Accelerating Asia to inject funding in 10 startups from second cohort

Singapore-based early-stage VC firm and startup accelerator Accelerating Asia has unveiled the 10 regional startups that form its second cohort.

Photo credit: Accelerating Asia

The startups hail from six countries including Australia, Bangladesh, Malaysia, Myanmar, Indonesia, and Singapore. As part of the program, they are set to receive S$100,000 (US$74,000) in growth funding each from Accelerating Asia’s venture arm, according to a statement.

The second cohort, which the firm said has collectively raised over S$2 million (about US$1.5 million) in funding ahead of the program, brings Accelerating Asia’s deals to 20 in the last six months, worth a total of S$2 million.

The startups that make up its second cohort are the following:

• Hellotask is an app-based platform that upskills domestic workers and connects them to employment opportunities.
• Ifarmer delivers financing for agriculture and farming by enabling secure investing for individuals and institutions.
• Izy.ai leverages mobile and machine learning technology to deliver concierge services that customize guest experience, digitize hotel services, and improve internal hotel productivity.
• Joni.ai is an AI-powered adaptive assessment platform that personalizes education and helps students to make sense of their learning data.
• Moovby is a car rental marketplace where travelers can rent vehicles from a community of local owners.
• Nitex connects businesses to streamlined overseas production and standardized apparel sourcing for remote buyers by providing transparency and process optimization.
• NumuWorld is an app that enables brands to reward customers who promote their business on social media.
• Priyoshop is an ecommerce platform enabling small-town micro entrepreneurs to sell a wide range of products to customers without having to invest in working capital stock and get access to affordable financing.
• Recyglo is a waste management platform that provides circular economy, zero waste management, traceability, monitoring, and analytics and recycling solutions in Southeast Asia.
• Romoni is a one-stop destination for women’s beauty and lifestyle needs and a credit facilitation platform for female entrepreneurs in Bangladesh.

The demo day will take place in May 2020.

Accelerating Asia is a partner of Enterpise Singapore’s Startup SG accelerator program.

Currency converted from SG dollar to US dollar: US$1 = S$1.35.