Accelerating Asia Announces 11 Fourth Cohort Startup, One Startup from Indonesia

Accelerating Asia, a venture capital firm and accelerator for pre-series A startups, announced the 11 startups that entered cohort fourth. They are spread from four countries, namely Singapore, Indonesia, Pakistan and Bangladesh. There is one local startup that passed in batch this time, namely TransTrack.ID.

Accelerating Asia Co-Founder & General Partner Amra Naidoo said, on the program cohort The 4th edition has selected 500 startups from 30 countries. “With only 2% of startups selected, the 11 startups will be part of the cohort We are the largest and are entitled to receive investments of up to 200 Singapore dollars (worth more than 2 billion Rupiah) from our venture capital fund,” he said, Tuesday (13/4).

The names of the 11 startups are Amar Lab, Casa Mia, DoctorKoi, Drive Lah, HandyMama, Independents, KopiDate, Mobiliti, SWAP, Waitrr, and TransTRACK.ID.

In further detail, these 11 startups have raised more than S$6 million in capital since the start of the program, bringing the total capital raised from the entire Accelerating Asia startup portfolio to more than S$30 million. Around 70% of this investment has been raised since joining the Accelerating Asia portfolio.

Within one month since cohort From the fourth start, startups have recorded a 25% increase in monthly revenue, up from an average of 45 thousand Singapore dollars to 56 thousand Singapore dollars. Its growth rate has also doubled since joining, with an average growth of 30% month to month, from the previous 16%.

All of these startups cover 10 business verticals which include property, online dating, and marketing/advertising. When totaled with the entire portfolio, it now includes more than 20 verticals engaged in B2B, B2C, and B2B2C businesses. As many as 35% of startups were founded by women and 60% gender lens investing (gender-based investment), with more than 80% focused on supporting the United Nations Sustainable Development Goals program.

The only local startup that passed in cohort this is TransTRACK.ID. They focus on collecting data to track, analyze, and improve transport operations. The founding team is solid with deep experience in the same industry. The startup's annual revenue is claimed to have more than doubled and increased by 130% since March 2020. Prior to joining Accelerating Asia, TransTRACK.ID was among the selected participants in the DSLaunchpad 2.0.

Accelerating Asia Co-Founder & General Partner Craig Dixon added, on cohort this time his party made a number of adjustments to stay in line with the pandemic conditions, such as looking at startups that have good potential. One of them is reflected in Amar Lab and Waitrr who have benefited from the dynamics market who have been badly affected by Covid-19.

“They are well positioned for long-term growth as the health and hospitality global companies continue to accelerate their digitization efforts in the form of remote services and mobile devices, "He said.

Accelerating Asia offers its investors early and exclusive access to its startup portfolio, providing deal-flow qualified, pro-rated rights, and first option for eligible investments and will continue in the second quarter of 2021, until the venture capital accelerator expands partnerships and investment opportunities.

Going forward, the company plans to expand its presence, developing a larger footprint in various markets through recruitment cohort and partnerships with governments and investors. To support the startup ecosystem, Accelerating Asia offers the Amplify program, a virtual accelerator program with six modules that gives startups access to a top-tier network to grow their business.

In addition, another program is Angel350, a program angel investing virtual platform that provides investors with a step-by-step guide to investing in the region. Program highlight cohort The 4th is online Demo Day on June 17, 2021, and registration for cohort 5 has been opened.