Accelerating Asia Announces Investments in 13 Startups, Including Tokban and TransTRACK.ID

Venture capitalist and early-stage startup accelerator Accelerating Asia announced its latest investment round. This time it saw 13 startups, including 9 new startups that joined the flagship Cohort 6 program. In addition, they also announced additional funds for 4 startups that have joined in the previous Cohort.

Of the 9 new startups, one of them is from Indonesia. Named Tokban, the startup gave birth to a B2B platform for construction materials, MRO, and other home renovation needs. Tokban helps building materials stores, hardware stores, and contractors access a wider variety of building materials at lower prices. As well as digitizing business connectivity processes.

Meanwhile, from the previous Cohort portfolio, from Indonesia which received support follow-on funding is TransTRACK.ID.

The latest investment brings Accelerating Asia's total portfolio of companies to 52 startups with a total funding of over $42 million. New investments in Cohort 6 also have market traction and growing revenues with an average GMV of $100K per month and an average regular monthly income of over $25K.

Still in the process of finalizing, startu[Cohort 6 Accelerating Asia will hold a Demo Day in June 2022. Startup Cohort 6 is present in more than 10 countries and covers 7 business verticals including proptech, marketplace, fintech, logistics, services, e-commerce, and healthtech.

“Since 2019, we have built our startup investment asset pool with investors who come to Accelerating Asia for early access to a startup network that combines profit with purpose,” said Accelerating Asia General Partner Amra Naidoo.

Accelerating Asia launches Fund II in 2021. Cohort 6 is the second wave of investment for Fund II that will deploy capital to pre-series A startups across Southeast and South Asia.

Focus on Indonesian and Bangladeshi startups

TransTRACK.ID is one of their leading startups from Indonesia. This startup was founded by two founder, namely Anggia Meisesari and Aris Pujud. Until now, there are almost 3000 users of the TransTRACK.ID system. The company can serve customers throughout Indonesia, with temporary service points located throughout Java, North Sumatra and South Sumatra. TransTRACK.ID focuses on B2B and B2B2C business models.

"With their fleet telematics solutions and the founding team's extensive industry experience, TransTRACK.ID is on track by successfully capturing a cargo and logistics market share that is expected to be worth US$383 billion by 2023," said General Partner Accelerating Asia Craig Bristol Dixon. .

In addition to investment from Accelerating Asia, these startups have raised funds from Cocoon Capital, the Indonesian Women's Empowerment Fund (an initiative of Moonshot Global & YCAB Ventures), Draper Startup House Ventures Fund, HH VC Investments, Startup Bangladesh, Impact Collective, and angels investors in Accelerating Asia funding.

In addition to focusing on startups in Indonesia, Accelerating Asia is also starting to look at startups from Bangladesh.

"Investors' interest in our pool of investment assets has increased since we first started investing in Bangladesh in 2019 as one of the world's leading venture capitalists. For example, Shuttle has successfully grown from its beginnings as a safe transportation solution for women to expanding its services to include B2B offerings for women. companies and other avenues.” added Craig.