7 Stand-Out Startups in the Dynamic Asian Ecosystem

Roughly 305 million startups are founded each year across the world, but in a brutal ecosystem many don’t survive. There is, however, one large market that consistently produces innovative, promising start-ups that are reshaping industries and creating huge positive impact: the Asian start-up ecosystem. With $200 billion in total transaction value in 2022, this market provides boundless opportunities for investment.

Here are 7 startups that stand out:??

ShopUp

One of the most unique features of several Asian markets is the distribution of retail businesses in small neighbourhoods, servicing exclusively the consumers in that localised area. ShopUp , Bangladesh's leading full-stack B2B commerce platform for small businesses, aims to empower this section of small businesses to reach larger markets and flourish in a competitive environment through digitisation, working capital, and logistical infrastructure.? ShopUp has raised over $230 million in funding with major investments from Sequoia Capital, Prosus Ventures, and others.?????????????????????????????????

Recykal

Utilising AI, Recykal’s is working to solve India’s waste management issues, which recycle just 30% of the 3.4 million tonnes of annual plastic at present, by running recycling centres in areas that have low recycling rates due to the lack of accessibility. Recykal has raised $22 million in funding with backing from investors such as Circulate Capital and Morgan Stanley along with several other private investors.???????????????????????????????

Doctor Anywhere

The healthcare industry has always been plagued by a lack of direct connection between healthcare providers and healthcare seekers. Tackling this, Doctor Anywhere ’s goal is to bridge the gap by connecting care-seekers to healthcare providers through virtual consultations and same-day medication delivery. With over 2.5 million users in 6 countries, including Singapore, Malaysia, and Thailand, their impact is already colossal and set to expand even further following a total of $135 million of funding from international organizations.??

AZUL Energy

Japan, a country reliant on imported fossil fuels, is now looking elsewhere for energy solutions. AZUL Energy is part of this movement, producing non-platinum-based oxygen-based batteries to promote clean energy. Their low-carbon battery product specializes in catalyst technology to produce high-quality air battery-related products without rare earth metals which cut costs and increases accessibility. Since 2019, AZUL Energy has raised over $560k in funding in Seed Rounds with investors such as De Nora, Future Venture Capital, and Spurcle.??

Handprint

For decades now, businesses have viewed ESG as a target rather than a necessity, neglecting to put in the funds and effort required to produce tangible change in the face of global issues. Handprint takes on some of this effort, curating diverse impact projects within the regenerative economy such as habitat preservation and ocean cleanups. Projects can then be embedded into various parts of a business model, including payment processing and e-commerce tools. Founded in 2019, Handprint has raised $3M across 2 seed rounds with one of the biggest investors being Singtel Innov8 and Thunes.??

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Beewise

Bees are an integral part of our ecosystem that we depend on for survival, with 1/3 of food production relying on them. Yet, little is being done to preserve the declining industry.?Beewise has created the world’s first robotic beehive, Beehome, using automation to save the bees and improve yield through 24-hour care using solar-energy and AI technologies. Beewise has secured funding of $118 million from investors such as Insight Partners, Corner Ventures, and Fortissimo Capital.??

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Starfield

As China’s economy grows, there has been a significant rise in demand for animal products, leading to increased carbon emissions from their agricultural industries. Starfield presents a solution: producing plant-based proteins that are healthy, delicious, and sustainable. They already have a solid distribution network through partnerships with over 100 brands and B2C retail sales in over 40,000 stores and have raised $100 million in funding from investors to expand further.??

The often-overlooked Asian startup ecosystem provides endless opportunities for investment across all industries. The sector is rife with solution-oriented entrepreneurs with a strong social conscience – don’t miss out on the opportunities here. To learn more about the corporate innovation industry in this area, join GCV for GCV Asia: International Delegation across Tokyo and Seoul 6-10 November, 2023.

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