About Iterative
Iterative is a venture capital firm founded in 2018. It is primarily based out of Singapore, Singapore. As of Aug 2026, Iterative is an active investor, having invested in 202 companies, with 4 new investments in the last 12 months. It primarily invests in Seed round in Singapore based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Consumer and High Tech. Most recently it participated in the $***** Seed round of Simaia Overall, Iterative portfolio has seen 1 unicorn and 5 acquisitions including key companies like Mercury, SUPA and Tendopay. A lot of funds co-invest with Iterative, with names like 500 Global sharing a substantial percentage of its portfolio. Iterative has team of 22 people including 11 partners.Key Metrics
Team Members
Portfolio Sectors
Rounds of Entry
Seed, Series A & 1 more
Portfolio Unicorns
Portfolio Soonicorns
Iterative's List of Top Investments
Iterative has a portfolio of 202 companies, one of which is a Unicorn. Their most notable investments are in become and Manuport.Their portfolio spans across Singapore, Indonesia, United States and 18 more locations. They have invested in Enterprise Applications, Consumer, High Tech and 31 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by Iterative:1. Mercury
Provider of a comprehensive online platform offering a range of financial services. The company provides integrated banking services for businesses, offering a platform to manage financial operations.
Key facts about Mercury
- Founded Year: 2017
- Location: San Francisco (United States)
- Annual Revenue: $1M - $10M as on Dec 31, 2021
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $546M
- Employee Count: 1,729 as on Jul 31, 2026
- Investors: Harmony Venture Partners, Sapphire Ventures and 80 Others
- Latest Funding Round: Series D, May 08, 2026, $*****
- Highlight: Editors' Pick
2. Arogga
Provider of an online pharmacy for healthcare products. The platform allows users to order medicines online by uploading the prescription and getting them delivers to the doorstep using the app. It also, offers information on the medicines and drugs with the price comparison to make better health decisions.
Key facts about Arogga
- Founded Year: 2020
- Location: Dhaka (Bangladesh)
- Stage: Seed
- Total Funding till date: $5.7M
- Employee Count: 216 as on Jul 31, 2026
- Investors: Blue Collective, Iterative and 15 Others
- Latest Funding Round: Seed, Oct 25, 2023, $*****
- Highlight: Editors' Pick
3. Botsync
Online platform providing robotic system integration solutions for various manufacturers. It is a provider of robotic solutions for automating and digitizing material movement in logistics and manufacturing industries through autonomous mobile robots. Their offerings include robotic platforms and digital solutions to streamline operations and enhance user experience.
Key facts about Botsync
- Founded Year: 2017
- Location: Singapore (Singapore)
- Annual Revenue: SGD 1M - 10M as on Dec 31, 2024
- Stage: Series A
- Total Funding till date: $5.2M
- Employee Count: 89 as on Jul 31, 2026
- Investors: Locus Ventures, CapFort Ventures and 31 Others
- Latest Funding Round: Series A, Jan 14, 2026, $*****
- Highlight: Editors' Pick
4. Intellect
Provider of integrated mental healthcare solutions for workforces. The solution includes employee assistance programs, clinical services, consulting, and holistic healthcare options. It offers self care apps, skill building programs, access to licensed psychologists and behavioral health coaches, and a network of providers. Services are designed to support both individual and organizational mental wellbeing goals. It offers features such as self care app, perfonalized mental health journeys, wellbeing analytics, and more.
Key facts about Intellect
- Founded Year: 2019
- Location: Singapore (Singapore)
- Annual Revenue: SGD 1M - 10M as on Dec 31, 2023
- Stage: Series A
- Total Funding till date: $22.2M
- Employee Count: 710 as on Jul 31, 2026
- Investors: Sequoia Capital, MS&AD Ventures and 38 Others
- Latest Funding Round: Series A, Mar 15, 2023, $*****
- Highlight: Editors' Pick
5. Spenmo
Cloud-based corporate cards and expense management solutions. It provides virtual and physical corporate cards for employees. It offers automation for expense reports along with online payments, payment cards for each employee, spending limits for users, purchase categorization, expense analytics, transaction data flow, and more.
Key facts about Spenmo
- Founded Year: 2019
- Location: Singapore (Singapore)
- Annual Revenue: SGD 0 - 1M as on Dec 31, 2020
- Stage: Series B
- Total Funding till date: $121M
- Employee Count: 68 as on Aug 06, 2025
- Investors: Salesforce Ventures, Addition and 36 Others
- Latest Funding Round: Series B, Jan 2022, $*****
- Highlight: Editors' Pick
Iterative's Year-on-Year Investment Trends
Iterative has invested in 202 companies over the last 6 years, with an average of 27 new investments annually in the last 5 years. In 2025, it made 24 investments, while as of Aug 2026, it has made 6 investments in this year. Its most recent first time investment was in Simaia and most recent follow-on round was in Decube.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 4 | 2 | 6 |
2025 | 21 | 3 | 24 |
2024 | 34 | 3 | 37 |
2023 | 35 | 3 | 38 |
2022 | 36 | 3 | 39 |
2021 | 16 | 5 | 21 |
2020 | 8 | 0 | 8 |
Iterative's Investments by Stage
Iterative has made 150 investments in Seed stage with an average round size of $1.15M, 3 investments in Series A stage with an average round size of $19.5M and 1 investment in Series B stage with an average round size of $50M.Stage of entry | No. of Investments |
|---|---|
Seed | 150 |
Series A | 3 |
Series B | 1 |
Note: We have considered here, only first round of investments
Iterative's Investments by Sector
Iterative has a diverse portfolio, with companies operating in the Enterprise Applications, Consumer, FinTech, Retail and High Tech. Notably, it has invested in 180 Tech companies, 121 Enterprise (B2B) companies, 96 Software companies and at least 80 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 72 |
Consumer | 44 |
FinTech | 31 |
Retail | 26 |
High Tech | 21 |
Others | 152 |
Note: We have considered here, only first round of investments
Iterative's Investments by Geography
Iterative has made most investments in Singapore (72), followed by Indonesia where it has made 26 investments.Country | No. of Investments |
|---|---|
Singapore | 72 |
Indonesia | 26 |
Vietnam | 10 |
Bangladesh | 9 |
Malaysia | 8 |
Others | 29 |
Note: We have considered here, only first round of investments
Iterative's recent investments
Iterative has made 6 investments in 2026 so far. Simaia and Cata are the latest among them.Here are the most recent investments by Iterative:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Aug 11, 2026 | China | Seed | 1180 | - | |
Apr 30, 2026 | Singapore | Seed | 4992 | [+5] | |
Feb 13, 2026 | United Arab Emirates | Seed | 6432 | [+1] | |
Jan 28, 2026 | Malaysia | Seed | 5148 | [+1] | |
Jan 19, 2026 | Indonesia | Seed | 3164 | [+4] |
Unicorns in Iterative's Portfolio
Iterative has 1 unicorn in its portfolio - Mercury. The most recent unicorn in their portfolio is Mercury which became a unicorn in 2021, 5 years before Iterative first invested in it.Here is a list of unicorns in Iterative's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
83 | Provider of a comprehensive online platform offering a range of financial services | 2017 | San Francisco | Series D | xroltun |
Acquired companies in Iterative's Portfolio
5 companies from Iterative's portfolio have been acquired. The most recent acquisition was WavTool in Jun 2025 by Suno for $*****.Here are Iterative's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 27, 2025 | Jul 20, 2023 | Seed | 9728 | |
Jun 20, 2025 | Mar 06, 2023 | Series A | 9841 | |
Dec 02, 2022 | Jun 01, 2020 | Seed | 8129 | |
Oct 13, 2022 | Jun 01, 2020 | Seed | 8870 | |
Oct 05, 2020 | - | - | 7902 |
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Team profile of Iterative
Iterative has a team of 22 members including 11 Partners, 1 Venture Partner and 2 Principals located in Singapore, United States and 2 more locations. Iterative's team sits on the board of 1 company.Here is a list of top team members in Iterative:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Singapore | - | ||
Partner | Menlo Park | - | - | |
Partner | Singapore | - | ||
Partner | - | - | ||
Partner | Bellevue | - | ||
Partner | San Francisco | - | ||
Partner | Singapore | - | - | |
Partner | Singapore | - | ||
Partner | - | - | - | |
Partner | Kuala Lumpur | - | - | |
Partner | - | - | - |
Co-investors of Iterative
Over the past 6 years, 319 investors have co-invested in Iterative's portfolio companies. This includes funds and angels.
- Invested before Iterative: Y Combinator, Antler and 64 others have invested in rounds before Iterative. There are 3 companies where Y Combinator has invested before Iterative and 3 companies where Antler has invested before Iterative.
- Top Co-investors of Iterative: 141 investors entered a company along with Iterative. These include investors like 500 Global (4 companies).
- Invested after Iterative: A total of 112 investors have invested in Iterative's portfolio after their investments. Top Investors include 500 Global (3 companies), XA Network (3 companies) and Monk's Hill Ventures (3 companies).
Recent News related to Iterative
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Cata raises USD 5.3M to unlock growth for F&B and retail brands globallyAsiaFoodJournal•Apr 30, 2026•Rally Cap VC, FoodLabs, Portage, 468 Capital and 4 others
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Data trust startup Decube raises $3m for enterprise AI expansionTech in Asia•Jan 28, 2026•Decube, Iterative, Hive Ventures, 500 Global and 1 other
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Iterative, Antler back $1m pre-seed of SG-based AI startup i10xTech in Asia•Jan 06, 2026•Antler, PPR Ventures, i10X, Iterative
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Iterative joins $1.7m round in SG edtech startup OttodotTech in Asia•Oct 30, 2025•Ottodot, Iterative, Iterative Health
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Iterative tops Southeast Asia VC rounds as startups raise $1.4bTech in Asia•Oct 09, 2025•Iterative, Antler
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Indonesian EV logistics provider Blitz raises pre-series ATech in Asia•Aug 25, 2025•Peak XV Partners, Asian Development Bank, Blitz Electric Mobility, Iterative and 1 other
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3cat Secures Pre-Series A Funding to Expand Used Electronics Platform in Southeast AsiaTechNode•Jun 26, 2025•3cat, The Radical Fund, Aeon, Iterative and 2 others
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Iterative backs SG fintech firm Seedflex’s $3.2m seed extensionTech in Asia•May 07, 2025•Seedflex Technologies, Z Venture Capital, Iterative, 500 Global
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Fintech funding across Southeast Asia drops 66% in Q1VnEconomy•Apr 12, 2025•Endowus, East Ventures, Y Combinator, 500 Global and 6 others
