Southeast Asia VC trends have seen a rise in investment in recent years, with more and more venture capital firms looking to invest in the region’s tech startups. In fact, early-stage VC trends demonstrate that the slowdown in startup investing is not as severe as initially feared, despite the uncertain economic climate the world is currently experiencing.
Here are the 5 upcoming tech events in Southeast Asia
According to the ASEAN Investment Report 2022, VC funds reached more than USD 66 billion by the middle of the year. The Southeast Asia tech startups scene drove the high growth of funding while increasing demand for technology and digital services in the region. The top 5 startups in Southeast Asia that are already on their way to making a big impact in the industry and attracting significant investments are:
Singaporean-based startup, WhyQ is a digital food delivery platform that makes it easier for SMEs to sell and grow online. The startup offers two products for its customers; one called eBiz allows small businesses to create their own online store, accept online payments and connect logistics services, while their other offering, Kira Kira, helps manage their finances, track daily transactions and provides access to low-interest loans from partner lenders.
Recently WhyQ received approximately an additional USD 1.08 million in a Series A2 extension round. Kairos Capital Group led the funding round, and other participants included Delivery Hero, Chope, Angel Central, and RB Investments. With this additional funding, WhyQ plans to expand its digitalisation platform, improve its existing products, and add more features to the EBiz app.
The Indonesian manufacturing hub marketplace, Imajin, is a B2B platform that connects local manufacturers with potential customers. The startup offers project financing for small business owners, a marketplace for raw materials, and a platform for project management. It also provides quality assurance services.
Imajin secured an undisclosed amount in a seed funding round led by East Ventures, followed by 500 Southeast Asia and Init 6 in late January 2023. The company will use the funding to expand its team, hire new staff, and develop its products. It also plans to accelerate the digitalisation of the manufacturing industry through new product development and future market expansions.
Another Singaporean-based fintech startup, Pilon, is a cloud-based platform that provides SMEs with a supply chain financing system in Southeast Asia. By signing up with Pilon, suppliers can access their owed invoices and select one or multiple invoices for early financing via their mobile app.
Pilon has secured a total of USD 5.2 million in a seed funding round led by Wavemaker Partners. Singapore’s family office Octave and investment firm Polaris Kin also participated in the round. The company plans to use the funds to expand into the Philippines and Cambodia, venture into Vietnam, Thailand or Indonesia within the next year, and improve its digital product offerings.
ZaynFi is a Singapore-based startup that aims to make it easier for users to stake stablecoins for high returns on the Binance Chain using DeFi(Decentralised Finance)protocol. It is working on launching a public beta phase exclusively for ZaynFi’s 88,000-strong Telegram Community members.
The startup recently received a strategic pre-seed investment led by Cur 8 Capital, UK-based Islamic Finance Guru, and an unnamed global VC known for investing in technology. With its focus on making DeFi accessible to new users and its compliance with shariah principles, ZaynFi is poised to play a significant role in the growth of the DeFi space in the region and beyond.
This Malaysian-based molecular diagnostics and genomics startup provides biosensor products and services for various industries, including healthcare, animal breeding, and environmental testing. Its platform technologies incorporate printed nano-coated sensors, DNA probes, aptamers (synthetic antibodies), and in-silico design and validation of new aptamers.
The company closed on a substantial sum of USD 5.7 million in a Series A investment round from Pembangunan Ekuiti, a local venture capital firm. With the recent funding, the company plans to invest in a medical-grade manufacturing facility, advance its technology portfolio, and expand its sales outreach in Southeast Asia and other parts of the world.
As the Southeast Asia tech startups sector continues to proliferate, investment levels will likely increase significantly in line with the growth. The Southeast Asia VC trends are predominantly driven by the high growth potential of the region’s tech startups and the increasing demand for technology and digital services in the area.
With more and more venture capital firms looking to invest in Southeast Asia’s flourishing tech and innovation scene, the region seems poised for even more technological advancements and new opportunities for entrepreneurs and investors alike. All this growth, optimism, and investment in ASEAN indicate that Southeast Asia is on its way to becoming one of the leading regions and hubs in the global technology industry.