Southeast Asia is one of the most diverse regions in the world. People’s demands are vastly different in each country – cultural differences, languages, and other characteristics create unique ideas for the 675 million people that live in those countries. As a result, the region offers fertile ground for a diverse range of startups to emerge and grow, each developing innovative applications and solutions for clients of all sizes and shapes.
Startups address new, inventive approaches to solve challenges that are frequently disregarded. And it appears that their strategies are working. Asia’s startup received $61.9 billion in funding in the first half of 2021. Showing a 15% increase over the previous year’s funding.
Following this, this article breaks down the:
- Best startup of the year
- Best startup of every Tech industries
- Interesting companies to look out for in 2022 all according to Startups Zone research and observation.
Best Startup of the Year
The Uber-killer is a Southeast Asian SuperApp that provides users with services such as ridesharing, food delivery, financial services, and many more. Founded in 2021 and has subsequently evolved into a regional powerhouse.
- Over 35 rounds of funding, Grab has raised a total of $16.5 billion. Their most recent fundraising came from a Post-IPO Equity round on December 2, 2021.
- GrabTaxi Welfare Fund successfully raised $2.8 million in a single venture fund.
- PT. Djarum and Altimeter Capital are Grab’s most recent investors
- Grab acquired 5 organizations, with Jaya Grocer being their most recent acquisition on Dec 14, 2021.
Best Startup of all Technology Industries
AgriTech – Limakilo
Limakilo is a provider of an online marketplace that connects farmers with food stalls and vendors to streamline the food supply chain. Farmers can use the company’s marketplace to sell their products, such as food grains and crops, directly to end-users, shortening their supply chain and reducing inventory storage time.
- In 2019, the company raised $27.5 million in Series B funding from EV Growth and two additional investors
Limakilo has been officially acquired by Warung Pintar, a micro-retail startup
BlockChain – Crypto.com
Known as the world’s fastest-growing crypto app, along with the Crypto.com Visa Card – the world’s largest crypto card program – the Crypto.com Exchange, and the Crypto.com DeFi Wallet, Crypto.com now serves over 10 million consumers. With the introduction of Crypto.com NFT, now being the world’s most popular platform for collecting and trading NFTs from various fields of art, entertainment, design, and sports.
- Crypto.com has invested in DeBank on December 28, 2021, under Series A, valued at $25 million
Crypto.com has acquired 3 organizations, with the most recent Nadex on Dec 1, 2021, followed by The Small Exchange and The Card Group Pty Ltd.
EdTech – LingoAce
LingoAce is a top Mandarin Chinese language learning platform that’s also known as a global education technology company. LingoAce is reshaping the way children learn Mandarin Chinese, by providing a pleasant, engaging educational experience for kids as well as tools to help parents plan, schedule, and monitor their children’s learning.
- LingoAce has raised a total of $176 million in funding over 6 rounds: Angel, Seed, Series A twice, Series B, and a Series C
Funded by 6 investors, including Shunwei Capital, Owl Ventures, and many more
EnergyTech – EcoWorth Tech
EcoWorth Tech is a waste management partner that specializes in repurposing waste materials into reusable goods while also providing social and environmental gains. They are commercializing Carbon Fibre Aerogel technology, with a focus on value-creating applications in food waste, oil and gas, and the CleanTech and environmentally responsible programs.
On December 11,2017, EcoWorth Tech raised a total of SGD 1 million in a single round of funding.
EcoWorth Tech won the Startup Arena Pitch Battle 2021, with a one-week trial of App Annie Intelligence Lite and a US$2,500 cash prize sponsored by DBS Bank.
eSports – Josudo
Josudo is a full end-to-end learning solution that was created for gamers. It’s a 360-degree e-learning platform that helps all types of players to improve. They employ technology to pair athletes with coaches who are most suited to their skill level and areas of progress.
- Josudo has raised a total of $300,000 in investment over two rounds, the most recent being a seed round on May 31, 2019.
Funded by 3 investors called Confidential, Battery Road Digital Holdings, and Antler.
E-Commerce – Great Deals E-Commerce Corporation
Great Deals E-Commerce Corporation is the Philippines’ top e-distributor, catering to multi-national companies. Taking care of the brands like Abbot, L’Oréal, and Unilever’s requirements as they go forward online.
- Raised a total of $41.3 million in funding over 2 rounds (Series A and Series B)
- Funded by 3 investors known as FAST Group, CVC Capital Partners, and Navegar
FinTech – PRYTEK
PRYTEK is a Corporate Investment Group that has created a new asset class by combining technology and services industries to generate creative solutions and boost margins by combining legacy service businesses with deep tech innovations.
- PRYTEK has invested in 30 companies, the most recent of which was Hirewell, which raised $21 million on November 9, 2021.
There have been three exits for PRYTEK. Splitit, Cronus Cyber Technologies, and ICV are among PRYTEK’s most prominent departures.
8. FoodTech – Shiok Meats
Shiok Meats is a company that specializes in cellular aquaculture and cell-based meat. With the goal of bringing clean and healthful meats and seafood to the masses by harvesting from cells rather than animals. Shiok Meats offers animal-friendly, healthy, and environmentally friendly cell-based crustacean meats.
- Over the course of eight rounds of fundraising, the company has raised a total of $20.4 million. Their most recent fundraising came through a Convertible Note transaction on July 21, 2021.
- Shiok Meats is backed by 41 investors, the most recent of whom being Alexander Payne Living Trust and Iron Grey.
HealthTech – HaloDoc
HaloDoc is a platform for healthcare providers. Through medical delivery service ApotikAntar, HaloDoc links customers to a network of 19,000 licensed doctors, 1,000 authorized partner pharmacies, and licensed medical laboratory services. Chat, video, and audio calls are available for users to interact with medical professionals.
- Over the course of five rounds of fundraising, Halodoc has raised a total of $145 million. The most recent was on April 21, 2021, when a Series C round was completed.
- Halodoc is funded by a total of 19 investors. The most recent investors are Openspace Ventures and PT. Astra International Tbk.
LegalTech – Memori
Memori is a legacy-planning platform that lets you create your Will, safeguard your digital assets, manage your insurance policies, plan for your end-of-life, and leave final words for your loved ones.
Secured its second seed round of investment from members of an Asian royal family
Secured its first seed investment of $100,000 at the end of 2018 from 113 Venture Growth fund
Martech – Zanroo
Zanroo is a Data Technology firm that focuses on overcoming and strengthening human interaction via the use of online, offline, and real-time data. Zanroo can help with managing large data sets, developing data management solutions, and integrating data from a variety of sources, including online (websites, landing pages, mobile apps) and offline (printed media, surveys, interviews) data to uncover business insights and analyze human and machine behavior.
- Zanroo has raised a total of $7.4 million in funding over Series A in 2017.
- Zanroo is funded by Shift Ventures
PropTech – Propzy
Propzy is a full-stack real estate platform in Vietnam that generates and facilitates property sales and leases. Propzy has produced a compelling value offer for customers and established a clear competitive advantage in Vietnam by combining a real estate marketplace on the front end with logistics, paperwork, and transaction services on the backend.
- Propzy has raised $33 million in 3 rounds of funding
- Propzy is funded by a group of 11 investors. The most recent investors are Insignia Ventures Partners and Softbank Ventures Asia.
RegTech – Dathena Science
Dathena Science was formed with the goal of creating a new paradigm in data security and privacy protection. In the midst of an ever-increasing influx of data. Enterprises all over the globe are grappling with the enormous task of capturing, managing, and regulating data in a more regulated environment, as social expectations for privacy protection rise. Dathena is offering innovative solutions with unmatched efficiency, speed, and accuracy to ensure its clients’ “privacy and data security protection journey” by using the power of cutting-edge AI technology.
- Dathena Science has raised a total of $12 million in funding over 3 rounds, with the latest from a Series A round in 2020
- Has a total of 6 investors, including Seeds Capital and CerraCap Ventures
SaaS – Near
Near, the world’s greatest source of knowledge about People, Places, and Products, is a worldwide leader in Data Intelligence, enabling businesses of all sizes to make smart, strategic decisions that result in superior business results. Near brings together marketers and data professionals by delivering the most precise, dependable data source that gives actionable insights about people, places, and products in both the physical and digital worlds.
- Near has raised a total of $134 million in 5 rounds of investment, the most recent being Series D in 2019.
- Funded by 8 investors including Greater Pacific Capital and Cisco
- UberMedia and Teemo are two of the companies that have been acquired by Near
TravelTech – Bobobox
Bobobox is a reputable accommodation service that allows travellers and commuters to stay in a smarter way to recharge their energy.
- Bobobox has raised a total of $13 million in three rounds of investment. Their most recent funding came from a Series A round on May 21, 2020.
- Bobobox Indonesia is funded by a group of 8 investors. The most recent investors include Alpha JWC Ventures and Horizons Ventures.
Interesting companies to look out for in 2022
Companies across the region are seizing the opportunity to expand and develop to align with Industry 4.0 while maintaining a tight grip on corporate responsibility as technology continues to progress and become more accessible. While these are the top startups in each tech industry, have a look at these intriguing businesses that could take the world by storm in 2022.
Futurelab is an online mentorship platform that aims to bridge the knowledge gap between education and the future workforce.
- Futurelab has raised a total of RM 2 million in funding over Seed round on Sep 29, 2021
- Funded by 3 investors, Sarawak Digital Economy Corporation Berhad and Indelible Ventures are the most recent investors, followed by
Carsome is an online used car platform that provides efficient car selling services to individuals and entities. Through its online bidding portal, customers are able to sell their vehicles directly to dealers. Carsome facilitates the entire car selling process from inspection to valuation, bidding, and payment as well as logistics needs, allowing the customers to sell their cars.
- Carsome has raised a total of $307.4 million in investment over the course of 12 rounds. Their most recent funding came from a Series D round on September 1, 2021.
- Carsome is backed by a group of 18 investors. The most recent investors are Daiwa PI Partners and 500 Southeast Asia.
Ajaib is a stock, ETF, and mutual fund trading platform that allows Indonesians to buy and sell stocks, ETFs, and mutual funds. The organization is dedicated to providing investors with safe, reliable, and cheap investment instruments. Its stock and mutual fund services are available to people from all walks of life via the internet.
- Ajaib has raised a total of $245.1 million in 5 rounds of investment. A Series B round of money was raised on October 4, 2021, which was their most recent round of funding.
- Ajaib is funded by a total of 13 investors. The most recent investors are Insignia Ventures Partners and DST Global.