Temasek-backed Xora Innovation views commercial success as key for its portfolio of deep tech startups

TEMASEK-BACKED venture capital (VC) fund Xora Innovation does not consider valuation to be the key indicator of success for its portfolio of deep tech startups.

Instead, it is about the startup gaining traction with customers and achieving commercial success, said Phil Inagaki, chief investment officer of Xora.

To be specific, the VC aims to grow Singapore-born deep tech startups to the point where they have large revenues with good unit economics, and headroom to expand.