Latvian financial products marketplace Jeff App has raised $2 million in a seed round while Duke-NUS Medical School has launched LIVE Ventures, a S$20 million incubation programme to accelerate the commercialisation of academic research.
Jeff App raises $2m from Presto Ventures
Jeff App, a Latvian financial marketplace operator with operations in Vietnam, has announced raising $2 million in a seed funding round anchored by Presto Ventures, a venture capital firm based in the Czech Republic.
The round was also backed by existing investors, including data and AI fund J12, angel investors, and industry veterans, per the announcement. Jeff App said it will use the fresh funds to expand into India and other emerging markets in Asia.
Jeff App was founded in 2019 by Latvian entrepreneurs. It launched in Vietnam in 2020 and has expanded into other markets, including the Philippines, Mexico, and Indonesia.
The startup runs a marketplace for financial inclusion in emerging markets that allows the traditionally underserved population to access credit solutions from several financial services providers at a competitive price.
The platform claims to have passed a $10 million per annum revenue benchmark and has catered to more than 6 million people through its marketplace.
In 2021, Jeff App had raised $1.5 million to expand into Southeast Asia. The round was anchored by J12 Ventures and backed by India-based iSeed Ventures.
SG’s Duke-NUS Medical School launches LIVE Ventures
Duke-NUS Medical School has launched LIVE Ventures, a S$20 million incubation programme to accelerate the commercialisation of innovative academic research.
Focused on translating scientific breakthroughs into clinical applications, LIVE Ventures will provide Duke-NUS scientists conducting high-impact research with essential commercialisation expertise and resources. It will also partner with both public and private sector entities to co-fund these projects.
“As an incubator, LIVE Ventures aims to turn scientific discovery into viable commercial opportunities with the potential to create start-ups by providing industry expertise, mentorship and funding support. Besides supporting our scientists in translating research into new clinical solutions, LIVE Ventures will foster a culture of entrepreneurship within the academic community, ultimately benefiting patients globally,” said Dr Rainny Xie, head of LIVE Ventures at Duke-NUS.
LIVE Ventures, with its first funding tranche of S$10 million, will support up to 20 Duke-NUS research projects over the next five years.
Duke-NUS is Singapore’s flagship graduate entry medical school, established in 2005 with a strategic, government-led partnership between Duke University School of Medicine and the National University of Singapore (NUS).