In today’s briefing:
- Sabana REIT (SSREIT SP): Volare’s Partial Offer Is Open
- SG Mobility Startup Offers Zero Commission Fees to Challenge Grab
- VFlowTech Nets US$10M to Take Its Vanadium-Based Redox Flow Battery to Japan, US, Turkey
- Exclusive: SG Kidtech Firm Bags $2.2m Seed Round
- PixCap Scores US$2.8M to Allow Users to Find, Edit, Export 3D Content in Minutes
Sabana REIT (SSREIT SP): Volare’s Partial Offer Is Open
- Sabana Industrial REIT (SSREIT SP)’s partial offer from Volare to acquire a maximum of 109.6 million units at S$0.4504 per unit (S$0.465 in cash – S$0.0146 2H2022 distribution) is open.
- The offer is conditional on 10% minimum acceptances. Minorities appear willing sellers as both Volare and Quarz increased their unitholding over the last 12 months.
- Quarz is supportive but its intentions are unclear. Based on a proration of 16.70% and at the last close of S$0.420 per unit, the breakeven price is S$0.415 per unit.
SG Mobility Startup Offers Zero Commission Fees to Challenge Grab
- Singapore-based Geolah – a mobility startup – wants to remove commission fees altogether.
Instead of charging drivers commission fees, Singh said his startup will earn revenue through rebates from digital payments, insurance, and automotive firms.
Revenue will also come from ads, with the firm saying that it has onboarded notable names like Shell and Klook.
VFlowTech Nets US$10M to Take Its Vanadium-Based Redox Flow Battery to Japan, US, Turkey
- VFlowTech, a vanadium-based redox flow (VRF) battery company in Singapore, has announced a US$10 million Series A funding round
VFlowTech will use the funds to set up a 200MWh production line capacity and scale up the manufacturing of its 250 kWh modular vanadium-based long-duration energy storage solutions.
A portion of the new capital will be used to expand into Turkey, the US, Japan and India.
Exclusive: SG Kidtech Firm Bags $2.2m Seed Round
The company has expanded to offer watch phones, headphones, drones, and even a social media network for kids.
Their mission is to help kids aged between three and 12 to “stay connected socially without the usual ills of social media.”
- The startup’s revenue mainly comes from sales of its devices, ranging from a US$20 digital sketchpad to a US$199 watch phone.
PixCap Scores US$2.8M to Allow Users to Find, Edit, Export 3D Content in Minutes
Singapore-based PixCap, a web-based 3D design platform, has raised US$2.8 million in seed funding led by Sequoia Surge.
Founded in 2020 by Cyril Nie (CTO) and Looi, PixCap allows users with no 3D experience to find, edit and export 3D content, including images for graphic designs and animations for landing pages and social media.
Designers, developers and consumers can use PixCap to create 3D content for graphic designs, games and AR/VR.
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