Rising startups on Tech In Asia: on-demand jobs, business travel, and more

Which are the startups that are on the path to becoming the next big thing? In this regular post, we give you an overview of the companies that have raised money in the past week, as well as those we think investors should look at.

1. iFlytek (China)

iFlytek, a voice recognition solutions provider, secured US$407 million from a state-backed industry fund and several provincial government funds. The funds will go towards research in open platforms for smart speech, next-generation cognitive technology, and service robots. More info.

2. Hellobike (China)

Bike-sharing startup Hellobike is reportedly planning to raise US$400 million in an apparent bid to compete with ride-hailing giant Didi Chuxing. More info.

3. Near (Singapore)

Near, which provides a Software-as-a-Service (SaaS) solution for data-driven marketing, raised US$100 million in series D funding from Greater Pacific Capital. The company will use the funds to launch its new data products and expand its presence in strategic markets. More info.

4. Kopi Kenangan (Indonesia)

Edward Tirtanata started Kopi Kenangan when he observed that Indonesia didn’t have a large, affordable coffee chain for local tastes. The startup aims to become the biggest operator of coffee shops for the masses in Indonesia and now sells 1 million cups a month at around half the price of Starbucks drinks. More info.

5. EasyParcel (Malaysia)

EasyParcel, a courier marketplace, secured US$10.6 million in a series B round led by Gobi Partners with participation from AirAsia Teleport. The investment will enable the startup to scale its services and leverage Teleport’s logistics and infrastructure capabilities. More info.

6. SoCash (Singapore)

SoCash, a fintech startup that lets people withdraw cash from shops, raised US$6 million in a series B round led by money-handling systems maker Glory, with participation from SC Ventures and Vertex Ventures. SoCash will use the funds to expand its distribution network. More info.

7. Syfe (Singapore)

Digital wealth manager Syfe has officially launched in Singapore following a US$3.8 million seed funding round led by Unbound, with participation from individual investors. It has also acquired a Capital Markets Services license from the Monetary Authority of Singapore. More info.

8. Travelstop (Singapore)

Travelstop, a provider of SaaS business travel management solutions, raised US$3 million in a pre-series A round led by Accel Partners with participation from Strive (formerly Gree Ventures) and SeedPlus. The startup will use the funds for further development of its AI-driven technology and increase product adoption in Southeast Asia. More info.

9. GoGet (Malaysia)

GoGet, an on-demand job platform, received around US$24,300 in grant money for winning the United Nations Capital Development Fund B40 Challenge during MyFinTechWeek 2019. More info.

10. Luxiee (Singapore)

Luxiee, an online diamond marketplace, raised a six-figure seed funding amount. The investment was led by financier Kewee Kho, vice chairman of Roadbull Logistics and independent director of Courts Asia. The startup will use the funds for marketing and recruitment. More info.

11. Teabox (India)

Premium tea brand Teabox raised an undisclosed sum of investment from NB Ventures, with participation from the company’s existing investors. It plans to open three to five experiential stores in the next few months. More info.

12. Tribecar (Singapore)

Car-rental and car-sharing platform Tribecar covers more than 270 locations around Singapore. The company offers competitive pricing as a differentiator and is currently profitable. More info.

13. Gofleet (Indonesia)

Gofleet is an all-in mobility solution recently launched by Gojek and conglomerate Astra International. It will offer vehicle rental, maintenance, and insurance protection services. More info.

14. Niu Technologies (China)

Smart electric scooter maker Niu Technologies is pushing ahead with its US market expansion despite increased tariffs from the US-China trade war. The company is increasing its product prices for US buyers. More info.

15. Kuaishou (China)