Many Asian businesses had a successful year in 2021. Great ideas were backed up with finance, which provided the impetus they needed to continue their research and development. Because of the immense potential, many venture capitalists and large corporations are increasingly paying more attention to Asia.
Many of the countries there are at the top of the technological advancement rankings, indicating that we should be on the lookout for the big ones and possible unicorns. Let us inform you about 15 Asian startups you should be aware of in 2022.
Grab is a Singapore-based firm. It all started with taxi booking systems similar to Uber, where drivers may sell their services and users can utilize them for ride-sharing. They raised US$2 billion in Series G funding in Q3 of 2021, making it the largest round in Southeast Asia.
In Southeast Asia, the app is on more than 45 million devices. They’ve also increased their offerings since the investment. Grab now offers delivery of food, groceries, documents, packages, and more, comparable to Uber’s expansion with Uber Eats. They also now offer financial services such as numerous payment methods, insurance, and investment opportunities.
Also, Grab is a startup that has a lot of potential. They properly use the money they receive and expand their services to include individuals who were missing in Southeast Asia.
Bukalapak is an Indonesian eCommerce company that went public and raised US$1.5 billion. The company’s mission is to assist small businesses and retailers in going online. So, it is a third-party service that facilitates the purchase process between customers and small businesses.
The platform accepts a variety of payment methods, including bill payments and phone top-ups, and it is constantly adding new merchants. During the epidemic, their popularity skyrocketed because it allowed small businesses to stay open and make deliveries. They plan to use the funds to extend their services and, potentially, their market reach.
Thailand-based firm Kitty Live. They are a live video streaming platform for entertainment. Their business focuses on Southeast Asia, and they have over 10 million downloads on both app stores.
People use the platform because it is stylish and well-suited to the Asian market. It connects you to other fans as well as your favorite celebrities. Also, for the younger audience, the live chat option and live streaming are highly appealing.
Better HR is a Myanmar-based firm that raised six figures in a bridge deal. The amount isn’t in the open, but the cloud-based HR business claims it’s more than enough for their future goals. Their ambition is to grow their market outside Southeast Asia, with the possibility of going global.
Also, Better HR currently works with over 200 firms in Myanmar, Sri Lanka, and Vietnam, and these organizations manage over 35,000 people. The company’s mission is to make it easier for businesses to manage their employees and to serve businesses with numerous overseas employees.
M-DAQ is a Singapore-based multi-currency conversion tool. In their Series D capital round, they received S$200 million in investment. It is a one-of-a-kind site where you may check the price of any exchange-traded asset and trade it. Blending FX rates into equities and futures products allows you to accomplish so in many currencies.
They will be able to advance technologically as a result of the investment. They want to become the next large worldwide fintech ecosystem by expanding globally.
Milieu Insight is another Singaporean startup with a lot of promise. Consumer data and analytics is the company’s specialty. They received $5 million in their most recent investment round, which is more than double the amount they received in their pre-series A round.
MassMutual Ventures Southeast Asia led the fundraising round. Milieu Insight intends to use the funds primarily for product development and market expansion in Malaysia, Indonesia, the Philippines, and Vietnam. Their data-driven strategy is ideal for their partners, which is why they are rapidly expanding their client base.
GuildFi is a Web3 platform developer based in Thailand. They concentrate on game development, NFTs, and various communities. They were able to raise $6 million in their seed round, which is a remarkable achievement.
The company’s purpose is to bring gamers together by facilitating their game onboarding. They also form communities within the games, such as guilds, and outside the games, such as forums. It is estimated that there are around 20,000 daily users.
GuildFi is a startup worth checking out if you enjoy play-to-earn games and want to do so in a pleasant and friendly environment. With the money, they’ll strive to expand their services and collaborations with international game developers.
Mosaic Wellness is an Indian startup that dedicates to improving people’s health and well-being. Series A investment of $24 million was received. Many health services are available through the company’s internet platform. Some of the investors include Sequoia Capital India, Elevation Capital, and Matrix Partners India, indicating Mosaic Wellness’s enormous potential.
They have over 100,000 monthly users who use their digital platform to access a variety of health and wellness offers. Their services parts into two categories:
- Bodywise is a women’s digital health clinic.
- Men’s digital health clinic, Matters of Man.
They will be able to expand their team and offer new services as a result of this round of funding. Mosaic Wellness aspires to invest in technological advancements and make digital health and wellness platforms available to everyone.
SHEIN‘s objective is to conquer the global e-commerce marketplace with style. In 2019, the fashion shopping app, which offers clothing, home goods, and electronics, made US$2.83 billion in revenue. It is already popular in Western countries, ranking among the top shopping apps on the iOS App Store in France, Spain, and the United Kingdom.
Go-jek, which was founded in 2010, swept Indonesia by storm and became the country’s first unicorn. It has expanded into a provider of on-demand services like mobile payments, logistics, and food delivery, in addition to taxi-hailing. Google and Tencent are among the company’s investors. Go-jek added Facebook and Paypal to its investment list in June 2020. According to the corporation, their investments will boost payments and financial services in the region.
BYJU‘S created an app that includes e-learning programs for children in kindergarten through 12th grade, as well as preparation for entrance exams. Also, over 70 million students have signed up for the app, including 4.5 million paying annual memberships. It was the world’s most valuable Edtech business in September 2020.
Bitmain Technologies, established in Beijing, provides servers, chips, and cloud solutions for blockchain and artificial intelligence applications. Also, 75 percent of the global market for application-specific integrated circuit chips has been captured by the corporation. It has research and development centers in Hong Kong, Singapore, and the United States.
The DACSEE platform (‘Decentralised Alternative Cabs Serving & Empowering Everyone) was launched last year in Malaysia and is the world’s first fully decentralized and autonomous social ride-sharing business.
DACSEE drivers can purchase DACSEE tokens (an Ethereum-based cryptocurrency), but they can also receive fares from customers using the same token or cash. When people pay fares, nearly all of it comes back to the platform’s stakeholders, who include drivers, passengers, and government officials. DACSEE can grow without corporate assistance because of its unique design.
Also, the company claims that the peer-to-peer approach will disperse platform commissions to the DACSEE platform’s drivers, passengers, and municipal governments.
All DACSEE fare commissions will be put in a shared pool and subsequently allocated to stakeholders based on a number of parameters, including community ranking, length of time on platform, number of rides taken or provided on the platform, and size of their ‘Circle of Friends.’
The Indonesian firm, which was founded in 2015, is a blockchain-based data exchange for the food and agriculture industry. Its goal is to better the lives of industry workers by giving farmers in Indonesia valuable and hard-to-find information such as land ownership and crop pricing.
Farmers who enter data into the blockchain (such as grain price or soil quality) are rewarded with HARA Tokens, which can subsequently be swapped for necessary items such as fertilizer. Other farmers across the country can use this information to keep up with what’s going on in the agriculture sector in real-time.
Also, lack of financial inclusion is one of the most significant challenges that people in rural Southeast Asia face. They may have to borrow money from loan sharks at exorbitant interest rates of up to 60% per year. They assist these farmers by providing the data that financial institutions require to award loans.
HARA has successfully assisted various financial institutions in digitizing their loan administration and payout processes. They also use the data in market research papers to provide trustworthy information on Indonesian rice output.
The concept of the sharing economy is not new. People rent out their homes on Airbnb every day, Uber drivers provide rides in their personal vehicles, and we sell our old items on eBay or the re-selling app Depop.
Bluzelle is a Singapore-based startup founded by Pavel Bains and Neeraj Murarka in 2014. Also, they wanted to explore if blockchain could achieve the same level of success in the storage industry as it had in the banking sector.
Furthermore, keeping your data in many locations protects you from cyberattacks since. When one node is in danger, and the small quantity of information that goes to the hands of the attackers is almost meaningless without the context of the larger data set.
Many amazing Asian firms have the money and are striving to take over the world. The 15 we highlighted are only a small percentage of the ones to watch in 2022. Is there a unicorn lurking among them? It’s a distinct possibility. Let’s explore what this year has in store for startups in Asia.