Rising SE Asian startups: edtech, a Tesla for bikes, and a stablecoin

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. Topica Edtech Group (Vietnam)

With operations in the Philippines, Singapore, Thailand, and Vietnam, Topica has become a multinational online education provider. It offers Bachelor’s Degree programs, English speech tutoring courses, and a MOOC (massive online open courses) technology platform. More info.

2. Rate (Singapore)

Rate has launched the first Singapore dollar-backed stablecoin called SGDR (short for “Singapore dollar rate”). SGDR is “a 1:1 Singapore dollar-backed stablecoin, guaranteeing users full redeemability for Singapore dollars on demand,” More info.

3. EuroSports Technologies (Singapore)

Sometimes called Singapore’s ‘Tesla for motorcycles’, EuroSports Technologies specializes in the distribution of ultra-luxury and luxury automobiles and after-sales services. It will use the seed capital it recently raised to build an electric motorcycle. More info.

Amount raised: US$2 million

Investor: EuroSports Global

4. Novade (Singapore)

Novade develops software that automates the digitization of on-site paper-based processes in the construction industry. It operates across Europe and Asia-Pacific. More info.

Amount raised: Undisclosed

Investors: Wavemaker Partners, Seeds Capital

5. Spiking (Singapore)

Spiking is an app that uses AI to predict stock price trends on exchanges. It will soon apply the same prediction algorithm to cryptocurrency prices. More info.

Amount raised: US$2.2 million

See: Previous rising Southeast Asian startup lists