Home Asian News Tribe raises funds to expand its acceleration program globally

Tribe raises funds to expand its acceleration program globally

Tribe, a blockchain accelerator backed by the Singapore government, has received a strategic investment from Korea Investment Partner (KIP) and Mandiri Investment Management.

Greg Kidd, an early investor in Twitter, Coinbase and Square, in addition to Hong Kong-based Stellar Partners, is also a co-investor.

This marks KIP’s first direct investment in Singapore.

Tribe will use this money to develop accelerator programs and academies to newer markets, including the US, South Korea, Indonesia and Hong Kong.

In addition, Tribe has also announced a partnership with The US drug giant Pfizer to provide startups with support such as technical expertise, resources, and network access. Its other notable partners include HSBC, Infineon Technologies, Citibank and Ubisoft.

Founded in 2018, Tribe works closely with global corporations, government agencies, blockchain companies, and end-stage startups to build a community that fosters blockchain collaboration and innovation. .

Its goal is to “raise public awareness of the benefits and relevance of the daily use of distributed ledger technology through the use of decentralized applications (dApps) or auxiliary digital solutions ”.

Also read: In a nutshell: Singapore’s blockchain accelerator tribe becomes virtual for wave 3

“We are supporting a wide range of Advanced blockchain startups From around the world, with a total value of more than 1 billion US dollars, are addressing global issues from food security, education efforts to drug shipping, ”Tribe CEO Yi Ming Ng said.

Bei Goh, Pfizer, Asia Regional Digital Client Partner Team Leader, Pfizer, added: “The pandemic has put a strong focus on the pharmaceutical and healthcare industry, and in the process , it has accelerated the digital transformation.

“There is huge potential for blockchain in the pharmaceutical sector, from tracking and validating vaccines and drugs to making supply chains more efficient. Being part of the Tribe ecosystem gives us access to promising blockchain and other deep tech startups as well as a deep understanding of the latest industry trends, ”he said.

Tribe also said its participating startups have raised $ 70 million since joining the program. Some of its accelerators are Accredify, AID: Tech, TADA and xfers.

Image credit: Tribe

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