Singapore Had 20 Unicorns by 2022: Growth Trends

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Cindy Mutia Annur 09/03/2023 17:45 WIB

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According to a report by startup data company Tracxn, 20 unicorns were created in Singapore between 2014 and 2022.

Number of Unicorn Startups Founded in Singapore (2014-2022)

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Number of Unicorn Startups Founded in Singapore (2014-2022)

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Singapore had the most unicorns in Southeast Asia until 2022. A unicorn is a startup with a valuation exceeding USD 1 billion.

According to startup data firm Tracxn, 20 unicorns were founded in Singapore between 2014 and 2022.

Two unicorns were added in 2022: Insider, a marketing services provider, and Coda Payments, a fintech startup. Insider's last funding round was Series C, while Coda Payments' was Series D.

Previously, Singapore saw the addition of 9 new unicorns in 2021, the highest number in six years.

From 2014 to 2019, Singapore only recorded approximately two to three new unicorns annually. Lazada was Singapore's first unicorn in 2014, followed by Grab in the same year.

The following is a list of Singaporean unicorns based on the time they achieved unicorn status, according to Tracxn:

1. Lazada: November 2014
2. Grab: December 2014
3. TauRx: March 2018
4. ONE Championship: October 2018
5. Zilingo: February 2019
6. Trax: July 2019
7. Acronis: September 2019
8. HyalRoute: May 2020
9. PropertyGuru: September 2020
10. PatSnap: March 2021
11. CARRO: June 2021
12. Bolttech: July 2021
13. NIUM: July 2021
14. Matrixport: August 2021
15. EMERITUS: August 2021
16. Carousell: September 2021
17. Ninja Van: September 2021
18. Multichain: December 2021
19. Insider: March 2022
20. Coda Payments: April 2022

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."