Miguel Cordon · · 1 min readAccelerating Asia backs 10 new firms in latest cohort
Photo credit: Accelerating Asia
Singapore-based Accelerating Asia, an early-stage startup enabler, has backed 10 new startups through its flagship accelerator program.
The startups in Accelerating Asia’s eighth cohort operate in seven markets across Southeast Asia, South Asia, and the Middle East and North Africa. They span various sectors including education, ecommerce, logistics, insurtech, and agritech.
The 10 firms have collectively raised US$5.8 million and are earning over US$27,000 in average monthly revenue, according to a statement.
Accelerating Asia links investors, partners, and clients to startups in Asia and beyond. Since 2019, it has backed more than 100 founders from 70 firms. According to the company, these startups have an average of over US$285,000 in monthly revenue and an annualized revenue growth of 520%.
The portfolio firms have secured over US$63.8 million in total from investors such as Sequoia Capital, Cocoon Capital, MDI Ventures, Wavemaker Partners, and Indonesia Women Empowerment Fund.
See also: Recession Run: Kickstart Ventures to deploy more funding in 2023
Editing by Lorenzo Kyle Subido
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