Rising startups on Tech in Asia: graphic design, smart gates, enterprise drones

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 that we think investors should look at.

1. Canva (Australia)

Australia-based online design platform Canva said it has secured an additional US$85 million in funding, which boosted its valuation to US$3.2 billion. The latest funding exercise follows Bond’s earlier investment in Canva in May, which more than doubled the unicorn’s valuation to US$2.5 billion at the time. The fresh funds will be used to double its workforce to 1,400 and support its new business called Canva for Enterprise. More info.

2. MyGate (India)

India-based startup MyGate has raised US$56 million in a series B round from Tencent Holdings, JS Capital, and Tiger Global Management. Launched in 2016, MyGate focuses on technologies that enhance security and convenience for residents in gated premises. With its solutions, residents can monitor entries and exits in their compounds, which are logged digitally. MyGate plans to use the fresh funds to develop new solutions and focus on increasing the efficiency of other stakeholders such as security personnel, local service providers, and ecommerce companies. More info.

3. Alodokter (Indonesia)

Indonesia-based healthcare startup Alodokter today announced its biggest ever investment – US$33 million, more than double the total it previously raised since launching in 2014. The injection will mainly go into augmenting the company’s online booking and insurance offerings, which are its two fastest-growing segments, as well as its expansion efforts in Indonesia and Thailand. Alodokter offers a trove of original medical advice content, bookings for hospitals and clinics, online consultations with doctors, and health insurance. More info.

4. Aerodyne (Malaysia)

Aerodyne Group, a drone-based enterprise solutions provider in Malaysia, has raised US$30 million in its series B investment round led by Intervest and Kejora Ventures. Other investors in the round include VentureTech, Gobi Partners, and 500 Startups. The new funds will be used to undertake select mergers and acquisitions, invest in research and development and technology, make new hires globally, and expand into key global markets such as Japan, India, the US, and the Middle East. More info.

5. Crimson Education (New Zealand)

Crimson Education, a global edtech firm based in New Zealand, bagged US$20 million in a series C round led by Hong Kong-based Chow Tai Fook Education Group. Founded in 2013, Crimson Education aims to help students get accepted into competitive universities by providing students access to its network of strategists, leadership mentors, and tutors to help them reach their goals. The company plans to use the fresh funds to add more resources to its network and expand its presence across Asia and globally.
More info.

6. Curiox (Singapore)

Singapore-based medtech firm Curiox Biosystems has raised US$15 million in funding from Korean biotech investors. Curiox is a spinoff company from the Agency for Science, Technology, and Research under the Ministry of Trade and Industry of Singapore. It develops bio instrumentation solutions for use in cell analysis and therapy in the pharmaceutical and biotech industries, and the funds will be used to extend the company’s global reach. The deal is backed by KB Investment, IMM Investment, Quad Investment, HB Investment, Dayli Investment, and SV Investment.
More info.

7. Mathpresso (South Korea)

South Korean edtech startup Mathpresso, the creator of AI-driven education app Qanda, has raised US$14.5 million in a series B round led by Legend Capital. Mathpresso’s Qanda app, which is currently available in Korean, Japanese, English, Vietnamese, and Indonesian, helps students search for solutions to math problems by taking a photo. It also enables them to ask questions directly to school tutors. More info.

8. Bewakoof (India)

Online direct-to-consumer fashion company Bewakoof has raised US$11.2 million in its latest round of funding from Bahrain-based alternative investment firm Investcorp. Founded in 2012, Bewakoof initially focused on apparel and mobile phone covers before branching out into more categories such as hoodies, sweaters, joggers, footwear, and notebooks. It plans to use the new funds to strengthen its platform and leverage on machine learning to improve customer experience. It also looks to invest in back-end tech and expand its offerings. More info.

9. Iconloop (South Korea)

South Korean blockchain company Iconloop has raised US$8.3 million in a series A funding round led by Korea Technology Finance Corporation, its first venture capital investment since its formation in 2016. Iconloop will use the new funds for the launch of its blockchain-based digital identity authentication service, my-ID, in the first half of 2020. It also looks to expand my-ID Alliance, which currently has 27 organizations and companies from various industries, to other sectors such as fintech, ecommerce, sharing economy, and health care. More info.

10. Mall91 (India)

Indian social commerce startup Mall91 has raised US$7.5 million in a series A round led by Go-Ventures, the investment arm of Indonesian ride-hailing unicorn Gojek. The company said it will use the fresh funds to become a one-stop shop for India’s internet users and expand internationally. It looks to drive business growth and augment product development, roadmap execution, and supply chain capabilities. More info.

11. Yummy Corp (Indonesia)

Indonesian online catering firm Yummy Corp raised US$7 million in a series A2 fundraise from venture capital firm Intudo Ventures. The fresh investment will be used to add kitchens, partners, clients, and customers. Yummy provides food solutions for corporate and group customers, offering catering, restaurant, and food and beverage management offerings, as well as customizable corporate-branded outlet services. It is an affiliate of Ismaya Group, a lifestyle F&B company with more than 70 outlets across Indonesia, Singapore, Shanghai, and Dubai. More info.

12. Fuse (Indonesia)

Fuse, an Indonesian insurtech company, has closed its series A round with “a couple of million” US dollars to help expand its presence in multiple cities in the country. The company aggregates more than 200 insurance products in partnership with 30 local and international insurance companies with operations in Indonesia through its app. With the new funds, Fuse looks to expand in eight major cities in Indonesia, including Jakarta, and increase its current partner base from 15,000 to 100,000 in 2020. More info.

13. StickEarn (Indonesia)

Jakarta-based StickEarn has raised US$5.5 million in funding to take its offline-to-online advertising platform to new verticals. StickEarn provides a range of measurable advertising solutions for transport as well as for indoor and outdoor settings. StickEarn said it will use the series A funds to hire talent and ramp up product development. Some of the capital will be used to create more complex, multichannel advertising campaigns for clients, while the startup will also look to provide more data-driven campaign reports and market insights in the future. More info.

14. Global Digital Payments (Singapore)

Global Digital Payments (GDP), a fintech startup based out of Singapore looking to serve small to mid-size enterprises, has raised US$1 million in seed funding from angel investors. Established earlier this year, the company seeks to improve cross-border financial transactions for businesses. It has developed two solutions using technologies such as blockchain, AI, big data analysis, and social innovation. More info.

15. Booqed (Hong Kong)

16. SalesCandy (Malaysia)

17. RoomMe (Indonesia)

18. Structo (Singapore)

19. Cricket One (Vietnam)

20. Appier (Japan)

21. Shopmatic (Singapore)

22. Finmas (Indonesia)

23. Strandbags (Australia)

24. Bookme (Pakistan)

25. Flower Chimp (Malaysia)