From Tanglin to the World: How This Founder Built Singapore's Most Promising Climate-Tech Unicorn

In a nondescript office tower along Buona Vista Road, a startup born from Singapore's ambitions has quietly become one of Asia's most valuable climate technology companies. Founded in 2019 by entrepreneur Priya Menon, ClimateChain has grown from a handful of engineers to over 280 employees across three continents, with a current valuation exceeding $2.1 billion.

Menon's journey reflects the evolution of Singapore's startup ecosystem. After completing her PhD in environmental engineering at NUS, she spent three years at a traditional energy firm before recognising a critical gap: Southeast Asian manufacturers lacked affordable, transparent ways to measure and reduce their carbon footprint. "The region produces 9 per cent of global emissions but has virtually no homegrown solutions," Menon noted in a 2024 industry panel at JTC LaunchPad in Jurong.

What began as a proof-of-concept in a Tanglin co-working space in 2019 evolved into a software platform integrating IoT sensors with blockchain verification. Today, ClimateChain serves over 450 manufacturing and logistics firms across the region—including several companies in the Tanjong Pagar port and Jurong Industrial Estate. Customers report emissions reductions averaging 18 per cent within 18 months of implementation.

The company's trajectory mirrors a broader maturation of Singapore's innovation landscape. According to the Economic Development Board's latest figures, the startup ecosystem now comprises over 4,500 active firms, with deep-tech ventures attracting 42 per cent of venture capital in 2025—double the global average. Investment in climate and sustainability startups alone reached $580 million last year.

ClimateChain's success has been bolstered by Singapore's regulatory environment and global connectivity. The company secured a major grant from Enterprise Singapore in 2021 and participated in the Monetary Authority's regulatory sandbox for climate finance. Its headquarters, recently expanded to a full floor in the newly renovated Gateway@Buona Vista, now houses its Southeast Asia hub alongside R&D facilities.

Yet Menon remains clear-eyed about challenges. Scaling across markets with varying environmental standards, navigating supply-chain complexity, and competing against well-funded Chinese and Indian rivals all present obstacles. "Singapore's advantage isn't cost—it's trust, expertise, and access to capital," she explained during a recent talk at the Singapore Management University Business School.

As Singapore positions itself as a global hub for sustainable finance and green technology, ClimateChain exemplifies how local entrepreneurs, backed by robust infrastructure and strategic support, can build solutions with regional—and global—significance.

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