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It’s the time of the year, where we look back and reflect at our lives and activities over the past 12 months. It’s also a time where we pat ourselves on the back for surviving another pandemic year and celebrate the wins that happened in this period.
2021 is also a year many Singapore startups had a job well done too, having received fresh funds and clinched the highly coveted “unicorn” ranking. A unicorn is a term used in the venture capital world to describe a privately held startup with a valuation of over US$1 billion. They are called unicorns because they are rare and often have seen skyrocketing success or market traction, hence achieving an almost mythical-like status.
Factors that drove the high valuations are due to robust funding from private equity markets in the Southeast Asia region over the past few years, supported by a rising middle class and an increase in smartphone and data usage.
Covid-19 has also provided a boost to several sectors of the economy such as FinTech and e-commerce due to an increase in tech demand and digital adoption.
We take a look at a list of nine startups that reached unicorn status this year.
More at https://vulcanpost.com/771825/new-unicorn-singapore-tech-2021/
