Hiverlab founder seeks new funds to accelerate expansion

Ender Jiang, founder and CEO of Hiverlab. (PHOTO: Hiverlab)

Ender Jiang, founder and CEO of Hiverlab. (PHOTO: Hiverlab)

By Glendon Gwee

SINGAPORE — Imagine being able to work on an airplane engine or to visualise the placement of furniture in your new home. This is what Hiverlab is working on. The company specialises in immersive technologies such as Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR).

Hiverlab, the Singapore based start-up founded in 2014 by Ender Jiang Shutao, is seeking to raise Series A funding to fund growth and expansion in research and development as well as product development after raising S$1 million in a seed round in 2019. 

The funds will be used to help the company accelerate growth and expand into new markets in Southeast Asia namely Thailand, Malaysia, Indonesia and even Japan and the UAE where Hiverlab already has business partners, Jiang told Yahoo Finance Singapore in a recent interview. 

Jiang, a Chinese national,

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With Funds Nearly Exhausted, Paycheck Protection Program Will Stop Accepting Most New Applications

Portrait of mature worker using laptop and speaking by smartphone  in workshop interior, copy space.

Portrait of mature worker using laptop and speaking by smartphone in workshop interior, copy space.

The Paycheck Protection Program has been a popular vehicle for helping small businesses survive the COVID-19 crisis — so popular that it has run out of money for most borrowers nearly a month before its application deadline.

See: How Small-Business Struggles Hurt All Americans
Find: Small Businesses Face Record Numbers of Unfilled Positions

The news, announced Tuesday by the Small Business Administration, arrived only weeks after the PPP was extended through the end of May to give borrowers more time to apply for the forgivable loans, CNBC reported. The program was expected to exhaust its funds ahead of the deadline, though many lenders and borrowers were taken off guard at how quickly that happened. Applications from struggling businesses were still pouring in as the PPP ran out of money.

As it stands, the program will

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Column: Is city wasting funds on privately-owned business center?

Jim Cogan

City offering pay-as-you-can deal to Santa Barbara co-working center

–By Jim Cogan of Paso Robles

On Tuesday, the Paso Robles City Council will consider additional incentives for The Sandbox – a Santa Barbara-based co-working business – in exchange for the company establishing a second location in Paso Robles. In 2019, the city hired a consultant for $33,150 to oversee the acquisition and build-out of the space at 1345 Park Street to create a “Business Success Center.”

The project relies on the city leasing the office space and in turn subleasing that space to The Sandbox. That agreement has already cost taxpayers $64,600 in unpaid rent and $20,300 in unpaid loan repayments. The original agreement authorized the city to provide approximately $99,500 in loan forgiveness out of a total loan of $399,500 to pay for part of the tenant improvements.

The current city staff report recommends the

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2018 Funds Tax Highlights

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