Accelerating Asia, a Singapore-based, early-stage venture capital investor, announced that it has backed 13 pre-Series A startups — nine new companies and four from its existing portfolio — in the sixth cohort of its flagship accelerator programme.
The nine new investments take Accelerating Asia’s portfolio to 52 startups that have raised a total of over $42 million, according to the announcement.
Cohort 6 startups have a market presence in more than 10 countries in Southeast Asia, South Asia, North America, and Europe and cover eight verticals, including proptech, marketplace, fintech, logistics, services, e-commerce, and healthtech.
Notably, the nine new startups include four female co-founded startups — Tokban, 60+, relay.club, and Markopolo.ai — all of which have a female Chief Operating Officer or Chief Executive Officer. Also, “80% of the new startups in its portfolio are addressing Sustainable Development Goals,” said Accelerating Asia.
Accelerating Asia general partner Amra Naidoo said the nine new portfolio startups were selected from 600 applicants. These “highly scalable” pre-Series A startups have positive impact in their respective operating markets.
New startups in Accelerating Asia’s Cohort 6
|Startup||Country||What it does|
|Fitscovery||Philippines||Fitness website for trainers and vendors|
|Godaam Tech||Pakistan||Marketplace for warehousing and ancilliary services|
|Markopolo.AI||Bangladesh||Martech SaaS platform|
|MedEasy||Bangladesh||Online pharmacy and digital health platform|
|Nu-Credits||US, UK, Europe, China||Trade finance platform|
|relay.club||China, Southeast Asia||Subscription SaaS-based platform|
|Stylemyle||USA||Online luxury fashion marketplace|
|Tokban||Indonesia||B2B platform for construction materials|
|60 Plus India||India||Technology platform for aged care|
“Our VC accelerator model ensures high potential founders have greater access to needed capital financing, mentoring, and skill sets to enhance their growth trajectory and quickly become leaders in their respective verticals while also lowering the overall risk for our investors at an early stage,” Naidoo added.
Aside from the new startups in its sixth cohort, Accelerating Asia also made follow-on investments into:
- Giftpack (Global), an all-in-one AI powered gifting platform;
- Numu (Global), a software management tool for influencer marketing campaigns;
- TransTRACK.ID (Indonesia), a fleet telematics solution provider; and
- Shuttle (Bangladesh), a B2C and B2B transport-tech company.
Cohort 6 is the second batch of investments that Accelerating Asia made through its latest vehicle, Accelerating Asia Fund II. The said fund deploys capital across Southeast Asia and South Asia pre-Series A startups.