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Singapore government-backed accelerator raises one other $16M for blockchain startups




    Singapore government-backed accelerator raises one other $16M for blockchain startups

    Tribe Accelerator, backed by authorities company Enterprise Singapore, has raised one other 21.5 million Singapore {dollars} (~$16 million) for collaborating blockchain startups.

    The funds are for Tribe’s second batch of 9 startups from world wide, who’re constructing options to unravel “real-world problems” with blockchain know-how, in accordance with an announcement shared with The Block on Monday.

    The 9 startups are Affle, AID:Tech, Aqilliz, Bluzelle, Dimuto, Eximchain, Pilab, Torus and WhiteCoat, throughout social welfare applications, digital retail, knowledge privateness, provide chain, cybersecurity, and healthcare companies.

    AID:Tech, for example, presents an interoperable decentralized digital ID protocol, whereas WhiteCoat presents healthcare companies by way of its blockchain-enabled app – It goals to boost the verification of affected person identification and forestall publicity to medical data within the occasion of a cybersecurity breach, per the announcement. 

    “One of our goals is to drive the adoption of blockchain at a national level as countries like Singapore pursue their Smart Nation ambition,” mentioned Ng Yi Ming, managing accomplice of Tribe Accelerator, including: “Mighty Jaxx, one of our participating companies from Batch I is already supporting OpenCerts, a government initiative in Singapore, that enables the issue and validation of tamper-resistant digital certificates.”

    For its first batch of startups, Tribe raised 16.eight million Singapore {dollars} (~$12.30 million) in April. Today’s spherical brings the full to 38.three million Singapore {dollars} (~$28 million). Launched in Dec. 2018, Tribe not too long ago introduced in main companies as its company companions, together with Citi Bank, BMW Group Asia, Intel, and Nielsen, amongst others.

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