10 Startups in Southeast Asia You Should Know About
The startup activity in Southeast Asia is currently booming with deals on track to hit record numbers in 2017. Over 500 deals are expected by the end of this year, following an impressive 2016 that resulted in 347 deals. Tech companies in Southeast Asia have raised a total of US$6.5 billion this year, a total that is already more than twice as much as last year. The region is seen as one that offers huge potential and opportunities for both entrepreneurs and venture capital firms.
Grab is one of the most prominent taxi booking and ride-sharing companies in Southeast Asia. The company recently raised the largest round within the region, a US$2B Series G in Q3 of this year. As of June, Grab had over 1 million drivers on their network and their app had been downloaded on over 45 million devices in the region.
MatahariMall is an Indonesia-based online e-commerce platform. Launched towards the end of 2015, MatahariMall had the vision to become the ‘Alibaba of Indonesia’. Growing rapidly, MatahariMall has found itself competing within an e-commerce sector that includes Lazada and Tokopedia.
MatariMall isn’t the only startup making headways in Indonesia. Launched in 2009, Tokopedia operates a marketplace that allows small retailers and big brands to sell to consumers in Indonesia. Such has been the success of Tokopedia that they raised $1.1 billion Series F from Alibaba Group in September this year.
PropertyGuru is Singapore’s largest property portal with over 1.3 million property listings. PropertyGuru CEO, Hari Krishnan, highlights the extent of their success across the Southeast Asia region, “We are a market leader in four of the five markets and the largest in the region by any measure whether traffic, total listings, revenues.”
iCarsClub provides a service that allows people to rent out their cars by the hour. Unlike other startups in the region, iCarsClub does not own or provide any of the cars. Car ownership is extremely expensive in Singapore and as a result only about 15 percent of Singaporeans own a car. That presented a huge opportunity for iCarsClub.
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