Rising startups on Tech In Asia: sustainable food, motorcycle parts, 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. Abeja (Japan)

Artificial intelligence consulting company Abeja has raised a total of US$45.3 million in disclosed funding to date. The latest investment came from Google via a series C round in December 2018, making it one of the company’s rare investments in Japan. More info.

2. CoinFLEX (Hong Kong)

Coin Futures and Lending Exchange (CoinFLEX), a physically delivered cryptocurrency futures exchange, raised over US$10 million in funding this year, including investments from crypto investors Polychain Capital, NGC Ventures II, Divergence Digital Currency, as well as angel investor Roger Ver. It also announced the launching of its Market Making Program, which will pay out up to US$10 million for up to 10 qualifying market-making firms. More info.

3. The CareVoice (China)

Online health insurance startup The CareVoice secured series A funding worth “in the range of US$10 million.” It comes more than 18 months after raising US$2 million in seed funding. The fresh funds will go towards expanding into new markets as well as its range of products, among others. More info.

4.Uniphore (Indonesia)

Nine-month old startup Kedai Sayur, which digitizes vegetable hawkers in the country, raised US$4 million in a round led by East Ventures and joined by SMDV, Triputra Group, and Multi Persada. The investment will go towards growing its network of partner vegetable hawkers and retailers, bringing in more sources and suppliers, and further developing its technology. More info.

5. Everest Education (Vietnam)

Edtech company Everest Education raised US$4 million in a series B round led by Hong Kong private equity firm Hendale Capital, and joined by Viet Capital Ventures, Singapore-based family office Nullabor, as well as various existing investors. The funds will be used to fund the growth of its learning centers in a bid to gain a bigger foothold in the academic after-school segment. More info.

6. Abillionveg (Singapore)

A Singapore-based reviews and recommendations platform for vegan-friendly food, restaurants, and products, Abillionveg raised US$2 million in a seed round led by US-based 500 Startups, with participation from New York-based 1/0 Capital, Zurich-based Blue Horizon Group, Singapore-based Calibre Ventures, family offices across Asia and the US, as well as author and founder of nonprofit organization Room to Read John Wood. The company aims to help a billion people join the plant-based movement by 2030, as well as donate US$1 billion to support animal welfare causes. More info.

7. Ride Jakarta (Indonesia)

Fitness brand Ride Jakarta, which has changed its name to R Fitness, raised US$1.25 million in a pre-series A round. The investment was led by local venture capital firms Intudo Ventures, Agaeti Ventures, and Sinar Mas Digital Ventures, with participation from Sinar Mas Land, Centre Park, RHL Ventures, and East Ventures. The company plans to have five flagship studios across Jakarta by the end of the year. More info.

8. Ai Palette (Singapore)

Foodtech startup Ai Palette secured S$1.5 million (roughly US$1.1 million) in a seed round led by cross-border venture funding initiative Decacorn Capital, and joined by government-owned SGInnovate, Silicon Valley agritech-focused VC firm AgFunder, existing investor Entrepreneur First, and industry professionals from US and Swiss food brands. The funds will go towards growing key customer accounts through strengthening the capabilities of its platform. More info.

9. Belipart (Indonesia)

Motorcycle parts ecommerce startup Belipart secured an undisclosed sum of pre-seed funding from angel investors, who the company refers to as “strategic players” in the industry. The fresh funds have been used to test the market, and will continue to go towards building its team, products, and expanding its sales force. More info.

10. Terra (Singapore)

Blockchain startup Terra received an undisclosed amount of funding from Hong Kong blockchain investor HashKey Capital, an affiliate of fintech company HashKey Group, who will work together to bring blockchain-based payment solutions to ecommerce and retail businesses across Asia. More info.

11. Carigos (Singapore)

A wholly owned subsidiary of Changi Airport Group (CAG), Carigos offers a suite of services including ocean, air, land, and express transport, as well as warehousing and last-mile fulfillment. It currently receives an average of 200 quote requests a month, with a conversion rate of 20% to 25% for cross-border freight. More info.

12. Pulsifi (Singapore and Malaysia)

People analytics software company Pulsifi combines organizational psychology, predictive models, and machine learning to make hiring recommendations based on a mix of hard and soft skills. In just over a year, the startup has assisted organizations in screening tens of thousands of job applicants across seven countries in Asia/ More info.

13. Ally (India and the US)

Business execution management startup Ally secured US$8 million in series A funding led by venture capital firm Accel Partners India, with participation from US-based funds Founders Co-op and Vulcan Capital, as well as former Tiger Global Management private equity chief Lee Fixel. The investment will go towards scaling its product, engineering, sales, and marketing in both regions. More info.

14. Gitai (Japan)

Robotics startup Gitai raised about US$4.1 million from Spiral Ventures Japan, DBJ Capital, J-Power, and 500 Startups Japan (now Coral Capital). The new funds will be used for the development of its robots and the launching of a demo model on the International Space Station scheduled for 2020. More info.

15. Zhenrou (China)