Rising startups on Tech in Asia: cloud kitchen restaurants, an HR tech platform, 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. Rebel Foods (India)

Cloud kitchen brand Rebel Foods is currently raising US$125 million for its Series D round of funding. City Storage Systems, the real estate company of Uber co-founder and former CEO Travis Kalanick has bought a small stake in the startup company. Other investors in the ongoing fundraising round include Cotau Management, Sequoia Capital, and Gojek. More info.

2. Darwinnbox (India)

HR tech platform Darwinbox has secured US$15 million in series B investment in a deal led by Sequoia India, with participation from existing investors Lightspeed India Partners, Endiya Partners, and 3one4 Capital. This brings the company’s total disclosed funding to US$19 million after it raised US$4 million series A round in 2017. More info.

3. WhistleDrive (India)

WhistleDrive is a startup that offers employee transportation solutions. It has raised about US$10 million from US-based Colosseum Group as part of its series B round. With the new funds, the startup aims to enter two new cities within the next 12 months. More info.

4. Akseleran (Indonesia)

The peer-to-peer lending platform has reportedly raised US$8.5 million in a series A funding round involving a number of investors, including Access Ventures. This follows a US$2.5 million pre-series A funding round from undisclosed banks and investors last February 2019. More info.

5. Digi-Prex (India)

Digi-Prex is an online subscription pharmacy that has just secured US$5.5 million in a seed funding round to expand its business to 10 cities across the country. The investors in the round include Y Combinator, Khosla Ventures, Vedanta Capital, Quiet Capital, Liquid2 Ventures, Soma Capital, PioneerFund, and Tinder founder Justin Mateen. More info.

6. PayMongo (Philippines)

Fintech startup PayMongo has secured a US$2.7 million investment for its seed round from top Silicon Valley investors, including Founders Fund, Stripe, PayPal co-founder Peter Thiel, Y Combinator, Global Founders Capital, Soma Capital, Tinder co-founder Justin Mateen, and a number of other angel investors. This will allow PayMongo to grow the team, accelerate product development, acquire businesses more aggressively, and close down many strategic partnerships. More info.

7. Cove (Singapore)

The co-living startup has raised over US$2 million in a seed round led by Venturra, Yuj Ventures, Investigate, and Picus Capital. Local venture capital firms Aetius Capital and Found Ventures also participated in the round alongside some strategic angel investors. With the investment, Cove plans to expand its presence in Southeast Asia and further build out its technology. More info.

8. BuyMed (Vietnam)

BuyMed is the startup behind pharma distribution marketplace Thuocsi.vn and it has secured US$500,000 in a seed funding round led by Singapore’s Cocoon Capital and local VietCapital Ventures. The company is planning to develop a country-wide logistics network to make deliveries more cost-effective even in the healthcare centers in Vietnam’s remote villages. More info.

9. Cumi (Indonesia)

Rental marketplace Cumi has raised an undisclosed amount of seed funding from East Ventures to speed up its growth in the country. First launched in 2018, Cumi’s platform aggregated vendors from 12 categories, including automotive, fashion, pocket wifi, cameras, toys, books, and gadgets among others. More info.

10. Istox (Singapore)

Capital markets platform Istox has raised an undisclosed amount of investment in a series A round led by Thai investment bank Kiatnakin Phatra Financial Group (KKP). The deal was done through Phatra Capital, KKP’s capital markets arm. As part of the deal, Istox and KKP will work together on market education and outreach initiatives to “facilitate better understanding of the benefits digitized assets can bring.” More info.

11. Investree (Indonesia)

Fintech peer-to-peer lending startup PT Investree Radhika Jaya is in talks with several investors to raise a series C funding as the firm looks to boost its expansion in Southeast Asia. The funding is also aimed at supporting its business in Indonesia, Thailand, and Vietnam. More info.

12. Shenzhen Yuejiang Technology (China)

Shenzhen Yuejiang Technology is a four-year-old startup that focuses on the development of smart robotic arms. Its products can be put to a variety of uses depending on the end attachment used, from writing calligraphy to putting butter on your toast. The company started as a project on American crowdfunding platform Kickstarter, raising US$620,000 in just 50 days. It has since raised 100 million yuan (US$14 million) in its latest funding round last year. More info.

13. Ryde (Singapore)

Ryde is a homegrown ride-hailing startup that just announced it will be adding over 3,000 cabs to its platform through collaborations with local taxi company Trans-Cab. The partnership will kick off on October 1 this year and will give Ryde a fleet of more than 25,000 drivers on its platform in the city-state, which includes private cars, private hire cars, and taxis. It will also allow Trans-Cab drivers to access additional earning opportunities through bookings on its app. More info.

14. AIM Biotech (Singapore)

AIM Biotech is a startup that produces organs-on-a-chip (OOCs), which are “living, three-dimensional cross-sections of major functional units of whole living organs.” These OOCs enables extensive study and testing by mimicking organ functions and specific human disease states. AIM Biotech is the only OOC maker in Asia and it raised its series A round last August. More info.