15 Top Startups in Singapore 2024

Marina Bay skyline.

Singapore’s startup ecosystem has been flourishing with innovative ideas, vibrant startup companies, and eager venture capital firms that are making a difference in a multitude of industries. As one of Asia’s leading business hubs, Singapore captures the essence of entrepreneurship and has been succeeding in cultivating fertile ground where startups can thrive. 

So whether you’re an aspiring startup founder or an established entrepreneur exploring new avenues, this list aims to provide a snapshot of the Singapore startups making waves from their seed funding round to Series E. 

Best Singapore Startups

Every year, new startups pull to the forefront of their industry through exciting innovation and industry-disrupting business models. We’ve rounded up the best startups in Singapore of 2024 that startup lovers, investors, and aspiring entrepreneurs should follow. 

To give you an overview of the playing field and potential opportunities, we’ve analyzed and researched the Singaporean market, focusing on the most promising startups. As we walk through this list, you’ll find startups in niches ranging from technology, healthcare, ecommerce, and more. 

Disclaimer: With so many exciting startups launching and growing worldwide, we aren’t able to cover them all. Furthermore, the startups that are listed below are not officially ranked and are listed in no particular order.

1. Volopay

  • Industry: Fintech, Artificial Intelligence, Software
  • Founders: Rajesh Raikwar, Rajith Shaji
  • Founded In: 2019
  • Funding: Series A, $31.3 Million
  • Investors Include: Access Ventures, Accial Capital

Volopay is an AI tech startup that provides businesses with modern business bank accounts. The award-winning platform is equipped with features for automated invoice processing, expense management, and accounting integrations.

2. PatSnap

  • Industry: Business Intelligence, Analytics
  • Founders: Guan Dian, Jeffrey Tiong, Ray Chohan
  • Founded In: 2007
  • Funding: Series E, $351.6 Million
  • Investors Include: Sequoia Capital China, SoftBank Vision Fund, Tencent

PatSnap is a research and development intelligence platform built with AI to accelerate product development. Used by major companies such as PayPal, Disney, and Bose, PatSnap is a powerful tool for both R&D and IP teams.

PatSnap’s tools don’t end at product conceptualization, however. The platform can be used all the way to commercialization while resting easy knowing your intellectual property (IP) is safe and secure. 

3. TurtleTree

  • Industry: Biotechnology, Food and Beverage, Food Processing
  • Founders: Fengru Lin, Max Rye
  • Founded In: 2019
  • Funding: Series A, $39.4 Million
  • Investors Include: VERSO Capital, KBW Ventures, Chaos Ventures

TurtleTree is a biotech firm situated in Singapore with an interest in sustainable dairy and a focus on mitigating the negatives of cattle farming. The company is set to unveil its LF+ product in 2023, which will pioneer sustainably produced lactoferrin using precision fermentation technology. This protein (derived from milk) holds significant potential in boosting the nutritional value of both plant-based and animal-based diets. 

What sets TurtleTree apart is its commitment to animal protection and developing a fermentation process that allows animals to live freely without exploitation. Looking towards the future, TurtleTree is working to develop cell-based milk and further deepen its footprint as an innovator in the space.

4. Qosmosys

  • Industry: Aerospace, Air Transportation
  • Founders: Francois Dubrulle
  • Founded In: 2020
  • Funding: Seed, $100 Million
  • Investors Include: Orient G

Established in 2020, Qosmosys is an ambitious private company headquartered in Singapore with affiliates in Houston and Toulouse; they’re actively working to advance space exploration for humanity’s common good. Propelling this mission is its flagship spacecraft called ZeusX, a remarkable milestone in Qosmosys’ journey to develop lunar infrastructure leveraging innovative robotic extensions. The firm envisions commercial utilization of lunar resources and perceives space exploration as a global responsibility that unites nations.

Central to the business model of Qosmosys is lunar mining with a key focus on resources like Helium-3 using the ZeusX spacecraft and robotic solutions. The design approach of ZeusX mitigates risk and enhances safety and reliability, thereby facilitating Qosmosys’ positioning as a leader in lunar lander technology.

5. Neso Brands

  • Industry: Ecommerce, Consumer Eyewear
  • Founders: Bjorn Bergstrom, Peyush Bansal
  • Founded In: 2022
  • Funding: Undisclosed, $100 Million
  • Investors Include: SoftBank, Alpha Wave Global, Temasek Holdings

Singapore-based startup Neso Brands is a trailblazer in eyewear technology, harnessing cutting-edge technologies such as AI, sensors, augmented reality, and eye tracking to shape the future of eyewear brands. Leveraging the might of the Lenskart Group’s vast ecosystem and investor network, Neso Brands is committed to creating an innovative portfolio of eyewear brands.

New technologies form the bedrock of Neso Brands’ strategy as it looks to redefine the eyewear industry. These advancements are being incorporated into its products as it endeavors to build the next generation of eyewear brands. The overarching vision is to use these new technologies to transform this industry significantly.

6. Iskra

  • Industry: Blockchain, Gaming, Virtual Reality, Web3
  • Founders: Eugene Lee
  • Founded In: 2021
  • Funding: Venture, $74.5 Million
  • Investors Include: Laboon, Krust Universe, Kakao Ventures

Iskra is a Web3 game community platform in Singapore that rewards players and developers based on their community involvement through a unique blockchain-based system. The platform aspires to break new ground in Web3 gaming and spearhead a fresh wave of blockchain entertainment. With a shared stake in its success, Iskra brings individuals and organizations together to celebrate each other’s victories and achievements.

Seamless blockchain integration is at the core of Iskra’s platform design, ensuring all gamers, regardless of their gaming preferences, enjoy a smooth experience. The platform empowers developers to leverage blockchain technologies and rewards players for fostering community growth. It also offers features like a daily lucky spin, quest wall, monster collecting game, pioneer NFTs, ISK token, and community/governance functions. Iskra envisions the future of gaming on the blockchain and leads the charge into this new generation.

7. Nuevocor

  • Industry: Biopharma, Biotechnology, Medical, Pharmaceutical
  • Founders: Brian Burke, Colin Stewart, Jianming Jiang, Mark Kay, Yann Chong Tan, Yin Loon Lee
  • Founded In: 2020
  • Funding: Venture, $35.6 Million
  • Investors Include: EVX Ventures, EDBI, Seeds Capital

Stemming from a commitment to revolutionize genetic medicine, Nuevocor is a biotech startup rooted in Singapore and the United States. They’re zeroing in on cardiomyopathies, which are a set of heart conditions currently only resolved through a heart transplant and are paving the way for state-of-the-art treatments. 

Their lead program, NVC-001, is a highly promising genetic medicine to treat lamin dilated cardiomyopathy. Nuevocor’s groundbreaking PrOSIA mechanobiology platform plays a pivotal role in designing these contemporary genetic medicines, targeting the biomechanical root cause of diseases beyond the traditional scope of gene therapies.

8. XinFin

  • Industry: Blockchain, Smart Contracts, Trade
  • Founders: Atul Khekade, Peter Yeo, Ritesh Kakkad
  • Founded In: 2017
  • Funding: Venture, $50 Million
  • Investors Include: LDA Capital

The XDC Network developed by fintech startup XinFin is a decentralized smart contracts platform enabling convenient currency exchange. As a greener blockchain alternative, it has remarkably lower energy consumption than other blockchains.

It’s built on Hyperledger Fabric and follows XDPoS consensus, which is perfect for supporting enterprise applications and services. Hosting an array of developer tools and APIs, it also facilitates the effortless deployment of smart contracts and the construction of decentralized applications (dApps).

9. Blue Planet Environmental Solutions

  • Industry: Environmental Consulting, Environmental Engineering
  • Founders: Bharadwaj Chivukula, Madhujeet Chimni, Manavjeet Chimni, Prashant Singh
  • Founded In: 2017
  • Funding: Private Equity, $41.9 Million
  • Investors Include: Bintang Capital Partners, Sysma Holdings, Nomura

Blue Planet Environmental Solutions is a science-infused startup churning out technology-backed solutions to ramp up sustainability and slash CO2 emissions. They’re in the business of turning plastic waste into energy and combating the environmental toll of rising plastic waste. 

They’ve dived into e-waste recycling as well as extracting minerals and repurposing valuable materials from electronic waste. Their entry into organic waste conversion through anaerobic digestion results in local energy from local waste, another step towards fortifying our planet’s health.

10. Jenfi

  • Industry: Analytics, Business Development, Financial Services, Lending
  • Founders: Jeffrey Liu, Justin Louie
  • Founded In: 2019
  • Funding: Undisclosed, $41.2 Million
  • Investors Include: Headline Asia, Atlas Ventures, Taurus Ventures, 8VC

Jenfi is a startup that’s simplifying growth funding for marketing expenses through its easy-to-navigate loan applications. Making it big in Singapore, Jenfi facilitates aspiring businesses and ambitious individuals by helping them fund their upcoming projects. Their intuitive website provides a step-by-step walkthrough for applying for funding and answers common queries to streamline the process for potential applicants. 

Safety and security are paramount to Jenfi, assuring users of confidentiality and protection of financial information throughout the application and funding cycle. With flexible loan terms tailored to the loan amount and borrower, Jenfi is making growth funding more attainable.

11. Janio Asia

  • Industry: Delivery Service, Freight Service, Logistics
  • Founders: Afiq Mohamed, Junkai Ng, Nathaniel Yim, Syed Ali Ridha Madihid
  • Founded In: 2018
  • Funding: Series B, $30 Million
  • Investors Include: Vertex Growth Fund, Choco Up

Janio Asia stands out amongst the large number of startups in Singapore by offering a range of logistics solutions covering both international and domestic sectors. Their services extend across freight, fulfillment, courier, and delivery, reaching over 100 countries and ensuring end-to-end visibility on shipments. 

Janio Asia’s unique offering also includes a sustainable last-mile solution called PUDO and a white-label tracking platform to boost customer satisfaction and deliver real-time tracking. Considering everything from retail store replenishment to customs clearance, Janio Asia thrives in offering all-encompassing logistics solutions.

12. Electrify

  • Industry: Electrical Distribution, Energy Marketplace
  • Founders: Julius Tan
  • Founded In: 2017
  • Funding: Initial Coin Offering, $30 Million
  • Investors Include: Wendell Davis, Jun Hasegawa

Another noteworthy startup in Singapore is Electrify, an Asian electric marketplace that innovates energy trading through a peer-to-peer (P2P) platform called Synergy. Through Synergy, individual energy producers can trade energy across city grids, making energy options more affordable and providing stable revenues for those generating it. 

In an attempt to deregulate Singapore’s energy market, Electrify also developed the Electrify Marketplace, which provides users the flexibility to choose suitable energy plans on a single platform. The startup has even gone as far as conducting one of Singapore’s largest token sales to fast-track growth and enhance artificial intelligence capabilities.

13. Immunefi

  • Industry: Blockchain, DeFi, Network Security, Web Hosting
  • Founders: Mitchell Amador, Travin Keith
  • Founded In: 2020
  • Funding: Series A, $29.5 Million
  • Investors Include: Framework Ventures, P2P Capital, Lattice Capital

In the realm of cybersecurity, Immunefi has earned recognition as one of Singapore’s leading bug bounty platforms, offering over $85 million in bounties to hackers. The startup works tirelessly to safeguard over $60 billion in user funds from projects within the decentralized finance (DeFi) space. 

Hacker sign-ups are encouraged on Immunefi’s platform to help identify bugs in DeFi projects and save users from potential theft. Besides just offering bounty rewards, Immunefi is also providing expansive learning resources such as blogs and research findings to help make the realm of decentralized finance more secure.

14. Milieu

  • Industry: Analytics, Information Technology
  • Founders: Gerald Ang, Juda Kanaprach
  • Founded In: 2016
  • Funding: Series A, $8.1 Million
  • Investors Include: Genesis Alternative Ventures, OSK Ventures International

Milieu is a survey platform helping businesses conduct market research from millions of respondents and benefit from powerful analytics tools. The platform, called Milieu Canvas, allows businesses to gather valuable knowledge about customers including consumer profiles and survey responses, making developing targeted, meaningful solutions easier for businesses.  

15. Gotrade

  • Industry: Fintech, Financial Services, Trading Platform
  • Founders: David Alan Grant, Norman Wanto, Peter Hoang, Rohit Mulani
  • Founded In: 2019
  • Funding: Series A, $22.7 Million
  • Investors Include: Velocity Capital Fintech Ventures, Social Leverage, Picus Capital

Gotrade is a mobile brokerage owned by Gotrade Securities Inc., another successful startup in Singapore. The mobile platform enables people from over 150 countries to invest in fractions of US shares from merely $1. 

Gotrade is working to make investing fun, straightforward, and accessible to everyone, even allowing for fractional investments in prominent companies like Google, Apple, and Netflix. This startup has successfully managed to attract over 500,000 investors from all corners of the globe who are all working towards growing their wealth safely.

Final Thoughts

Whether they are developing energy storage solutions or a multi-currency mobile wallet, Singapore startups are innovating across a variety of industries. These companies are responsible for economic and employment growth, bringing value to their communities and beyond. While these are the top Singapore startups to watch now, keep checking back for an updated list of startups you should keep your eye on.