Rising startups on Tech in Asia: Major Korean love hotel chain looks at Southeast Asia

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. Yanolja (South Korea)

Yanolja raised a US$180 million round in series D funding from GIC and Booking Holdings earlier in 2019. The company is on a mission to integrate the fragmented hospitality industry. It operates over 1,200 hotels across the region and is most notably known for reinventing love hotels – short-term accommodation for couples seeking privacy – into an affordable accommodation option for travelers. It’s now ramping up in Southeast Asia via a majority stake in Zen Rooms. More info.

2. Cars24 (India)

Used car marketplace Cars24 has secured US$100 million in its series D round of funding, which included investments from new backers Unbound, a global investment firm headquartered in London, and New York-based investment firm Moore Strategic Ventures. Cars24 plans to use the new funds to expand its footprint to more cities in the country, build up a franchise model, and boost its recently announced consumer lending business. More info.

PrivyID (Indonesia)

PrivyID operates using an information security management system that has been officially acknowledged by the Indonesian government. The company has raised an undisclosed series A2 round from investors that includes Telkomsel Mitra Inovasi (TMI). It seeks to build a platform that is capable of moving the identity verification service market and to provide a more effective and integrated platform for consumers. More info.

3. Hatcher+ (Singapore)

Singapore-based venture investment firm Hatcher+ said that it has raised US$5.5 million in its seed funding round. Through its H+ platform, the company constructs and manages large and diversified venture portfolios through AI-driven predictive analysis. It claims to have analyzed over 10,500 business plans over the past year on behalf of accelerators and VC funds around the world. The firm plans to use the fresh funds to develop the predictive analytics engine and business process automation capabilities of its platform. More info.

4. Moov Technology (Singapore)

Singapore’s Land Transport Authority (LTA) has granted in-principle approval for bike-sharing firm Moov Technology to operate a fleet of up to 10,000 bikes. The smart mobility company applied for the full license earlier this year. At the time, it was operating about 1,000 bikes in the western part of the city-state, in places such as Boon Lay and Pioneer, under a sandbox license. With a full license, Moov will now be able to operate in public areas for two years. More info.

5. BeMyGuest (Singapore)

BeMyGuest focuses on connecting tours and activities operators with distribution partners, including some of the largest OTAs in Asia like Ctrip, Ticket Monster, Tink Labs, Yatra, Tuniu, Alitrip, and Travel.jp. XPlore, their newest feature, is a product targeted at Asian travel activity operators that can be directly integrated into a user’s website. In July 2019 they announced an undisclosed amount of series B funding “largely from internal stakeholders” to drive continued development in its Asian home market. More info.

6. Healofy (India)

Hiro Mashita-led Japanese investment firm M&S Partners has invested in Healofy, India’s largest and fastest-growing Women Social Network. Healofy connects millions of women across different stages of life – from getting married to becoming a mother and beyond. Having started as a pregnancy and parenting community in 2016, Healofy seeks to empower women by enabling them to consume relatable information, create content, and showcase their skill sets. Prior to this, the Bangalore-based startup has raised US$9.5 million from Omidyar Network India, BabyTree Group, BAce Capital – a fund backed by Alibaba’s Ant Financial Services Group – and angel investors.

7. Edukasyon.ph (Philippines)

Edukasyon.ph, an edtech platform in the Philippines, has secured an undisclosed amount of financing with the first close of its series A round. The funds will allow the company to deepen its focus on product development and create more meaningful and measurable engagement with each user. The platform reportedly attracts 10 million annual visitors to its platforms by offering access to senior high schools, colleges and universities, scholarships, online courses, and other resources. More info.

8. Delishop.Asia (Cambodia)

Phnom Penh-based venture capital firm Obor Capital Co Ltd announced an early-stage equity fundraising deal with online supermarket platform Delishop.Asia. Obor Capital’s investment includes an injection of fresh capital and the acquisition of Delishop.Asia’s secondary shares. The platform provides and delivers cosmetics and other consumer goods, and the funds will be utilized to develop a more user-centric and scalable web portal, as well as Android and iOS apps, which are scheduled to be launched by the end of the year.

9. Instacar (India)

Outstation cab aggregator InstaCar has raised an undisclosed amount of funding from Techstars co-founder David Cohen, who had previously invested in the US-based ride-hailing service Uber. In 2016 InstaCar secured US$1 million in seed funding from Hong Kong-based Swastika Co Ltd. InstaCar was one of the 10 companies shortlisted in Colorado-based Techstars’ second accelerator program held in Bengaluru this year.

10. Franksmile (Berlin)

Founded with a mission to deliver straighter and visibly confident smiles without lengthy office visits or unreasonable prices, Franksmile seeks to eliminate the need for expensive dental visits by offering the same professional orthodontic supervision found in-office through remote tele-dentistry – from treatment to aftercare. Customers in Singapore are now able to book a free in-person appointment at one of the many partner clinics where a certified dental assistant will take a digital scan of their smile. Tracxn and Rocket Internet are investors.

Want to catch up on previous lists? You can do so here.