Singapore’s startup ecosystem is renowned for its innovative approach and strong governmental support. As we look into 2024, several startups are poised to make significant impacts, particularly in the e-commerce and AI sectors. Here’s a look at five such promising companies.
Ultiverse
Ultiverse, founded in 2021, leverages artificial intelligence to enhance video game development. By integrating AI, it aims to optimize game performance and reduce bugs, contributing to the broader adoption of Web 3.0 games. In February 2024, Ultiverse raised $4 million to expand its operations.
Moonshot AI
Founded in 2023, Moonshot AI offers an AI-driven platform for e-commerce optimization. It helps online stores maximize profits by making data-driven adjustments. Backed by a $1 billion investment from Alibaba and Hongshan in February 2024, Moonshot AI has quickly achieved unicorn status with a valuation of over $2.5 billion.
AMP
AMP, an e-commerce optimization startup founded in 2022, provides tools to increase conversion rates and traffic. The company secured $18.5 million in a Series A funding round in September 2023, enabling it to strengthen its market presence and expand into new areas.
Bluesheets
Bluesheets, founded in 2020, simplifies financial management for businesses by integrating and automating bookkeeping and reporting across multiple platforms. It raised $6.5 million in January 2024 to enhance its AI infrastructure and drive digital finance adoption.
Etaily
Etaily, established in 2020, assists retail brands in building comprehensive e-commerce solutions. Its recent $17.8 million funding round in November 2023 aims to support expansion into new Asian markets, including the Philippines, Malaysia, and Indonesia.
These startups exemplify Singapore’s dynamic approach to fostering innovation in e-commerce and AI. With significant funding and strategic growth plans, they are set to make substantial strides in 2024, further cementing Singapore’s position as a global startup hub.
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