Blockchain Startups From Singapore-Based Tribe Accelerator Raise $70M

Tribe has also attracted new strategic investments from international VCs and added Pfizer as a network partner.

AccessTimeIconApr 14, 2021 at 1:00 a.m. UTC
Updated Sep 14, 2021 at 12:40 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Singapore’s first government-backed blockchain network, Tribe, has garnered new strategic investments from international venture capitalists to further the development of its Accelerator and Academy programs. Tribe Accelerator also announced Wednesday that its participating startups have raised over $70 million and its list of network partners now includes Pfizer.

Venture capital firm Korea Investment Partners ("KIP") has made a strategic investment in Tribe, marking its first direct investment in Singapore. Mandiri Investment Management Singapore ("MIMS"), a unit of Indonesia state-owned Bank Mandiri; Greg Kidd, an early Twitter, Coinbase and Square investor; and Hong Kong-based Stellar Partners have now also made strategic investments in Tribe.

The new funding will go toward expanding Tribe’s services and outreach to promising blockchain startups through Tribe Accelerator. The money will also support Tribe Academy in its efforts to increase access to education for underprivileged students and attract new talent to the blockchain sector.

Accelerator partnerships foster blockchain startup growth

Additionally, Tribe Accelerator now includes pharmaceutical heavyweight Pfizer among its list of network partners that contribute guidance, expertise, networking and resource support to its participating blockchain startups. Pfizer joins existing partners HSBC, Infineon Technologies, SBI Ven Capital, BMW Group Asia, ConsenSys, International Business Machines, Intel, Nielsen, PricewaterhouseCoopers, R3 and others.

"We are supporting a range of cutting-edge blockchain startups from around the world, with a total valuation of over USD$1 billion, that are solving global problems from food security to medicine deliveries,” said Tribe CEO Yi Ming Ng. For example, Accredify has developed a blockchain-based digital health passport that allows users to access and store test results via a mobile app.

Blockchain startups participating in Tribe Accelerator have raised “over US$70 million to date from investors including SGInnovate, Greycroft, SV Ventures and other global investment firms,” according to a company statement.

The accelerator’s alumni include companies such as Quantstamp, a blockchain-security firm, and, an artificial intelligence and data services provider.

The platform was launched in March 2019 and is now accepting applications for its fifth cohort.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.