: From blueprint to breakthrough – Power your deep tech journey with us
From deep tech to offshore wind and precision medicine, this series showcases how Enterprise Singapore is charting the development of new industries to power our enterprises and economy’s growth. Discover how we can partner you to Keep Growing.
It only takes a single spark to ignite a great idea.
For Biorithm founder Amrish Nair, that spark can be traced back to his days as a graduate student at Nanyang Technological University (NTU), where he focused his research on electrocardiogram (ECG) signal analysis and monitoring.
His passion for developing medical device technologies eventually led to the birth of medical technology startup Biorithm, which aims to reduce preventable pregnancy complications and stillbirth through predictive and precision medicine.
From clinching international product design awards to publishing multiple papers in Tier 1 journals, Biorithm is making waves in the medical technology industry. It’s a success story that has been a decade in the making.
Today, Biorithm’s flagship product Femom is used by some 600 patients worldwide. A medical-grade monitor that captures essential maternal-foetal bio-signals, Femom enables doctors to identify early warning signs of distress as well as provide personalised treatment.
This is how we’re supporting Singapore deep tech startups like Biorithm on their growth journeys.
Starting the ignition
With humble beginnings as an NTU spin-off, Biorithm made their big break in 2021 as a grand finalist at SLINGSHOT. As Asia’s leading deep tech startup competition, SLINGSHOT offered Biorithm crucial exposure to global venture capitalists, corporate investors, and industry veterans capable of helping their idea take flight.
“SLINGSHOT showed [us] how far we have come but more importantly, how far we still have to go”, Nair wrote in a LinkedIn post after the competition.
Like Biorithm, many deep tech startups require robust platforms to gain visibility and connect with the right investors and partners. That is where we come in, offering platforms such as SLINGSHOT and the Open Innovation Network, which offer large corporates the opportunity to source technologies from startups while providing real-world environments to refine these innovations.
Fuelling a passion for disruption
For deep tech startups seeking to push the boundaries of innovation, securing sustained financing can often feel like a baptism of fire.
This is especially so at growth stages, where startups typically experience uncertainty during research trials, prototyping and productisation. Essentially, because deep tech innovations are more complex, they require more time and cost to commercialise.
In 2023, Biorithm raised US$3.5 million (S$4.6 million) in Series A funding led by SEEDS Capital (Enterprise Singapore’s investment arm) and Adaptive Capital Partners. This support will not only enhance Biorithm’s expansion plans across Southeast Asia and the US but will also fund further research and clinical trials to improve patient experience.
To that end, SEEDS recently increased its co-investment cap for deep-tech startups to S$12 million and expanded its investment mandate to early growth-stage startups, fuelling the growth of more startups, especially those focused on leveraging technology to address pressing global issues such as climate change and healthcare.
Blazing a trail overseas
Through our global network of international partners and collaborators, Biorithm has made significant inroads in markets such as the US, taking their innovations global and flying the Singapore flag on the world stage.
With the largest pharmaceutical market in the world, entering the US was a natural next step for Biorithm. To accelerate their entry, they leveraged our network within the US to join Texas Medical Centre’s healthtech accelerator programme. This move created new opportunities for Biorithm to build connections, develop R&D capabilities, and capitalise on market demands, culminating in the successful expansion of their operations internationally.
Beyond the US, Biorithm also ventured into Germany, a global biotech hub and gateway to Europe. Through our Global Innovation Alliance programmes, they were able to connect with potential partners and gain greater exposure to the European market.
Today, Biorithm has two offices worldwide, in Singapore and the US.
Partner us on your deep tech journey
Ranking 4th globally in the 2024 Global Innovation Index, with deep tech deal volume increasing by over 30% year-on-year, Singapore’s journey to cultivating a thriving deep tech ecosystem has only just begun.
From strategic investments to collaborative initiatives, learn more about our efforts to help other deep tech startups flourish.
