Asia, ConsenSys, Intel, Nielsen, PwC Singapore, and R3.

Among the first cohort of 10 participating companies is design studio Mighty Jaxx, which just announced a S$2.15 million pre-series A funding yesterday.

The studio is incorporating GovTech OpenCert capabilities with embedded chips in their limited edition Mighty Jaxx collectibles, with production details recorded on blockchain.

Another project is online platform Quotz by car marketplace sgCarMart.

By introducing blockchain to Quotz, its online car auction platform, buyers and sellers will be able to check on the service history of vehicles in a digital maintenance book.

WhatsHalal, a Halal supply-chain solution company, will also allow consumers to use their mobile phones to check the validity of Halal-certified products.

Smart-asset company Digix will also be showcasing the business-use case for authenticating and securing investment-grade gold bullion through blockchain.

Tribe Accelerator is also launching Tribe Code, a blockchain programming academy, in partnership with two programming schools in Singapore and Vietnam.

Tribe Code will partner with top-tier blockchain protocols to train new developers.

“Our participants demonstrate that they have real market-ready solutions, and the market is responding with the quality and number of partnerships and investments channeled,” said Mr. Ng Yi Ming, Managing Partner of Tribe Accelerator.

“People are genuinely eager for more everyday uses of blockchain and this is reflected in the uptake of regional investments, and corporate partners that are coming onboard in the months ahead.”

Besides Singapore, similar demo days will also be held in Shanghai, Seoul, and San Francisco.

 

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