Rising startups: rare Taiwanese AI firm, co-working is still hot, 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 that we think investors should look at.

1. Appier (Taiwan)

AI startup Appier announced it has raised US$80 million in a series D round to fuel its global expansion plans. The round pushes Appier’s total funding to US$162 million. Established in 2012, Appier helps businesses solve problems through its AI-based solutions. Aside from its worldwide expansion, the company will also use the new capital injection to attract global talent, further develop and scale its product suite, and explore new industries beyond digital marketing. More info.

2. JustCo (Singapore)

Co-working space operator JustCo has secured a total of US$74 million from Japan’s Daito Trust Construction. According to a statement, the construction and real estate company will invest US$50 million in JustCo and US$24 million to form a joint venture with the co-working company. The move, which enables JustCo to enter the Japanese market, is part of Daito Trust’s strategy to develop a comprehensive leasing and lifestyle business, according to a statement. More info.

3. 2C2P (Singapore)

Payments platform 2C2P has secured US$52 million in new funding from an international group of investors, including IFC, Cento Ventures, and Arbor Ventures. Founded in 2003, 2C2P offers a number of payment solutions catered to the needs of ecommerce merchants, regional airlines, global retailers, banks, and other financial institutions. The Singapore- and Bangkok-based company plans to use the fresh funds to enhance its payments platform, hire local talent, and consolidate market share in Southeast Asia as it looks to expand outside of the region over the next year. More info.

4. Shuttl (India)

Bus aggregator Shuttl said it has raised US$36 million so far in its ongoing series C round, which included participation from Toyota Group’s trading arm, Toyota Tsusho Corporation, and Sparx Group through Mirai Creation Fund II. Shuttl plans to use the fresh funds to further expand within and beyond its existing markets of Delhi-NCR, Kolkata, Hyderabad, Pune, Mumbai, and Chennai. Founded in 2015, the Gurugram-based startup provides an app-based shuttle service that allows its users to book bus seats and choose pick-up and drop-off points. It claims to operate roughly 2,000 buses, serving over 100,000 rides daily on over 350 routes. More info.

5. Zenyum (Singapore)

Dental startup Zenyum has raised US$13.6 million in series A funding from RTP Global, Sequoia India, TNB Aura, and Enterprise Singapore’s Seeds Capital, among other investors. Zenyum plans to use the fresh funds to fuel its expansion plans to markets like Vietnam, Indonesia, and Taiwan. Founded in 2018, Zenyum aims to make invisible dental braces more accessible in Asia. Through its technology, it provides 3D-printed braces and offers cosmetic dental treatment. Its app serves as a touchpoint between doctors, Zenyum’s in-house orthodontists, and customers, saving chair time in clinics. More info.

6. Tookitaki (Singapore)

Tookitaki, a regtech startup, has raised an additional US$11.7 million, bringing the total size of its series A fundraise to US$19.2 million. Founded in 2014, Tookitaki builds AI regulatory compliance solutions for the financial services industry. The additional funding will allow Tookitaki to further develop its product offerings and invest more in its global expansion efforts, with the US and Asia Pacific as priority markets. It also plans to make more tech and business hires in its offices in Singapore, India, and the US. More info.

7. Ministry of Movement (Singapore)

Smart mobility startup Ministry of Movement has closed a US$10.1 million series A funding round led by The University of Tokyo Edge Capital 4 Limited Partnership to grow and expand overseas. Ministry of Movement is the entity behind Swat, an on-demand transport startup. The company currently provides employee transportation services for large corporations and industrial parks. With the new funds, Swat said it will launch projects in Japan, China, the Philippines, and Indonesia by the first half of next year. The investment will also allow the company to expand to new business verticals and support the growth of its commercial operations by bolstering its tech, data, and engineering teams. More info.

8. Osome (Singapore)

Osome, an AI-backed business services provider that aims to digitize the corporate management industry, has raised US$3 million in a round led by international VC firm Target Global. The company plans to use the new funds to extend the reach of its platform to the UK and Hong Kong. It said it has already started testing the two new markets. Launched in 2018, Osome provides accounting, reporting, company formation, and other business management services to small and medium-sized enterprises through its AI-enabled platform. More info.

9. SG Bike (Singapore)

SG Bike says it is the country’s largest bike-sharing operator after completing its acquisition of Mobike’s local fleet. As a result of the over S$2.5 million (almost US$1.9 million) deal, SG Bike has boosted its fleet to 25,000 dockless shared bicycles. From today, its users will be able to unlock Mobike two-wheelers using the SG Bike app, while users of the Mobike app will be able to transfer any remaining credit and ride passes to SG Bike by signing up for the service. Following the deal, the Mobike app will become defunct. More info.

10. Amartha (Indonesia)

Peer-to-peer lending startup Amartha has raised an undisclosed amount of series B funding in a round led by Line Ventures, the venture capital arm of global messaging app Line. The fintech startup plans to use the new funds to extend its reach to more women and families in villages across Indonesia. According to the head exec, Amartha has lent US$113 million to over 343,000 users across 5,200 villages in Java and Sulawesi to date. Amartha, founded in 2010, connects micro, small, and medium-sized enterprises to potential lenders. More info.

11. Cloudbreakr (Hong Kong)

Media analytics platform Cloudbreakr has raised over HK$10 million (about US$1.28 million) in a pre-series A round led by Hong Kong X Technology Fund. Established in 2015, Cloudbreakr uses an AI-driven big data analytics software to capture data on hot topics to help its clients form appropriate strategies and partnerships with brands and influencers. The new funds will be used to further improve the capacity of its platform’s big data analysis process, build a social media and content analysis software, and develop AI-powered influencer marketing tools. The company is also eyeing business expansion in countries such as Thailand, Malaysia, Singapore, and Indonesia. More info.

12. Infofed (Thailand)

Infofed has received an undisclosed amount of funds in a pre-series A round from Japanese gaming media company GameWith. It operates eArena, an online platform for professional gamers to generate and manage content and organize competitive gaming matches. The company also hosts events and tournaments through its offline platform, the US$1.5 million Thailand eSports Arena. The startup plans to use the new funds to expand its presence in Southeast Asia. It is set to enter Myanmar, Laos, and Cambodia in 2020. More info.

13. Gmedes (Singapore)

Healthtech startup Gmedes has raised an undisclosed amount of pre-series A funding in a round led by 500 Startups’ Southeast Asia funds, 500 Durians, and 500 Tuk Tuks. Claiming to be the world’s first global e-pharmacy delivery service, Gmedes has developed the G-Meds app, which takes care of both the front-end and back-end compliant processes, including delivery, customs clearing, logistics tracking, and import taxes related to international medication order and delivery. It plans to use the new funds to establish partnerships to implement the G-Meds service for medical institutions across Singapore, Indonesia, China, Malaysia, the Philippines, and Indochina. More info.

14. Lynk (Hong Kong)

Startup Lynk has raised an undisclosed sum in a funding round that included Singapore’s MassMutual Ventures Southeast Asia, Alibaba Entrepreneurs Fund, and Wavemaker Partners. The company acts as a “knowledge-as-a-service” company that allows its users to access expertise and insights from advisors to help them enter new markets, analyze business risks, and evaluate opportunities. It uses natural language processing, conversational AI analytics, and machine learning to scale its services, without eliminating human interaction. Lynk plans to further expand its reach and open a new office in Toronto this year. It currently operates in New York, Singapore, Mumbai, and Shanghai. More info.

15. Axinan (Singapore)

16. Tourplus Technology (Malaysia)

17. ADBRO (Singapore)

18. Society Pass (Vietnam)

---

19. Affle (Singapore)

20. Aqilliz (Singapore)

21. Bluezelle (Singapore)

22. Dimuto (Singapore)

23. Eximchain (Singapore)

24. Pilab (South Korea)

25. Torus (Singapore)

26. WhiteCoat (Singapore)

---

27. Telopod (Singapore)

28. Matters (Hong Kong)

29. Beseye (Taiwan)

30. Self Token (Taiwan)

31. Arical (Hong Kong)

32. Fourcons (Indonesia)

33. OnGrad (Hong Kong)

34. KaChick (Hong Kong)

35. Dent&Co (Taiwan)

36. Fluv (Singapore)

37. Mellow (Hong Kong)

38. Dapp Pocket (Taiwan)

39. Portto (Taiwan)

40. Whoopee Robot (Taiwan)