Start-ups raked in $5.5b in funding despite Covid-19

The New Paper

Start-ups in Singapore raked in $5.5 billion in funding last year, despite the challenges of Covid-19.

This figure, shared by Second Minister for Trade and Industry Tan See Leng yesterday, is lower than the funding garnered in recent years.

But it demonstrates the resilience of Singapore’s investment landscape and gives the Republic confidence it can do well despite the pandemic, he said, noting as well that the amount is almost three times what was received five years ago.

In comparison, Singapore start-ups drew $8.5 billion in 2019, and $14.3 billion in 2018.

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