Accelerating Asia, an accelerator VC firm running programs for early-stage startups, has announced investments in ten new companies joining the Cohort 7 program.
The new investments expand Accelerating Asia’s portfolio to 60 startups that have raised over $50 million, with Cohort 7 raising $5.2 million before joining the program.
Cohort 7 startups have a market presence in nine countries in Bangladesh, Pakistan, the Philippines, Myanmar, Singapore, Malaysia, Indonesia, Thailand and South Korea.
They cover various industries including hospitality, enterprise software, telecom, entertainment, logistics, retail technology, health technology and e-commerce. Overall, every startup addresses at least one Sustainable Development Goal (SDG).
Accelerating Asia’s new investees have average monthly gross merchandise value (GMV) in excess of US$46,000 and revenues in excess of US$13,000.
Around 60 percent of startups have at least one co-founder (Easy Rice, Shoplinks, Kooky, BizB, Healthpro.id and SafeTruck). According to the press release, it is “significantly higher than the average portfolio” as only 17.2 percent of private capital in Southeast Asia has been committed to female-founded startups.
Also Read: Accelerating Asia to Build a Corporate Culture That Fosters Innovation and Inclusion
Amra Naidoo, General Partner at Accelerating Asia, said: “The ten startups we have invested in have even more significant milestones in terms of revenue, user acquisition and other metrics than you would normally associate with early-stage startups . We believe this is a positive sign not just for Accelerating Asia, but for the Asia Pacific ecosystem as a whole. Our startups are finding products that are right for the market faster than ever before, so they can focus on scaling to market leadership.”
Below are the brief profiles of each Cohort 7 startup:
Cocotel (Philippines): A one-stop solution for hotel reservations. The proptech company supports independent hotels and resorts with technology, property management and digital marketing.
Hishabee (Bangladesh): A full-stack business solution helping 100,000+ small businesses in Bangladesh save time and increase revenue by selling online and everything else they need to run efficiently.
K-link (Myanmar and Thailand): An omnichannel cloud contact center platform provider that delivers high-end telecom services to hundreds of global brands without expensive hardware and complex telecom infrastructure.
Kooky.io (Korea): An entertainment platform where superfans meet K-pop artists by turning their passion into active support that helps them promote their favorite artists.
Safe Truck (Malaysia): An Internet of Things (IoT) fleet management system that tracks and collects telematics data, analyzes it with an AI-powered application, and helps transport companies achieve lower fares on end-to-end fleet sourcing.
Shoplinks (Singapore): It helps supermarkets in Southeast Asia monetize their transaction and loyalty data by delivering personalized promotions to shoppers via chat or apps for consumer brands, thereby tripling their ROI.
Easy Rice Digital Technology (Thailand): An agritech company that digitizes and improves quality assessment (QA) of staple foods to make their farm-to-table delivery faster, cheaper and healthier.
HealthPro (Indonesia): A platform that helps healthcare facilities easily locate their healthcare workers on-demand.
BizB (Pakistan): It’s a re-commerce marketplace for buying and selling the clothes and accessories you love, helping women make money, save money and help make fashion sustainable again!
Ulisse (Singapore): An IoT hardware and software platform that helps business decision makers save costs with commercial venues that perform better with data.
Accelerating Asia is licensed by the Monetary Authority of Singapore and runs programs for early-stage startups. In September 2021, she launched Fund II valued at $20 million. Accelerating Asia invests up to $250,000 in pre-Series A startups.
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