Daily Briefing: Mesh Bio raises $2.43m in seed round; Ex-Nordic Eye chairman launches SG-based fund

And Freehold Devonshire apartment on sale for $66m.

From e27:

Mesh Bio, a Singaporean health-tech startup, has raised $2.43 (US$1.8m) in a seed funding round, led by deep-tech investor Elev8.vc and SEEDS capital.

Wealth management firm Citrine Capital as well as Singaporean VC firm Tael Partners also joined the round.

Mesh Bio intends to use the capital to accelerate the rollout of its solution, DARA, for healthcare providers in Southeast Asia and Hong Kong. The funds will also support the startup’s clinical partnerships and collaborations.

The two-year-old company was started by Andrew Wu (former COO of Clearbridge Biomedics), Arsen Batagov (former bioinformatics scientist), and Melvin Heng (physician and hospital administrator) when they noticed the rise in chronic diseases, making patient management increasingly complex and challenging.

Read more here.

From e27:

Niklas Holck, former chairman of Nordic Eye Venture Capital, has launched his own boutique VC firm based in Singapore.

Tradeworks.vc is an investment syndicate that aims to build an ecosystem of digital trade enablers, with the purpose of driving trade and economic development through innovation in logistics primarily, crossing into e-commerce.

As per a press statement, Tradeworks.vc has raised $2.02m (US$1.5m) at launch, with Guernsey-based OracleVC being the anchor investor.

Tradeworks.vc has a global focus, targeting early-growth startups and scaleups at the seed to Series A funding stages and is looking to invest $134,700 (US$100,000) to $2.69m (US$2m) per deal.

It will announce its maiden deals in two logistics technology scaleups, based in Singapore and Chennai (India), shortly.

Read more here. 

From PropertyGuru:

Devonshire Apartment, an eight-storey serviced apartment tower at 17 Devonshire Road in District 9, has been launched for sale via expression of interest with a guide price of $66m, revealed exclusive marketing agent CBRE.

This works out to $2,356 per sq ft per plot ratio (psf ppr) based on the maximum allowable gross floor area of 31,688 sq ft, excluding the 7% bonus gross floor area for balconies.

Currently fully leased to a single operator, the 12-unit serviced apartment has a total gross floor area of about 23,233 sq ft. It occupies an 11,317 sq ft freehold site that is zoned for “Residential” use under the 2019 Master Plan with a plot ratio of 2.8 and a height limit of up to 36 storeys.

CBRE noted that the development charge payable to maximise the plot ratio is estimated to be $8.65m, subject to the confirmation of authorities on the development baseline as well as the review of DC rates every March and September.

Read more here.