Telstra-backed accelerator muru-D Singapore has unveiled the 10 startups of its third cohort. They will undergo the six-month programme at muru-D’s Amoy Street offices, and will each receiver S$75,000 (US$55,000) in investments, as well as mentorship in go-to market strategies, training and international networking opportunities.
Additionally, this cohort will be the first to benefit from muru-D Singapore’s new “startup-friendly” financing system.
The new financing instrument is called Simple Agreement for Future Equity (SAFE). It provides an agreement that provides investment to the company on a convertible note which converts to equity when the startup does its first post-program qualifying raise at the valuation of that raise.
This process allows companies “to raise equity quickly and easily without pricing and consummating a complete equity round,” according to an article by Geektime.
200 applicants from 15 countries applied to enter the programme; 22 of these were selected for a two-day bootcamp, after which the final companies were picked. The 10 startups tackled a plethora of verticals, from real estate, to advertising, logistics, social media, and others.
“Selecting the top 10 companies for this year’s cohort was a difficult process, which speaks to the overall quality of startup talent across the region. We are excited at the prospect of working with these diverse teams by providing them with the tools required to solve the world’s most challenging problems,” said Paul Meyers, Head of muru-D Singapore, in an official press statement.
And here are the 10 startups:
This Singapore-based startup wants to make travelling with your pet hassle-free. It is developing a smart pet travel pod so pets can accompany you on your flights in a safer and more comfortable fashion.
Vietnamese startup Doong is a home rental network that tackles housing crisis faced by millennials across big cities in Vietnam. They have created a simple and quick way for housing search, with a smart roommate search algorithm, verified listings, in-app messaging, and soon the ability to pay rent, all within one platform.
Singapore-based startup Idem Labs is developing a SaaS platform that helps hotels to manage their banquet sales and event planners to manage their events.
Malaysia-based startup InsightzClub uses software to help businesses purchase relevant market research data much quicker so they can obtain real-time insights into consumer behaviour. It wants to be the first low cost programmatic marketplace for market research data.
This Pakistan-based music platform wants to help musicians find their ideal jamming buddies online.
Singapore-based startup Know has built a workplace productivity management tool that lets companies track employee attendance, create and assign work tasks, disseminate announcements, onboard new hires, create surveys, and collect and generate reports easily.
ShopUp is a Bangladesh-based startup that helps small businesses manage their social media presence. On its site, ShopUp says it can help these merchants grow their digital marketing campaigns, liaise with logistic partners to conduct deliveries, and even help merchants apply for bank loans.
Singapore-based startup SUP! has rolled out a platform that lets people find like-minded activity partners nearby by leveraging on their social media information.
Vokabee is a Singapore-based edtech startup that wants to help non-native English-speaking users learn difficult English words. They can upload a text online and the platform will identify and translate the challenging words for them.
Malaysia-based startup VR Lab is developing VR software for the real estate industry. It wants to help property buyers view and interact with their prospective houses in virtual reality.
Image Credit: muru-D Singapore