Accelerating Asia has invested in nine new companies from across Asia as of Accelerating Asia’s sixth cohort with a presence in more than 10 countries. Accelerating Asia is one of the most active investors in pre-Series A startups and is an international VC accelerator licensed by the Monetary Authority of Singapore.
Cohort 6 startups have a presence in more than 10 countries in South Asia, Southeast Asia, North America and Europe. The verticals covered include PropTech, marketplace, FinTech, logistics, services, e-commerce, and healthtech.
Accelerating Asia is one of the most active investors in pre–Series A startups located in Southeast Asia and South Asia. Accelerating Asia’s portfolio has hit 52 startups and funded over $42 million. All of its portfolio companies have raised outside capital successfully in 2020 and 2021.
“With the nine new portfolio startups selected from 600 applicants and 4 follow-on investments, Accelerating Asia is excited to continue to invest in highly scalable pre-Series A startups that also have a positive impact in respective operating markets. Since 2019, we’ve built up our portfolio of startups with investors coming to Accelerating Asia to gain early access to a pipeline of startups that combine profit with purpose,” Amra Naidoo, General Partner of Accelerating Asia, said.
“Our VC accelerator model ensures high potential founders have greater access to needed capital financing, mentoring, and skill sets to enhance their growth trajectory and quickly become leaders in their respective verticals while also lowering the overall risk for our investors at an early stage.”
The nine new portfolio compaines are: Fitscovery (Philippines, SDG 3 & 8), Godaam Tech (Pakistan, SDG 3 & 8) Markopolo.AI (Bangladesh, Female Co-Founded), MedEasy (Bangladesh, SDG 3), NuCredits (US, UK, Europe, China, HK), relay.club (China and Southeast Asia, Female Co-Founded), Stylemyle (United States), Tokban (Indonesia, Female Co-Founded, SDG 8, 9 & 11), and 60 Plus India (India, Female Co-Founded, SDG 8 & 10).
Shuttle, Transtrack.ID, Numu and Giftpack are some of the follow-on investments made in 2021 by Accelerating Asia in addition to ProjectPro and iFarmer. Accelerating Asia invested in these companies in 2020 and 2021. The startups have grown since joining the portfolio, with new product launches, new clients, and improved operations to sustain revenue growth. This has allowed Accelerating Asia’s Revenue to grow by 332 percent with an estimated mean of over $16M this financial year.
Other investments into these startups apart from Accelerating Asia include investments from Cocoon Capital, the Indonesian Women Empowerment Fund (an initiative of Moonshot Global & YCab Ventures), Draper Startup House Ventures Fund, HH VC Investments, Startup Bangladesh, Impact Collective, and angels investors in Accelerating Asia’s fund.
“We’re excited to continue to invest in our portfolio companies as they grow alongside leading institutional investors. There is significant market and investor demand for the portfolio especially in digitization of transport and logistics networks with the industry at an inflection point in emerging economies like Bangladesh and Indonesia. With their fleet telematics solution and the founding team’s extensive industry experience, TransTRACK.id is well placed to capitalize on the growth of the freight and logistics market which is expected to be worth US$383B by 2023,” said Accelerating Asia General Partner Craig Bristol Dixon.
Accelerating Asia’s Fund II Cohort 6 Demo Day will be on June 30 for accredited investors looking to gain access to qualified deal flow and contribute to Accelerating Asia’s goal to build the best pre-Series A startups in the region.
Singapore-based Accelerating Asia announces fifth cohort with nine startups