While China and India dominate the Asian tech landscape, startups in the region’s other emerging markets are increasingly being funded and gaining noticeable traction.
We used CB Insights Company Mosaic — which algorithmically assesses companies based on a variety of metrics including financing, hiring data, news sentiment, and more — to identify 11 hot early-stage (Angel and Series A) companies in Southeast Asia. The majority of these companies are focused on e-commerce or online marketplaces, including KFit, which provides multi-gym memberships, similar to the US-based ClassPass; as well as Pomelo, a fast fashion women’s apparel brand and marketplace focused on emerging Asian markets. In addition to the prevalence of e-commerce related companies, 7 of the 11 are based in Singapore.
The focus on e-commerce makes sense, since mobile is helping digital buying and internet penetration increase and proliferate throughout Asia. As these marketplaces and brands grow, the “picks and axes” companies (or providers of e-commerce/marketplace infrastructure and services) will grow with them. That’s the role of aCommerce, a Thailand-based end-to-end e-commerce platform. There’s also inventory-management startup TradeGecko as well as Ninja Logistics, a next-day delivery service company.
See below for the full list.
| Company | Description | Country | Total Disclosed Funding ($M) | Select Investors |
|---|---|---|---|---|
| Kfit | Multi-gym membership platform | Malaysia | $3.3 | 500 Startups, Global Founders Capital, Sequoia Capital, SXE Ventures |
| TradeGecko | Cloud-based inventory management software | Singapore | $7.2 | Golden Gate Ventures, JFDI.Asia, Jungle Ventures, NSI Ventures |
| aCommerce | End-to-end e-commerce platform | Thailand | $18.8 | Ardent Capital, Asia Pacific Digital, CyberAgent Ventures, Inspire Ventures, JL Capital |
| BitX | Bitcoin platform featuring wallet, exchange, and merchant services | Singapore | $4.8 | Ariadne Capital, Bitcoin Opportunity Corp., Digital Currency Group, Naspers |
| Pomelo | Fast fashion women’s apparel brand and marketplace | Thailand | $1.6 | 500 Startups, Fenox Venture Capital, Jungle Ventures, QueensBridge Venture Partners |
| ZipMatch | Real estate marketplace | Philippines | $3.5 | 500 Startups, IdeaSpace Foundation, IMJ Investment Partners, Monk’s Hill Ventures |
| 99.co | Real estate marketplace | Singapore | $2.2 | 500 Startups, East Ventures, Fenox Venture Capital, Golden Gate Ventures, Sequoia Capital China |
| AppInTop System | Mobile ad campaign management platform | Singapore | $6.0 | Run Capital |
| DocDoc | Online portal for rating, researching, and booking doctors | Singapore | $11.2 | 500 Startups, Hong Leong Financial Group, Jungle Ventures, SparkLabs Global Ventures |
| Ninja Logistics | Next-day delivery services for e-commerce companies | Singapore | $2.5 | Monk’s Hill Ventures |
| Pie | Enterprise chat application | Singapore | $2.0 | GREE Ventures, Publicis Groupe, Wavemaker Partners |
Want more data around emerging Southeast Asian startups? Login to CB Insights or sign up for free below.
If you aren’t already a client, sign up for a free trial to learn more about our platform.