To spur innovation in Singapore’s technology ecosystem, Elev8.vc closed $30 M deep tech fund
The latest $30 million fund from Singapore-based Elev8.vc, a venture capital firm that specializes in early-stage deep tech investments, has closed successfully. Elev8.vc is committed to fostering the next wave of technological innovation. With the goal of making Singapore a global center for ground-breaking technological advancements, this fund will support deep tech startups in industries like robotics, advanced manufacturing, medical technology, and artificial intelligence.
The newest fund from Elev8.vc has already made investments in two stealth-mode companies and a wide range of cutting-edge businesses, such as Aevice, Auristone, CoNEX, Equatorial Space, Gush, KABAM Robotics, Moon Technologies, N&E Innovations, and Polybee.
From space exploration to sustainable materials and artificial intelligence, these startups are pushing the limits of technology, showcasing the fund’s dedication to funding innovative, high-impact projects.
“Deep tech founders face unique challenges due to the complex sales and development processes and the significant technical expertise required,” said Aditya Mathur, Founder and MD of Elev8.vc in a statement on Monday.
“With this fund, we aim to support and champion founders who are transforming scientific discoveries into commercially viable solutions that address global challenges. The support from like-minded institutions, corporate partners, and visionary founders gives us added strength to build and scale these breakthrough ventures.”
It’s anticipated that 20 to 30 high-potential deep tech startups will be backed by Elev8.vc’s new fund, which will give them financial and strategic resources to help them grow.
The company will connect portfolio companies with international markets, talent, and more investment opportunities by utilizing its network in Asia, Europe, and North America. With this strategic backing, Singapore’s reputation as a flourishing hub for deep tech innovation will only grow.
Elev8.vc has a proven track record of finding and supporting ground-breaking deep tech projects in important industries, with an emphasis on founders dedicated to expanding human knowledge and improving society.
In line with its overarching goal, the company is working closely with Singaporean government organizations, corporate partners, and research institutes to build a strong ecosystem that fosters the growth of deep tech startups.
Through the SG Startup Equity (SSGE) program, the Singapore Economic Development Board’s (EDB) corporate investment division, EDBI, has also joined this initiative as a strategic partner. Through accelerating private sector investment into promising local deep tech startups for their global expansion from Singapore, this partnership seeks to create a dynamic and encouraging environment.
Strong support for Elev8.vc’s $30 million fund has come from family offices, corporate partners in related industries, institutional investors, and successful founders who are committed to growing the deep tech ecosystem.
Prominent tech visionaries have endorsed Elev8.vc’s mission, including Steve Chen, the founder of YouTube, and Abhishek Gupta, the founder of Circles.Life in Singapore and AppWorks. Their support of this Fund demonstrates the enormous potential of deep tech innovation to solve difficult global issues and promote sustained economic growth.
Investors’ increasing faith in Singapore’s deep tech sector’s potential is reflected in the recently closed fund. Elev8.vc can help Singapore become a global leader in innovation by supporting innovative technologies and giving visionary founders the resources they need to be successful.
