Corporates such as Alibaba, MGM, and Qualcomm are investing in Southeast Asia startups. Nine of the 14 most well-funded companies are in Singapore.
Despite not being as well known as an emerging market as its neighbors India and China, the Southeast Asian region saw a notable run-up in venture capital deals through the course of last year.
Part of the activity has been driven by China- and India-based investors, including corporates that are beginning to show increased interest in Southeast Asia as they grow operations internationally.
For example, just last April Chinese e-commerce giant Alibaba expanded into Southeast Asia by acquiring a majority share in regional online selling platform Lazada. Additionally, Sequoia Capital India and Sequoia Capital China have both made several investments in the region.
To better understand key players, we used CB Insights data to identify the 14 most well-funded tech companies based in Southeast Asia.
Overall, e-commerce firms in particular tend to be quite successful in the region, with those companies accounting for around half of regional firms with more than $50M in equity funding. Another notable trend is that those well-capitalized firms are mostly based in either Singapore, Indonesia, or Malaysia. Note: Data as of July 2016. Indonesia-based Go-Jek has since raised $550M from investors including DST Global, Formation Group and KKR.
See the full list below:
|Company||Country||Description||Disclosed Total Equity Funding ($M)||Select Investors|
|Grab||Singapore||Regional taxi booking and ride-sharing||$690||Vertex Venture Holdings, GGV Capital, Qunar, 500 Accelerator|
|Matahari Mall||Indonesia||Indonesia-based online e-commerce platform||$500||Lippo Group|
|Tokopedia||Indonesia||Indonesia-based online mall||$248||Sequoia Capital India, Softbank Ventures Korea, CyberAgent Ventures, East Ventures|
|PropertyGuru||Singapore||Singapore online real estate listings||$195||Square Peg Capital, TPG Growth, Emtek Group, ImmobilienScout24|
|Garena Online||Singapore||Internet and mobile gaming, e-commerce, financial services||$172||Keytone Ventures, General Atlantic, Khazanah Nasional Berhad, Singapore National Research Foundation|
|iCarsClub||Singapore||Online car rental economy||$120||Sequoia Capital China, Tiantu Capital, IDG Capital Partners, Morningside Ventures|
|Elevenia||Indonesia||Online e-commerce site||$110||SK Planet, XL Axiata|
|M-DAQ||Singapore||Multi-currency platform for securities trading and e-commerce||$99||Ant Financial Services Group, EDBI, GSR Ventures, Vickers Venture Partners, Citi Ventures|
|Capillary Technologies||Singapore||Cloud-based customer engagement and CRM platform||$79||Sequoia Capital India, Norwest Venture Partners, Qualcomm Ventures, Warburg Pincus|
|iFlix||Malaysia||Regional internet TV service||$75||Sky, Metro-Goldwyn-Mayer, Catcha Media, Philippine Long Distance Telephone Company|
|FashionValet||Malaysia||Online fashion e-commerce website||$75||Start Today Co., Elixir Capital, MyEG|
|Reebonz||Singapore||Asia/Australia luxury e-commerce site||$67||Intel Capital, GGV Capital, Matrix Partners, MediaCorp|
|Trax Image Recognition||Singapore||Retail image-recognition technology||$64||N/A|
|Antuit Holdings||Singapore||Big data analytics||$59||Goldman Sachs, Zodius Capital|
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