Asia-Pacific’s small companies and startups on the rise.

From underwater drones to satellite propulsion systems and everything in between, the inaugural Forbes Asia 100 to Watch list spotlights notable small companies and startups on the rise across the Asia-Pacific region. At a time when economies worldwide are struggling from the pandemic, these agile companies are on a growth path. Their inclusion in the list comes in part from addressing problems such as improving transportation in congested cities, expanding affordable connectivity in remote regions and preventing food waste. Seventeen countries and territories are represented. Top categories include biotechnology & healthcare, e-commerce & retail, food & hospitality and education & recruitment. The lively startup communities in India and Singapore produced 22 and 19 companies, respectively. Hong Kong has 10 and Indonesia eight. Mainland China has just four, as many candidates were above the required maximums for revenues or funding.

Edited by Jeanhee Kim with John Kang

Reporting by Jonathan Burgos, Rina Caballar, Ramakrishnan Narayanan, Danielle Keeton-Olsen, Amit Prakash, James Simms, Yue Wang and Ardian Wibisono.


METHODOLOGY: To select our 100 to Watch, Forbes Asia solicited online submissions, and invited accelerators, incubators, SME advocacy organizations, universities, venture capitalists and others to nominate companies as well. The final 100 was selected from over 900 submissions. To qualify for consideration, companies had to be headquartered in the Asia-Pacific region, be at least one year old, privately owned, for profit, and have no more than $20 million in its latest annual revenue or total funding through Aug. 1. Our team evaluated each submission, looking at metrics such as a positive impact on the region or industry, a track record of strong revenue growth or ability to attract funding, promising business models or markets, and a persuasive story. The editors reserve the right to remove or replace any company or individual included in a list in light of any new information that would disqualify them from inclusion.

Ackcio


Singapore

Category: Construction & Engineering

Year founded: 2016 • CEO: Nimantha Baranasuriya

Key backers: Foundamental, Seeds Capital, Wavemaker

Ackcio produces automated geotechnical remote sensors that verify ground stability at construction sites. Its backers include Wavemaker.

Agrist


Japan

Category: Agriculture

Year founded: 2019 • CEO: Jyunichi Saito

Key backers: Eneos Innovation Partners, Jafco

Answering a critical farmer shortage in Japan, Agrist has applied for Japanese and international patents for its AI-driven robot harvester. It says it charges $15,000 for a three-year lease plus 10% of a harvest’s profits, and has raised over $4.5 million in capital.

Alesca Life Technologies


China

Category: Agriculture

Year founded: 2013 • CEO: Stuart Oda

Investment banker-turned entrepreneur Stuart Oda’s Alesca works with customers worldwide to build indoor farms. The company says its base of turnkey farm equipment grew by 200% in 2019 and another 750% in 2020. It benefited from rising demand for local produce after Covid-19 disrupted food supplies and made consumers more health conscious.

Algal Bio


Japan

Category: Biotechnology & Healthcare

Year founded: 2018 • CEO: Amane Kimura

Key backer: University of Tokyo

Based on two decades of University of Tokyo research, Algal Bio says it cultivated 3,000 unique algae strains for use in biofuels, cosmetics, medicines and supplements. The company says it has raised $4.1 million in total funding, including from the university’s Edge Capital Partners, and expects to double sales this year to $1 million.

Ampd Energy


Hong Kong

Category: Construction & Engineering

Year founded: 2014 • CEO: Brandon Ng

Key backer: HKSTP

Using lithium-ion battery technology, Ampd Energy’s electric generators are said to power construction cranes while emitting less greenhouse gas and making less noise than traditional diesel generators. Ampd Energy says it launched its generators early last year and that they are already used by 20 property and construction companies, including Jardine Matheson’s Gammon.

Aquaconnect


India

Category: Agriculture

Year founded: 2017 • CEO: Rajamanohar Somasundaram

Key backers: Rebright Partners, Flourish Ventures

The Coastal Aquaculture Research Institute, operating as Aquaconnect, provides services for fish and shrimp farmers. In addition to a farm advisory and an online shop for equipment and supplies, Aquaconnect provides financing, insurance and a network for farmers to connect with potential customers. It says it raised $4 million in July in pre-series A funding led by Rebright Partners and Flourish Ventures.

Aroma Bit


Japan

Category: Technology

Year founded: 2014 • CEO: Shunichiro Kuroki

Key backers: Seiko Epson, Kyocera

A developer of chips to identify and digitize the data of scents, Aroma Bit released its first compact aroma sensor in January. Its uses include quality control for food products, health management and disease detection. The company’s backers include Japanese tech firms Seiko Epson and Kyocera.

Authing


China

Category: Technology

Year founded: 2019 • CEO: Xie Yang

Key backers: GGV Capital, MiraclePlus

In under two years, Authing says it has attracted investment from A-list investors including GGV Capital and MiraclePlus (previously called Y Combinator China) with its identity management tool. The product allows a single sign-on to multiple cloud-based applications, and protects against security breaches. Authing says its customers include China Merchants Bank, Toyota and Volkswagen.

Autocrypt


South Korea

Category: Logistics & Transportation

Year founded: 2019 • CEO: Daniel Kim

Key backers: Hyundai, Ulmus Investment

As self-driving cars rise in use, security for their computer systems becomes increasingly important. Autocrypt, a spinoff from Seoul-based Penta Security Systems, provides these cars with cybersecurity and data theft protection. Autocrypt says it has raised $15 million from investors including Hyundai’s venture arm and Ulmus Investment and is valued at about $45 million. The company expects to make $8.5 million in revenue this year, up from $3.4 million last year. Besides South Korea, Autocrypt says it has offices in Canada, China and Japan, and will expand to Europe, Singapore and the U.S.

BeatO


India

Category: Biotechnology & Healthcare

Year founded: 2015 • CEO: Gautam Chopra

Key backers: Orios Venture Partners, Blume Ventures

Health Arx Technologies’ BeatO is a platform for managing chronic diseases such as diabetes through subscription-based smart-phone monitoring, information and online supplies. Of its half-million app installs, nearly 300,000 are paid members with 25,000 joining monthly, according to BeatO. It says it recently raised $5.7 million and has partnered with a major insurer to expand beyond India.

Beau Bakery


Indonesia

Category: Food & Hospitality

Year founded: 2015 CEO: Talita Setyadi

Key backer: SEAF Women’s Opportunity Fund

Founded by a Le Cordon Bleu graduate, Beau is a bakery and café brand operating restaurants and producing artisanal bread and pastries using locally sourced ingredients. Operated by Cahaya Mahakarya Lestari, Beau has a mission to train and grow talent. In 2019, Beau obtained funding from SEAF Women’s Opportunity Fund.

Bellatrix Aerospace


India

Category: Logistics & Transportation

Year founded: 2015 • CEO: Rohan Ganapathy

Key backers: IDFC Parampara, Survam Partners

Founded by then-university students, Bellatrix aims to create high performing, cost-efficient satellite propulsion systems, including a patented one that uses water as a propellant. Pre-revenue, Bellatrix says it raised about $3 million in 2019 from investors including IDFC Parampara and Survam Partners.

Belun Technology


Hong Kong

Category: Biotechnology & Healthcare

Year founded: 2016 • CEO: Lydia Leung

Key backers: HKSTP, Sino Group

Belun Technology developed a ring-like wearable device that can help medical professionals remotely monitor and assess patients’ sleep health. It can also collect biomarkers while a patient is asleep. Belun says it raised $7 million from investors including Hong Kong Science and Technology Parks (HKSTP) and property developer Sino Group’s Sino Inno Lab.

Betterplace


India

Category: Education & Recruitment

Year founded: 2015 • CEO: Pravin Agarwala

Key backers: Blume Ventures, Jungle Ventures

Betterplace lets companies digitally hire and manage blue collar employees, while bots help them upgrade their skills. The workplace management platform, the company says, is used by clients including Amazon and food delivery services Swiggy and Zomato to verify, track and pay staff such as security guards and construction workers.

BionicM


Japan

Category: Biotechnology & Healthcare

Year founded: 2018 • CEO: Sun Xiaojun

Key backers: Japan Science and Technology Agency, University of Tokyo

After 15 years of using crutches in his native China, Sun Xiaojun got a prosthetic leg in Japan, where he relocated and earned a Ph.D. in engineering from the University of Tokyo. Sun founded BionicM to develop more natural and safer prosthetics, including battery-powered knees and ankles. For example, it says its robotic ankle-foot can push off the ground and lift over obstacles. He says BionicM will begin sales of its robotic prosthetic leg this year, charging around $45,000—less than the cost of similar prosthetics from the U.S. or Europe. In August 2020, BionicM says it raised $4 million in a series A round from investors including Japan Science and Technology Agency and University of Tokyo’s investment arm, nearly doubling its total funding.

Bobobox


Indonesia

Category: Food & Hospitality

Year founded: 2017 CEO: Indra Gunawan

Key backers: Alpha JWC Ventures, Horizons Ventures

Bobobox Mitra Indonesia offers affordable capsule hotel accommodations in Indonesia, with sleeping pods in 14 locations across Indonesia. Customers pay per night but soon could rent by the hour in several locations. Bobobox has expanded from hotel pods to cabin rentals in the woods, called Bobocabin, and a campervan, Bobovan.

BondEvalue


Singapore

Category: Finance

Year founded: 2016 CEO: Rahul Banerjee

Key backers: Citigroup, MassMutual Ventures

BondEvalue is making bonds more widely accessible to individual investors. The company has been approved by Singapore to operate BondbloX Bond Exchange, calling it the world’s first fractional bond exchange that allows trading in minimum denominations of $1,000. In June, the company announced a $6 million series A round from investors including MassMutual Ventures and Citigroup.

Brick & Bolt


India

Category: Construction & Engineering

Year founded: 2018 • CEO: Jayesh Rajpurohit

Key backers: Foundamental, Sequoia Surge

Pluckwalk Technologies’ Brick & Bolt is a design-to-build platform for the construction industry including project management and regular quality checks. The startup says it has over 700 individual and commercial developer clients, and has raised $4 million in funding. Investors include Sequoia Surge and Foundamental.

BrioHR


Malaysia

Category: Education & Recruitment

Year founded: 2018 • CEO: Benjamin Croc

Key backers: East Ventures, Global Founders Capital, Y Combinator

A cloud-based human resources management platform, BrioHR offers all-in-one services, from recruitment to payroll, for SMEs in Southeast Asia. A recent graduate of the Y Combinator incubator, BrioHR announced in March that it bagged $1.3 million from investors including Global Founders Capital and East Ventures.

Captain Fresh


India

Category: E-commerce & Retail

Year founded: 2019 • CEO: Utham Gowda

Key backers: Accel Partners, Matrix Partners India

Captain Fresh, developed by Infifresh Foods, uses digital technology to streamline India’s fragmented $30 billion seafood industry. It says its real-time B2B platform uses AI to help 550 retailers—a base that has grown over 500% in one year—match customer orders with India’s fishermen and fish farms. Founder Utham Gowda says predictive models help source supplies of specific fish days before customers place orders, enabling overnight delivery to some cities. In July, Captain Fresh says it raised $12 million in a series A round led by Accel Partners and Matrix Partners India.

ChatGenie


Philippines

Category: E-commerce & Retail

Year founded: 2020 • CEO: Ragde Falcis

ChatGenie combines online shopping platforms and Grab’s GPay and delivery into the Facebook Messenger interface to allow customers to shop by direct message. It was launched a month before Manila’s first pandemic lockdown.

Classum


South Korea

Category: Education & Recruitment

Year founded: 2018 • CEO: Chaerin Lee

Key backers: Pearl Abyss, Smilegate

Classum simplifies class communication for teachers and corporate trainers by providing video, chat and learning tools on one platform. The startup says it has raised $7.5 million so far from investors including the VC arms of Korean gaming companies Pearl Abyss and Smilegate.

CloudEats


Philippines

Category: Food & Hospitality

Year founded: 2019 • CEO: Kimberly Yao

CloudEats’ secret sauce is its cost efficiency—operating 60 restaurant brands out of versatile “cloud kitchens.” It is also developing its own brands and tailors recipes and concepts based on customer feedback. Cloudeats says it has raised $1.8 million in funding off its lightning-fast scaling, with another round scheduled to close this year.

CoCooking


Japan

Category: Food & Hospitality

Year founded: 2015 • CEO: Kazuma Kawagoe

Key backer: PE&HR

Chef Kazuma Kawagoe cofounded CoCooking to hold culinary events and workshops. Its Tabete app, launched in 2018, reduces food waste by allowing its users to buy food nearing expiration from bakeries, restaurants and takeout food stores. The company says it has 400,000 users and gets food from some 1,500 sources. CoCooking says in June it got a $1.4 million pre-series A funding round led by VC firm PE&HR.

Conicle Co.


Thailand

Category: Education & Recruitment

Year founded: 2014 • CEO: Nakorn Phuekphiphatmet

Key backer: Intouch Holdings

Conicle develops online learning and employee development programs for companies, including certificates, coursework and evaluation. It says customers include over 500 organizations in various industries in Southeast Asia, with more than 500,000 registered users. This fiscal year the firm says it expects to double last year’s revenue of $1.7 million.

Convosight Analytics


India

Category: Technology

Year founded: 2017 • CEO: Tamanna Dhamija

Key backers: IvyCap Ventures, Sequoia Surge

As a community marketing platform for Facebook groups, Convosight uses data analytics and machine learning to help brands tap into communities. It says it has raised $4.5 million in funding from investors including IvyCap Ventures and Sequoia Surge. Convosight forecasts it is on track to more than double its revenues from $1.4 million in 2020-21.

Dayta AI


Hong Kong

Category: E-commerce & Retail

Year founded: 2018 • CEO: Patrick Tu

Key backers: HKUST, ParticleX

Dayta AI’s cloud-based platform uses surveillance cameras to analyze customer behavior, allowing retailers to improve sales and customer experience. Launched in 2018, Dayta AI says it has raised $3 million, including from the Entrepreneurship Fund of Hong Kong University of Science and Technology (HKUST) and accelerator ParticleX.

Dekoruma


Indonesia

Category: E-commerce & Retail

Year founded: 2015 • CEO: Dimas Harry Priawan

Key backers: Foundamental, InterVest, OCBC NISP Ventura

Dekoruma Inovasi Lestari has grown its e-commerce platform from just furniture into a one-stop-shop for home and living, including architecture services and residential sales listings. Last year it bagged undisclosed pre-series C funding from InterVest, Foundamental, OCBC NISP Ventura, Skystar Capital and others.

DoctorOnCall


Malaysia

Category: Biotechnology & Healthcare

Year founded: 2016 • Managing Director: Maran Virumandi

Key backer: Conny & Co.

DoctorOnCall is a digital health platform that offers telehealth consultations with board-certified doctors, online pharmacy and delivery services, as well as booking services for doctors and specialists. DoctorOnCall says it serves an estimated 3 million users nationwide. The company plans to build mobile clinics to make healthcare more accessible to rural communities.

DrinkPrime


India

Category: Food & Hospitality

Year founded: 2016 • CEO: Vijender Reddy Muthayala

Key backers: Omidyar Network, Sequoia Surge, Titan Capital

Given the lack of clean water in parts of India, DrinkPrime offers a pay-per-use model for water purifiers, so customers don’t have the high upfront costs of buying and installing filtration equipment. WaterWala Labs, owner of DrinkPrime, says it has raised $4 million from Sequoia Surge, Omidyar Network and Titan Capital.

Dropee


Malaysia

Category: E-commerce & Retail

Year founded: 2017 • CEO: Lennise Ng

Key backers: Vynn Capital, Y Combinator

Claiming to be the country’s leading B2B e-commerce marketplace, Dropee provides an integrated supply chain network that facilitates transactions between businesses and their suppliers. The company says it serves around 70,000 businesses, with revenue up 600% in the last three years. Dropee says it raised $1.3 million in seed funding last year from investors including Vynn Capital and Y Combinator.

Ease Healthcare


Singapore

Category: Biotechnology & Healthcare

Year founded: 2019 • CEO: Guadalupe Lazaro

Key backer: Insignia Ventures Partners

Ease’s app allows efficient and discreet delivery of women’s health services, and the company says its customer base grew from 1,000 to 4,000 users last year. Ease says it can deliver birth control, STD test kits and emergency contraceptives within four hours. It also offers online health consultations, resources and forums as an alternative to traditional healthcare delivery and to remove the stigma surrounding women’s health.

En-trak


Hong Kong

Category: Construction & Engineering

Year founded: 2013 • CEO: Vincent Chow

Key backers: Alibaba Entrepreneurs Fund, CLP

En-trak’s AI-powered software personalizes room temperatures and lighting in offices to create an optimal work environment and save electricity. The company claims its AI helps users cut up to 20% of heating, ventilation and air-con energy consumption. En-trak backers include Alibaba Entrepreneurs Fund and Hong Kong’s CLP.

Entri Software


India

Category: Education & Recruitment

Year founded: 2017 • CEO: Mohammed Hisamuddin

Key backer: Innospark Ventures

A language learning app for job skills, Entri’s market is the estimated 400 million Indians aged 18 to 45 who are not proficient in English. The company says it acquires about 350,000 new users every month and about 5.5 million people have used Entri. The company claims nearly 50,000 of them have since found jobs.

Evermos


Indonesia

Category: E-commerce & Retail

Year founded: 2018 • CEO: Iqbal Muslimin

Key backers: Alpha JWC Ventures, Jungle Ventures

Setiap Hari Dipakai, operating as Evermos, is a Muslim-focused social commerce platform, connecting consumers to resellers and brands offering halal goods. In two years Evermos says it has attracted 500 brands and a network of 75,000 resellers that are paid by commission.

Farm66 Investment 


Hong Kong

Category: Agriculture

Year founded: 2013 • CEO: Tam Chi Ho

Key backers: Alibaba Entrepreneurs Fund, Cyberport, ParticleX

Using its own environmentally sustainable technologies like multilayer vertical planting and hydroponics, Farm66 grows organic vegetables for airline caterers, supermarkets and local consumers. Farm66 says investors have provided $4 million in funding, include Alibaba Entrepreneurs Fund, Hong Kong’s Cyberport, accelerator ParticleX and Sino Inno Lab.

Fasal


India

Category: Agriculture

Year founded: 2018 • CEO: Ananda Verma

Key backers: Flipkart Leap, Omnivore, Wavemaker

AI-powered platform Fasal takes the guesswork out of farming by providing real-time data on farm conditions in local languages to farmers on any device. In July, Wolkus Technology Solutions, owner of Fasal, graduated from accelerator Flipkart Leap’s inaugural program. The company says it has a total of $2 million from investors including Omnivore and Wavemaker.

Gamezop


India

Category: Entertainment & Media

Year founded: 2015 • CEO: Yashash Agarwal

Key backer: Bitkraft Ventures

A multigame platform, Gamezop allows users to play their favorite games without having to install individual apps. According to Gamezop, its parent company Advergame Technologies raised about $4.3 million from investors including Bitkraft Ventures. Gamezop says it expects its 2020-21 revenue to double to $3.2 million.

Global Gene Corp.


Singapore

Category: Biotechnology & Healthcare

Year founded: 2013 • CEO: Sumit Jamuar

Adding to the diversity of genetic databases, where 80% of samples come from developed countries, Global Gene is mapping the DNA of populations on the Indian subcontinent. Better data would help drugmakers tailor medicines for each genetic type. The Singapore-based company has a R&D center in the U.K.

Gramophone


India

Category: Agriculture

Year founded: 2016 • CEO: Tauseef Khan

Key backers: Asha Impact, InfoEdge

Launched as an e-commerce farming supplies platform, Agstack Technologies’ Gramophone expanded to offer a full range of farming services including a post-harvest trade network and crop management advisory. In the last two years, it says it has added 500,000 customers and more than doubled revenue.

H2O Hospitality


South Korea

Category: Food & Hospitality

Year founded: 2015 • CEO: John Lee

Key backers: Dadam Investment, IMM Investment

H2O Hospitality is digitalizing the hotel industry. It auto-mates both front- and back-end processes, such as reservations, checking in and revenue management. Despite the pandemic, the startup says it has rising demand for its products, now managing 7,500 rooms in 16 cities across Korea, Japan and Thailand.

Haulio


Singapore

Category: Logistics & Transportation

Year founded: 2016 • CEO: Alvin Ea

Key backer: PSA

Haulio aims to be the Uber of Southeast Asia trucking. Backed by Singapore port giant PSA, Haulio says over 90% of truckers and drivers in the city-state use its app to book jobs. It’s also moving containers for shipping behemoth CMA CGM in Thailand and has set its sights on Indonesia next.

Hivery


Australia

Category: E-commerce & Retail

Year founded: 2015 • CEO: Jason Hosking

Key backer: Blackbird Ventures

Hivery uses AI and data management to help retailers and consumer packaged goods companies optimize product selection and merchandising. Hivery says its clients include Coca-Cola’s Australian distributor and Walmart. In December, it announced it will help East Japan Railway optimize the vending machines in its train stations.

Hoozing


Vietnam

Category: Finance

Year founded: 2015 • CEO: Hai Le

Hoozing’s app provides user reviews, price calculation tools, and digital payment options to speed property leasing and sales. Despite the pandemic, Hoozing earned about $1.1 million in revenue in 2020, CEO Hai Le says, adding the company will become profitable by year-end with $2 million in revenue.

Hyper Anna


Australia

Category: Technology

Year founded: 2016 • CEO: Natalie Nguyen

Key backers: IAG, Sequoia Capital

A virtual data scientist, Hyper Anna is AI-powered software that quickly analyzes data and automatically produces charts and narratives such as infographics for business customers. The Australia-based company is backed by investors such as IAG and Sequoia Capital. It says it has raised a total of $13 million and customers include Microsoft and Singtel.

i2e1


India

Category: Technology

Year founded: 2015 • CEO: Satyam Darmora

Key backer: Omidyar Network India

Omnia Information’s i2e1 (Information To Every One) has enabled digital inclusion for millions of Indians by turning local shops into WiFi hotspots. The shops provide internet access for as little as 5 rupees (7 cents) a day or for free if users agree to participate in corporate surveys, i2e1 says.

iHandal Energy Solutions


Malaysia

Category: Construction & Engineering

Year founded: 2009 • CEO: Aaron Patel

Key backer: Bintang Capital Partners

Building ventilation and heating contribute 10% of global electricity consumption. The company says its systems capture and reuse buildings’ wasted heat and recycle it, offsetting up to 70% of thermal emissions, with energy savings as high as 80%. It says it has raised more than $5 million in a recent round led by Bintang Capital Partners.

Immediation


Australia

Category: Technology

Year founded: 2017 • Managing Director: Laura Keily

Key backer: Thorney Investments

Founded by corporate lawyer and barrister Laura Keily, this legal tech startup saw surging pandemic-led demand for its secure videoconferencing and communication tools, which help courts operate virtually during lockdowns and other restrictions. In December, Immediation says it raised $2.8 million including from Thorney Investments.

Inspace


Australia

Category: Technology

Year founded: 2017 • CEO: Justin Liang

Key backers: Artesian, Sydney Angels

For property leasing and sales, Inspace lets landlords and agents create 3D digital renderings of buildings, give virtual tours and make videos. The startup says it partners with global property managers Brookfield, CBRE, JLL and Lendlease, and saw healthy revenue growth last year.

International Compliance Workshop


Hong Kong

Category: E-commerce & Retail

Year founded: 2014 • CEO: Lam Chi Him

Key backers: Betatron Venture Group, Cyberport, Headline

International Compliance Workshop’s platform matches buyers with suppliers vetted by the startup. ICW says its platform has a database of 30,000 accredited manufacturers used by global retailers, including Boots, Kroger and Walgreens. The startup’s backers include Hong Kong government-backed Cyberport and VC firms Betatron Venture Group and Headline.

Kalibrr


Philippines

Category: Education & Recruitment

Year founded: 2013 • CEO: Paul Rivera

Key backers: Omidyar Network, Wavemaker, Y Combinator

AI-powered recruitment company Kalibrr says it serves 5 million job seekers in Indonesia and the Philippines, looking to make the hiring process simpler, faster and better for companies and applicants. According to the company, it has raised $7.5 million from Omidyar Network, Wavemaker and Kickstart Ventures. It was the first Filipino company to be accepted by Y Combinator.

Kami


New Zealand

Category: Education & Recruitment

Year founded: 2013 • CEO: Hengjie Wang

Key backer: Right Click Capital

The digital classroom online tool is riding the online learning tsunami as the pandemic forced schools to adapt to remote learning. Its Google Chrome extension version has more than 4 million users. 

Lhamour


Mongolia

Category: E-commerce & Retail

Year founded: 2014 • CEO: Khulan Davaadorj

After developing skin rashes, Khulan Davaadorj founded her own natural skincare brand and now makes over 40 products, using many locally sourced ingredients such as yak’s milk. The zero-waste company says its products are sold in department stores in Mongolia and has distributors and sales outlets around the world.

Loca


Laos

Category: Logistics & Transportation

Year founded: 2018 • CEO: Souliyo Vongdala

The first and leading ride-hailing service in Laos, Loca has recently added new services to its platform such as out-of-home advertising, a trucking service and on-demand groceries. Pre-pandemic, Loca says most customers were tourists but widening local use has helped the business grow 30% monthly.

Log 9 Materials


India

Category: Technology

Year founded: 2015 • CEO: Akshay Singhal

Key backer: Sequoia Surge

A nanotech company working to develop both energy storage and filtration technologies, Log 9 says it has over 25 patents. During the pandemic, it launched advanced UV disinfectant products and has also produced long-lasting battery packs to charge two- and three-wheeled vehicles. The company is backed by Sequoia Surge and says it has raised $4.5 million.

Logivan


Vietnam

Category: Logistics & Transportation

Year founded: 2017 • CEO: Linh Pham

Key backers: Insignia Ventures Partners, K3 Ventures

The answer to Vietnam’s fragmented highway transportation network, Logivan allows companies to quickly locate and hire truck drivers who might otherwise return with empty trunks. Logivan says it has more than 60,000 drivers working for the likes of Coca-Cola, Olam and Wilmar. It says it has raised $8 million including from Insignia Ventures Partners and K3 Ventures.

Lozi


Vietnam

Category: Logistics & Transportation

Year founded: 2017 • CEO: Trung Hoang Nguyen

Key backer: Daal Ventures

Lozi’s delivery platform Loship is taking on giant rivals such as GoTo and Grab by promising delivery of anything—meals, raw materials, food supplies and people—within one hour. Covering Vietnam’s main and second-tier cities, Lozi says it has raised $16 million to expand its services.

Makers Hive


India

Category: Biotechnology & Healthcare

Year founded: 2018 • CEO: Pranav Vempati

Key backer: Starfish Growth Partners

A fully functioning bionic hand can cost $30,000 or more, a prohibitive price for most of the 39 million amputees worldwide. Makers Hive says by creating its parts in-house it could introduce KalArm last year for just $5,000, garnering $3 million in orders within a year.

Med247


Vietnam

Category: Biotechnology & Healthcare

Year founded: 2019 • CEO: Tuan Truong

Key backer: KK Fund

This offline-to-online health provider provides round-the-clock care through tech-driven health services on its app to full-service clinics. The company, which says it raised $1 million, aims to scale through partnerships.

MediConCen


Hong Kong

Category: Biotechnology & Healthcare

Year founded: 2018 • CEO: William Yeung

Key backers: Cyberport, ParticleX

MediConCen uses blockchain technology to automate medical insurance claims. By using digital signatures and smart contracts, the startup claims it can reduce fraud. MediConCen says it has over 600,000 users, who are connected to over 900 doctors. Investors include Hong Kong government-backed Cyberport and accelerator ParticleX.

Merico


China

Category: Technology

Year founded: 2018 • CEO: Ren Jinglei

Key backers: GGV Capital, OSS Capital, Polychain Capital

Merico’s algorithm monitors the efficiency and quality of software development by analyzing source codes. It says its service has attracted customers that include Bytedance, Didi and Tencent. Merico says it has raised $9 million, including from GGV Capital, Polychain Capital and OSS Capital.

Miso


South Korea

Category: Technology

Year founded: 2016 • CEO: Victor Ching

Key backers: FundersClub, Strong Ventures, Y Combinator

Miso is one of the most-used housekeeping service apps in Korea. Since launching, Miso has processed over 3 million bookings from 350,000 users, according to founder and CEO Victor Ching. Miso’s backers include Y Combinator and VC firms FundersClub and Strong Ventures.

Musiio


Singapore

Category: Entertainment & Media

Year founded: 2018 CEO: Hazel Savage

Key backer: Wavemaker

Musiio is a B2B company using AI to organize and search large catalogs of music mainly for other companies in the music industry. In July, Musiio announced funding that values the company at $10 million and signed a strategic client, music investment fund Hipgnosis.

MyCloudFulfillment


Thailand

Category: E-commerce & Retail

Year founded: 2014 • CEO: Nithi Satchatippavarn

Key backers: Gobi Partners, Siam Commercial Bank

E-Empowerment’s MyCloudFulfillment receives, packages and ships orders for e-commerce stores and provides data analytics to its customers. Last year, the company says it posted $3.8 million in revenue and aims to double that this year. In October, it says it raised $2 million in series A funding from investors including Gobi Partners and Siam Commercial Bank’s investment arm.

Nalagenetics


Singapore

Category: Biotechnology & Healthcare

Year founded: 2016 • CEO: Levana Sani

Key backers: East Ventures, Intudo Ventures

Nalagenetics is a genetics testing company that focuses on Asian populations. In response to the pandemic, it helped Indonesian hospitals build labs for Covid-19 testing and in July launched a saliva-based test that is faster and cheaper than PCR tests. Nalagenetics is using its Covid-19 proceeds to focus on pharmacogenomics—a study of how a person’s genes react to drugs. The company expects annual revenue to grow 80% next year, driven in part by reimbursements from insurance firms and licensing data to pharma companies.

NDR Medical Technology


Singapore

Category: Biotechnology & Healthcare

Year founded: 2014 • CEO: Alan Goh

Key backer: SGInnovate

NDR Medical’s image-guided robots help doctors identify lesions and conduct minimally invasive surgeries such as kidney stone removal. NDR’s automated needle targeting system has been successfully tested in Japan and is in clinical trials in South Korea and other Asian countries, NDR says. Pre-revenue, NDR says it raised $8 million last year.

Okra Solar


Cambodia

Category: Technology

Year founded: 2016 • CEO: Afnan Hannan

Key backers: Greenway Grid Global, Schneider Electric

Okra Solar’s hardware and software supplies electricity to villages off traditional grids. The company says it has given power to 2,500 people across 26 villages in four countries, and is backed by Schneider Electric and Greenway Grid Global. It is now seeking to raise $6.5 million in a series A round.

Otoklix


Indonesia

Category: Logistics & Transportation

Year founded: 2019 • CEO: Martin Reyhan Suryohusodo

Key backer: Sequoia Surge

Otoklix connects car owners in Indonesia to vetted auto repair shops with standardized and transparent pricing. It says it has partnered with over 1,300 repair shops to fix over 10,000 cars a month. The company gets a commission for each booking and a cut of spare parts sold to the shops.

Oye! Rickshaw


India

Category: Logistics & Transportation

Year founded: 2017 • CEO: Mohit Sharma

Key backers: Chiratae Ventures, Matrix Partners India

Oye! Rickshaw provides app-based last-mile ride-sharing and delivery in Delhi and nearby cities via electric rickshaws. Oye! says it has over 7,000 drivers and completed over 8.7 million rides. Founded by engineers Mohit Sharma and Akashdeep Singh, Oye! says it plans to expand its service across India.

Parcel Perform


Singapore

Category: Logistics & Transportation

Year founded: 2016 • CEO: Arne Jeroschewski

Key backers: 500 Startups, Wavemaker

A carrier-independent parcel tracking service for e-commerce companies, Parcel Perform says it works with over 700 carriers, enabling merchants to improve end-to-end service after point-of-sale. The pandemic-led e-commerce boom meant a 45% increase in customers, the startup says, including global brands Decathlon and Nespresso.

PayMongo Philippines


Philippines

Category: Finance

Year founded: 2019 CEO: Francis Plaza

Key backer: Y Combinator

PayMongo’s digital platform for merchants accepts all types of online payments. It says it serves around 7,000 mostly micro, small and midsized companies moving beyond brick-and-mortar stores to e-commerce. PayMongo is backed by Y Combinator and says it has raised $14.7 million in funding.

Pentester Academy


Singapore

Category: Education & Recruitment

Year founded: 2018 CEO: Vivek Ramachandran

Key backer: Sequoia Surge

Binary Security’s Pentester Academy trains government agencies and companies in cybersecurity. The CEO is known for uncovering a security breach in WiFi networks. The company says sales have doubled during the pandemic.

Planys Technologies


India

Category: Construction & Engineering

Year founded: 2015 • CEO: Tanuj Jhunjhunwala

Key backers: IIT Madras, Kris Gopalakrishnan

From searching for trapped miners to inspecting ports and offshore energy facilities, Planys’ underwater drones serve a variety of clients in India. Incubated at the Indian Institute of Technology Madras (IIT Madras), Planys is backed by investors including Infosys founder Kris Gopalakrishnan.

Populix


Indonesia

Category: E-commerce & Retail

Year founded: 2018 • CEO: Timothy Astandu

Key backers: Intudo Ventures, Pegasus Tech, Quest Ventures

Through its research platform, Populix says it connects businesses with 260,000 Indonesian shoppers who are incentivized to share their insights. From 2019 to 2020, it says revenue grew more than 380%. In April, Populix closed a $1.2 million pre-series A round with Intudo Ventures and Quest Ventures.

PrivyID


Indonesia

Category: Technology

Year founded: 2016 • CEO: Marshall Pribadi

Key Backers: Google for Startups, Mandiri Capital Indonesia, Telkomsel

Privy Identitas Digital is Indonesia’s leading digital identity provider and provides legally binding digital signatures. Its service is used by banks, telecom and healthcare firms. PrivyID recently graduated from the Google for Startups incubator.

Qzense Labs


India

Category: Agriculture

Year founded: 2019 • CEO: Rubal Chib

In a country where much fresh produce spoils, Qzense charges a monthly subscription for its IoT sensors to help growers and retailers assess and manage food quality, helping reduce India’s $14 billion annual produce losses.

Raglan Food


New Zealand

Category: Food & Hospitality

Year founded: 2014 • CEO: Latesha Randall

Key backers: Entrepreneur First, Lumis Partners, SOSV

Known for its coconut-milk based yogurt, Raglan says it sells 25,000 glass jars per week across New Zealand and through distributors in China, Hong Kong and Singapore. With its dairy-free products, the Carbon Zero organization is helping promote plant-based diets.

RaSpect Intelligence Inspection


Hong Kong

Category: Construction & Engineering

Year founded: 2017 • CEO: Harris Sun

Key backers: Alibaba Entrepreneurs Fund, Hong Kong Innovation And Technology Venture Fund

Based in a city filled with skyscrapers, RaSpect uses a combination of AI, IoT sensing technology and robotics to inspect buildings for hazards—which it says is a more accurate, faster and cheaper method than traditional inspections. RaSpect says it is also expanding into predictive maintenance of elevators, escalators, heating and other systems used in buildings. This year it expects revenue to grow 275% to $3 million. Aside from Alibaba Entrepreneurs Fund and Hong Kong’s Innovation and Technology Venture Fund, it says it is also funded by HKSTP, MindWorks and accelerator ParticleX.

Rct Studio


China

Category: Entertainment & Media

Year founded: 2018 CEO: Yuheng Chen

Key backer: Y Combinator

Rct Studio helps create immersive interactive games with its Chaos Box algorithm, which can generate new storylines and character responses in real time. The startup says it is codeveloping the multiplayer online game Code: Odyssey with Chinese gaming studio Umi, which uses Rct Studio’s technology.

Regional Fish Institute 


Japan

Category: Agriculture

Year founded: 2019 • CEO: Tadanori Umekawa

Key backers: Mitsubishi UFJ Capital, NTT Docomo, Ube Industries

This startup uses gene editing to quickly improve fish breeds for consumption, such as a faster growing tiger pufferfish and a sea bream with more fillet meat. Regional Fish says it arose from a joint research group between Kyoto and Kindai universities, and investors include machinery firm Ebara, Mitsubishi UFJ Capital, NTT Docomo’s venture arm and Ube Industries.

Rice Robotics


Hong Kong

Category: Technology

Year founded: 2018 • CEO: Victor Lee

Key backers: Alibaba, Cyberport, New World Development

Rice Robotics builds autonomous delivery and disinfection robots. The startup says it has more than 100 customers, including hotels, malls and subway stations. Backers of Rice Robotics include Alibaba Entrepreneurs Fund, Hong Kong’s Cyberport and property giant New World Development.

Robotics Plus


New Zealand

Category: Agriculture

Year founded: 2008 • CEO: Steven Saunders

Key backer: Yamaha Motors

Robotics Plus’ technology helps make agriculture and other industries safer and more efficient with products such as a kiwi fruit harvester, a robotic tree scaler and a pollinator. Robotics Plus says it is backed by $10 million from Yamaha Motors and New Zealand’s Accident Compensation Corp., and sells its products in Australia, Europe and the U.S.

Safepay


Pakistan

Category: Finance

Year founded: 2019 CEO: Raza Naqvi

Key backers: Stripe, Soma Capital

A graduate of Y Combinator, Safepay allows online merchants in Pakistan to process payments on their sites and apps. The firm says it takes a 2.5% commission on transactions and in February announced a seven-figure funding round that included fintech Stripe.

Sampingan


Indonesia

Category: Education & Recruitment

Year founded: 2018 • CEO: Wisnu Nugrahadi

Key backers: Altara, Antler, Golden Gate Ventures

Enabling the gig economy, Sampingan connects companies with freelancers to do part-time and full-time temp work. So far, Sampingan says it has bagged $7.1 million in total funding from investors including Altara, Antler and Golden Gate Ventures. It operates in 80 Indonesian cities, it says, with clients that include GoTo and Unilever.

Sarva


India

Category: Education & Recruitment

Year founded: 2016 • CEO: Sarvesh Shashi

Key backers: Fireside Ventures, Jennifer Lopez

A yoga studio with 93 locations across India and London, Sarva quickly pivoted to yoga instruction via a mobile app during the pandemic. Within 12 months Sarva says the app was downloaded 600,000 times. Owner Zorba Renaissance says it has raised $11 million from VC firms such as Fireside Ventures as well as celebrity investors such as Jennifer Lopez.

Sastaticket


Pakistan

Category: E-commerce & Retail

Year founded: 2015 • CEO: Shazil Mehkri

Key backer: Gobi Partners

Claiming to be Pakistan’s largest online travel search and booking site, Sastaticket says it had $10.5 million in gross sales from nearly 70,000 transactions in 2020, and raised $1.5 million in a series A round in 2018 led by Gobi Partners.

See-Mode Technologies


Singapore

Category: Biotechnology & Healthcare

Year founded: 2017 • Directors: Milad Mohammadzadeh, Sadaf Monajemi

Key backers: Cocoon Capital, Entrepreneur First, SGInnovate

Stroke is a leading cause of death, and See-Mode helps predict the disease using AI-powered software. With the software, vascular ultrasound scans can be analyzed in one minute with a single click. See-Mode says it has been approved for use in Australia, Europe, Singapore and the U.S., and has raised $8 million in funding so far.

Sophie’s Bionutrients


Singapore

Category: Food & Hospitality

Year founded: 2017 • CEO: Eugene Wang

Key backer: Temasek

Creating alternatives to meat and milk, Sophie’s Bionutrients expects to turn profitable within three years amid growing demand for its microalgae-based products in Europe and North America. Backed by Singapore’s Temasek, the company sells their plant-based proteins to food manufacturers.

Speedoc


Singapore

Category: Biotechnology & Healthcare

Year founded: 2017 • CEO: Shravan Verma

Key backer: Vertex Ventures

Serving Singapore and Malaysia, Speedoc has over 100 full-time and part-time doctors and nurses providing house calls and telemedicine, services made more attractive by the pandemic. Since 2018, annual revenue has risen an average of 300%, Speedoc says. Last year, the startup says it closed a $5 million series A round led by Vertex Ventures.

SWAT Mobility


Singapore

Category: Logistics & Transportation

Year founded: 2015 • CEO: Jarrold Ong

Key backers: Global Brain, UTEC

Providing ride-sharing services using route optimization, SWAT devises efficient car-pooling that cuts both road congestion and energy consumption. SWAT says it operates in seven countries and has raised $18 million from investors including Global Brain in Japan.

Transcelestial Technologies


Singapore

Category: Technology

Year founded: 2016 • CEO: Rohit Jha

Key backers: 500 Startups, Wavemaker

Transcelestial Technologies wants to provide high-speed internet connections to far-flung regions underserved by telcos and in congested urban areas. The startup claims its solution is cheaper and faster than conventional fiber optic cables.

Traverse Technologies


Singapore

Category: Construction & Engineering

Year founded: 2017 • CEO: Thet Lin Thu

Key backers: Golden Gate Ventures, Y Combinator

Using AI and software, Traverse produces optimal engineering designs of large infrastructure projects such as wind farms, hydropower plants, roads and transmission lines. A 2019 graduate of incubator Y Combinator, it says it has contributed to 3 gigawatts of wind and transmission projects in Japan, Spain, India and Southeast Asia totaling around $4.5 billion.

Truemeds


India

Category: Biotechnology & Healthcare

Year founded: 2019 • CEO: Akshat Nayyar

Key backers: Asha Impact, Indian Angel Network Fund, Info Edge Ventures

Using AI to help patients purchase generic medicine, ​​Intellihealth Solutions’ Truemeds says it had about $1.5 million in revenue last year. With expanding geographical coverage, it expects revenue to increase 650% in 2021. The company says it raised about $5.8 million, including $5 million in a recent series A round from investors including Asha Impact, Indian Angel Network Fund and Info Edge Ventures.

Turtle Shell Technologies


India

Category: Biotechnology & Healthcare

Year founded: 2015 • CEO: Mudit Dandwate

Key backers: Prime Venture Partners, Yournest

When hospitals turned away non-Covid-19 patients during the pandemic, Turtle Shell’s Dozee monitors changed homes into mini-ICUs. A WiFi-enabled hub connects to sensors placed under a mattress to transmit real-time data such as heart rate and oxygen saturation levels to doctors and family. It says customers include over 160 hospitals in 18 cities.

UnaBiz


Singapore

Category: Technology

Year founded: 2016 • CEO: Henri Bong

Key backers: ENGIE Ventures, KDDI, Soracom IoT Fund

Claiming sales in over 25 countries, UnaBiz is an IoT service provider specializing in product design, manufacturing and cloud services priced from $1 per device, per year. UnaBiz says it broke even in 2020 with $18 million in revenue.

Us2.ai


Singapore

Category: Biotechnology & Healthcare

Year founded: 2017 • CEO: James Hare

Key backers: EDBI, Sequoia India

Us2.ai is fighting heart disease, the world’s top killer, with AI. It says its software, which reads echocardiograms consistently, quickly and cheaply, is awaiting regulatory approval in the U.S. and EU. It says it licenses its software to pharmaceutical giants such as AstraZeneca and Roche, and has raised $4 million, including from Sequoia India and Singapore’s EDBI.

Vahdam India


India

Category: Food & Hospitality

Year founded: 2014 • CEO: Bala Sarda

Key backers: Fireside Ventures, Sixth Sense Ventures

Backed by Fireside Ventures, Sixth Sense Ventures and prominent angel investors, Vahdam India says it has raised $17 million in its quest to create a global Indian tea brand. It appears well on its way, saying revenue is nearly doubling annually and its products have been delivered to 130 countries.

Wada Bento


Hong Kong

Category: Food & Hospitality

Year founded: 2018 • CEO: Jason Chen

Key backer: Mizuho

Wada Bento helps food-service providers dispense prepared hot meals through vending machines. The startup says it raised $1.1 million so far from investors including Japanese bank Mizuho’s accelerator program, Mizuho Crowd Brain. 

Water Design Japan 


Japan

Category: Construction & Engineering

Year founded: 2020 • CEO: Kazushi Fujita

Water Design makes a patented device that produces nanosize bubbles in water. Its Ultra-Fine Bubble technology can clean equipment without harsh chemicals, promote growth in plants and keep seafood fresh for longer. The company says it has partnered with trading giant Sumitomo and chemical maker Asahi Kasei and is seeking large-scale expansion.

Wiz.AI


Singapore

Category: Technology

Year founded: 2019 • CEO: Jennifer Zhang 

Key backers: GGV Capital, K3 Ventures, Insignia Ventures Partners, Wavemaker

Wiz Holding’s Wiz.AI chatbot understands and speaks in local Asian languages or local accents (such as Singlish) to provide customer support. It also analyzes and stores data from these voice calls for customer relationship management systems. According to CEO Jennifer Zhang, the company has raised $8.5 million in funding and already has some multinational companies in Asia as clients.

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