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MARKETS & INVESTING, RESIDENTIAL PROPERTY | Staff Reporter, Singapore
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Daily Briefing: Dyson founder snaps up Singapore's priciest apartment for $73.8m; Logistics startup Ezyhaul bags $21.8m in series B funding

And fintech Asenso Tech secures $1.6m investment.

From Reuters:

British billionaire and inventor of the bagless vacuum cleaner James Dyson has bought the most expensive apartment in Singapore, where his company plans to build an electric car. The three-storey “super penthouse” at the top of Singapore’s tallest building sold for $73.8m (US$54.2m), according to media reports.

Accessed by its own lift, the downtown apartment once valued at $136m ($100m) has five bedrooms, a 600-bottle wine cellar, pool, jacuzzi, and a private garden with city views that include the Marina Bay Sands hotel, marketing documents show.

Dyson, 72 and a Brexit supporter, announced plans in January to move his company’s head office from Britain to Singapore to be closer to its fastest-growing markets.

His firm - whose products include bladeless fans, air purifiers and hair dryers - plans to build its first electric car in the city-state.

Read more here.

From DealStreetAsia:

Singapore-headquartered freight and logistics startup Ezyhaul announced on Wednesday that it has closed a $21.8m (US$16m) Series B round to fund its expansion into Indonesia and the Philippines.

The fresh capital will also be used to further drive Ezyhaul’s technological innovation to offer a complete “plug and play” model for its clients. Ezyhaul’s co-founder and CEO Raymond Gillon told DealStreetAsia that he expects to start operating in both Indonesia and the Philippines by end of this year.

Founded in Singapore by Gillon, Mudasar Mohamed, and Nicky Lum, Ezyhaul first launched its services in Malaysia in 2016 where its core technology and product development teams are based. The startup has been growing 900% in revenue since the close of its US$5m Series A round in 2018.

Read more here.

From DealStreetAsia:

Singapore-based fintech company Asenso Tech has secured an investment of $1.6m (US$1.2m) from local enterprise venture accelerator Talino Venture Labs and the Philippine microfinance institution CARD MRI.

Formed as a joint venture between Talino and CARD MRI, Asenso develops a platform that provides micro, small, and medium entrepreneurs (MSMEs) with access to capital, supply chain, marketplace, and loyalty and rewards systems.

The company aims to help connect these small businesses, particularly community-based ‘mom and pop’ stores, with consumer packaged goods manufacturers.

With CARD MRI as one of its founding companies, Asenso is able to leverage the Philippine firm’s network of financial institutions to offer its products which incorporate an AI-powered credit scoring system, a data-driven online marketplace, chatbot-assisted loan applications, and e-wallets.

Read more here.

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