Singapore

SNIFFR.SG, Singapore's first design-centric crowdfunding platform, was unveiled on Monday by 23-year-old homegrown design and electrical company OTTO Solutions - a move observers say proves that crowdsourcing and design are becoming increasingly attractive to Singapore companies.

Unlike FundedHere, a securities-based crowdfunding platform launched last week that allows investors to pledge money in ventures in exchange for financial returns, Sniffr is a rewards-based platform that primarily targets consumers instead of investors.