Rising startups on Tech in Asia: internet-connected cars, SaaS for workspaces, 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. Xpeng Motors (China)

Chinese electric vehicle startup Xpeng Motors announced that it has raised US$400 million in series C funding from a group of strategic investors, including consumer electronics giant Xiaomi.

The company designs and manufactures vehicles that are integrated with the internet, leveraging the latest advances in AI, and remains committed to investing in core in-house technologies, smart manufacturing, and sales and service capabilities amid market uncertainties. More info.

2. Smarten Spaces (Singapore)

Singapore-based Smarten Spaces, a software-as-a-service startup providing solutions for workspace management in commercial and industrial properties, has raised US$12 million in a series A round led by Hong Kong’s Symphony International Holdings. Smarten Spaces offers an end-to-end AI platform that aims to digitize spaces and increase space utilization for commercial properties, enterprises, co-working, co-living, and warehousing. More info.

3. Silent Eight (Singapore)

Singapore-based startup Silent Eight, which uses AI to help financial institutions manage their compliance and risk obligations, has raised US$6.2 million in a series A round led by existing investor Wavemaker Partners. Silent Eight plans to use the fresh capital to make new hires for its offices in Singapore, Warsaw, London, and New York. It is planning to double its headcount by the end of Q1 2020, according to a statement.

The startup, founded in 2013, operates an AI-backed system that learns how to conduct investigations and can help weed out money laundering and terrorist financing. More info.

4. Simsim (India)

Social commerce startup Simsim has raised roughly US$6 million in a seed round led by Accel India and Shunwei Capital through Astrent IV India. Following the deal, Accel and Shunwei now each have a 12.5% stake in Simsim, while Good Capital holds 13.69% equity. Rounding out the seed round are angel investors Sunil Kalra and Samarth Bedi, who each invested about US$28,000 in the startup.

The startup is building a horizontal ecommerce platform that keeps the Indian consumers’ need for solutions in local languages in mind. To do this, Simsim enables opinion leaders and influencers to sell products to its users, mixing content and commerce. More info.

5. Workmate (Singapore)

Singapore-headquartered Workmate (formerly Helpster), which connects blue-collar workers with employers in Southeast Asia, has raised US$5.2 million in a series A round led by early-stage VC fund Atlas Ventures. Workmate plans to use the new funds to boost investment in sales, expand its tech team, and extend its reach into new cities. The series A round brought the startup’s total funding to US$10 million, Workmate said in a statement. More info.

6. Mapxus (Hong Kong)

Hong Kong-based VC fund Beyond Ventures announced that it is leading a US$3 million investment round for local indoor mapping tech provider Mapxus. Mapxus uses universal multi-sensing, positioning, and AI to generate indoor maps. It works with various industry sectors, government bodies, non-governmental organizations, and social enterprises. Mapxus plans to use the new funds for research and development, sales, marketing, and operational functions. It also looks to extend its services into Singapore, Japan, Taiwan, Thailand, Malaysia, and the Philippines. More info.

7. Giftano (Singapore)

Singapore-based gift card company Giftano closed a S$1.15 million (US$845,000) seed funding round from a group of angel investors to expand its business. The startup, founded in 2014, operates an online gift card platform that serves both business-to-consumer and business-to-business markets. Giftano plans to use the new funds to expand its product offerings, further improve its platform, and drive growth in its B2C business. [More info.] (https://www.techinasia.com/giftano-845k-seed-funding)

8. Carnot Innovations (Hong Kong)

Hong Kong-based proptech company Carnot Innovations has secured US$800,000 in seed funding from 500 Startups’ Southeast Asia-focused fund 500 Durians, MTZ holdings, and Entrepreneur First. The new investment follows a HK$450,000 (US$57,500) pre-seed raise earlier this year from Entrepreneur First, which helped the startup launch its business and set up a headquarters in Hong Kong.

Carnot provides AI-powered analytics software for commercial buildings. It uses machine learning algorithms to predict failures in heating, ventilation, and air conditioning (HVAC) equipment, and plans to use the new funds to expand its solution across Asia Pacific while building a strong in-house team. More info.

9. SuperGaming (Singapore)

SuperGaming is a social gaming platform for casual games that seeks to capture a more inclusive audience than traditional online video games. The company hopes to become a party hub centered around casual games, which they believe are played by a much larger audience to the tune of billions. Established in 2019, it is headquartered in Singapore with a development office in Pune. The platform recently raised $1.3M seed from Dream Incubator, AET (venture arm of Akatsuki) and Better Capital. It will use the funds to build its social platform, partner with other popular games, and expand its team.

10. eBikeGO (India)

eBikeGO, an electric and environmentally-friendly two-wheeler rental startup, has raised $300,000 as part of its recent funding round led by Startup Buddy. The round also saw participation from other investors like Singer Sukhbir Singh, Rajesh Sawhney (Co-Founder of Innerchef), Rohit Chanana (Founder, Sarcha Advisory), Siddartha Ahluwalia (Founder of 100x Entrepreneur), Boudhik Ventures, Milind Garud, Arun Gholap, Shantanu Vinekar and other senior corporate executives. Based in Amritsar, the company seeks to expand to four other cities: Mumbai, Bangalore, Hyderabad, and Pune. They are also working to expand the service network in different parts of the city.

11. Eko.AI (Singapore)

12. Grower Agritech (Singapore)

13. Wavescan Technologies (Singapore)

14. EcoWorth Tech (Singapore)

15. Datature Analytics (Singapore)

16. Ible Technology (Taiwan)

17. Breathonix (Singapore)

18. CredoLab (Singapore)