Daily Briefing: Medtech firm eko.ai raises $5.4m in seed funding; Geylang Road development on en bloc sale for $5.24m

And Accelerating Asia invests $1m in 10 startups.

From e27:

Medtech startup eko.ai has raised $5.41m (US$4m) in its first funding round, co-led by early-stage VC firms Sequoia India and EDBI.

The funds will be used to grow the company’s development team and accelerate commercial operations in the US and Europe as stated in the press release statement.

Partech Ventures, SGInnovate and Startup Health were also some of the investors who participated in this round.

Eko.ai is a healthcare company which integrates Machine Learning into its software to predict and treat early-stage heart diseases. The platform provides tools to improve cardiovascular research and lowers the speed of clinical trials bringing it down to seconds, using ultrasound waves.

Read more here.

From PropertyGuru:

Green Court, a freehold mixed-use development situated along Geylang Road, is up for en bloc sale for a reserved price of at least $28m. This includes an additional development charge of about $5.24m to maximise the Gross Floor Area (GFA).

The price works out to a land rate of around $1,178 psf ppr, revealed marketing agent Knight Frank Singapore.

The three-storey commercial and residential development comprises three ground floor shops as well as six two-storey walk-up apartments on the second level, with a total site area of 894.5 sqm (9,628 sqft).

Read more here.

From DealStreetAsia:

Singapore-based startup accelerator and early-stage venture capital fund Accelerating Asia has officially unveiled its second cohort with ten startups, according to an announcement.

Accelerating Asia has invested $1m in the programme, translating to $100,000 in each company. The ten startups come from Australia, Bangladesh, Malaysia, Myanmar, Indonesia and Singapore.

They have already raised over $2m in funding ahead of the programme, employ close to 200 people and have an average monthly recurring revenue of over S$40,000.

The announcement of the second cohort brings the number of Accelerating Asia’s deals to 20 in the last six months, worth a total of $2m.

Read more here.