<article>Asia-Pacific tech unicorns and startups have been attracting investment at a faster pace, with the Chinese mainland retaining the top spot even as Southeast Asia catches up, a recent report shows.</article>

Asia-Pacific tech unicorns and startups have been attracting investment at a faster pace, with the Chinese mainland retaining the top spot even as Southeast Asia catches up, a recent report shows.
Private investment in tech surged by two-thirds to $193 billion in 2021 in the Asia-Pacific, the highest on record, according to a report issued by accounting firm KPMG and banking giant HSBC Holdings PLC. The number of tech unicorns — startups valued at over $1 billion — in the region rose 25% year-on-year to over 450 in 2021.
The report also examined 6,472 technology-focused startups with valuations of up to $500 million across 12 Asia-Pacific markets, and identified 10 leading companies in each market.
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“Emerging Giants — fast-growing, influential and innovative startups with unicorn ambitions — are a leading indicator of the Asia Pacific’s growth trajectory,” KPMG said in a press release on the report this week. It cited an IMF prediction that the region’s emerging markets and developing economies will grow 20% faster than the global average this year and next.
The Chinese mainland both had the most unicorns and the most “emerging giants” in the region last year, accounting for 32.8% of the emerging giants. India ranked second with a 30.1% share.
The combined valuation of the top 10 emerging giants on the Chinese mainland was $5 billion last year, the highest of any of the 12 markets. BioMind, an artificial intelligence firm; Hipac.cn, an ecommerce platform; and HuoMao TV, an e-sports platform, were the largest on the list.
Fintech remained a land of milk and honey for startups, as nonfungible tokens (NFTs) and decentralized finance — both based on blockchain technology — were the two most popular areas for investment, according to the report.
While crypto trading is banned on the Chinese mainland, crypto transactions across the region surged eightfold in 2021, creating two new unicorns — Amber Group in Hong Kong and Singapore’s Matrixport. Vietnamese NFT game developer Sky Mavis and South Korean digital asset exchange owner Dunamu are among other emerging blockchain players.
In Southeast Asia, Singapore took the lead in tech innovation. “Over 9,300 start-ups and 12 unicorns currently call Singapore home — this is the highest total of any country in Southeast Asia. Correspondingly, we can expect the entrepreneurial impact of these enterprises to be significant in catalyzing innovation here,” said KPMG Singapore Managing Partner Ong Pang Thye.
This story was first published on <a href="https://www.caixinglobal.com/2022-07-22/investment-into-asia-pacific-tech-startups-accelerated-last-year-report-shows-101916705.html">Caixin Global</a>.
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Private investment in tech surged by two-thirds to $193 billion in 2021 in the Asia-Pacific, the highest on record.

Tech startups in Asia Pacific attracting funds at faster pace: KPMG-HSBC report

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Tech startups in Asia Pacific attracting funds at faster pace: KPMG-HSBC report

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