ECONOMY | Staff Reporter, Singapore

Daily Briefing: Johor government to establish investment firm in Singapore; Travecta Therapeutics bags $21.32m in series A funding

And FoodRazor snags $1.28m seed funding.

From Channel News Asia:

The Johor state government will establish an investment company in Singapore to improve trade links, according to Chief Minister Hasni Mohammad.

Hasni said the state-owned company Johor Investment Company (JICO), will be setting up an office in Singapore which will be used to improve trade relations and enhance the potential of Johor in attracting investment.

He also highlighted that the state government will review the previous Singapore-Johor-Indonesia (Sijori) growth triangle cooperation. The cooperation aims to link logistics, transportation and financial strengths of Singapore with the natural and labour resources of both Johor and the Riau province.

Read more here

From Deal Street Asia:

Biopharmaceutical company Travecta Therapeutics has secured $21.32m (US$15m) in its series A funding round led by venture capital fund TKS1, according to an announcement.

The proceeds from the round will be used to support Travecta’s growth and advance the development of TVT-004. It will also be used to support the progression of its earlier stage research programmes in neuro-oncology and neuro-inflammation.

Travecta is also developing a broad portfolio of product candidates engineered to cross the blood-brain-barrier. The company’s proprietary mVECTA platform allows it to screen and develop product candidates targeting novel and untapped neurological pathways.

Read more here

From e27:

Invoice management platform FoodRazor​ has raised a $1.28m (US$900,000) seed financing round led by venture capital firm Cocoon Capital, according to an announcement. Found.Ventures and angel investors also participated in the round.

The company will use the fund to support FoodRazor’s expansion into new markets and to support other invoice-heavy industries such as accounting, manufacturing, and logistics.

FoodRazor offers an online platform that seeks to address the pain point of F&B operators by saving time on data entry tasks. It also digitises the entire invoice management process as well as provides restaurants with actionable insights, price analytics, and streamlining of the accounting workflow.

Read more "> here.

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