NUS to invest $1.1m in 15 deep-tech teams

The National University of Singapore (NUS) is investing $1.1 million (S$1.5 million) in 15 deep-tech teams while Malaysia’s e-hailing platform, EaziCar is seeking to raise RM300,000 ($72,868) via equity crowdfunding.

NUS to invest $1.1m in 15 deep-tech teams

The National University of Singapore (NUS) is investing $1.1 million (S$1.5 million) in 15 deep-tech teams to form startups.

According to an official statement, the teams are from the NUS Graduate Research Innovation Programme (GRIP), which taps on NUS’ graduate students, post-doctoral fellows and research staff to launch deep-tech startups.

The 15 teams currently target solutions in engineering, biomedical, ICT and lifestyle sectors. Each startup will receive up to $73,724 (S$100,000) in funding. The first tranche of $36,862 (S$50,000) to be awarded in the next two months, while remaining will be invested when these start-ups secure external investment or grants of at least $36,862 (S$50,000).

In September, NUS announced it would commit $18.4 million (S$25 million) to co-create up to 250 deep startups over a five-year period.

Malaysia’s e-hailing platform EaziCar to raise funds via ECF route

Malaysian e-hailing service provider EaziCar is looking to raise RM300,000 through equity crowdfunding (ECF) on the Ata Plus platform, according to a release.

Eazi Car Sdn Bhd (EaziCar) is an e-hailing service provider based in Malaysia that offers peer-to-peer e-hailing services.

As of January 2019, EaziCar has already signed 428 drivers on their platform, and numbers are expected to grow rapidly once the mobile app launches.

The company plans to use the funds raised for further marketing initiatives and product development. It also will be expanding their services in Klang Valley and Penang within 2019. Thereafter the services will be available throughout Pahang, Malacca, Selangor, Perak and Kedah.