The most prolific investors in Southeast Asia’s AI startups

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Hello readers,

I’ve always had a fascination with science fiction and the potential that AI holds for humanity on the road ahead. When I was at university, I took a class on science fiction and philosophy, and it was genuinely an eye-opening experience to learn about how our ideas about what the future holds reflects on the way we understand and conceive the world.

After joining Tech in Asia, I’ve come to learn about the more practical applications of AI. While the wondrous inventions of the sci-fi novels I’ve read seem like distant dreams, plenty of startups are using the technology to tackle real-world issues. Today, we’re taking a look at the investors who have backed companies in the AI space.

Today we look at,

• The notable investors in Southeast Asia’s AI startups
• What this Indian fintech firm is doing with its fresh funding
• Other newsy highlights, such as the tale of two Chinese tech giants: Pinduoduo reported a profit in Q3 2021, and Meituan has recorded its biggest quarterly loss since 2018

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Powering the growth of Southeast Asia’s AI startups

Image credit: Timmy Loen

In fields like AI and deep tech, having investor backing is crucial. After all, these are sectors that require huge amounts of investment in research and development, and it can take years for these solutions to come to market. As Southeast Asia’s AI startups come to the forefront, we take a look at the investors that have backed them in the last 24 months.

• In first place: Entrepreneur First comes out on top, having invested in 10 AI startups in the region. The latest additions to its portfolio include Waste Labs, which aims to improve waste collection efficiency, and Surge Analytics, which uses AI for the rapid prototyping of energy storage systems.

• Coming up next: In second place is Wavemaker Partners, which has backed seven companies. The venture capital firm looks for businesses that address huge market opportunities and create real value.

• A three-way tie: Antler, SGInnovate, and Seeds Capital are tied for third place, having invested in five companies each.

Read more: Series SEA: Who’s investing in the region’s AI startups?

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