Accelerating Asia Ventures announces investments in 8 high-growth startups.

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  • Accelerating Asia Ventures, an international VC accelerator focused on post-revenue, pre-Series A startups, has invested in 8 companies as part of its landmark 9th cohort, including initial investments in two new markets, Sri Lanka and Japan.
  • Cohort 9’s startups are on a fast upward trajectory, averaging US$65k in monthly revenue and growing monthly at 18.25%. 
  • Since 2019, Accelerating Asia has invested in over 80 startups, making it one of the most active investors into pre-Series A startups in Southeast and South Asia.
  • Accelerating Asia’s Fund 2, launched at the end of 2021 invests in pre-Series A investments in Southeast Asia and South Asia.

SINGAPORE, 8 November 2023 - International early-stage VC fund Accelerating Asia Ventures has announced its latest investment into eight new companies joining Cohort 9 of its flagship accelerator program. In spite of the post-pandemic economic downturn, Cohort 9 startups have achieved significant market traction. Collectively, the 8 startups boast an average monthly revenue of US$65,000 and a growth rate of 18.25%, more than double of the global average of 9.01%.  

According to Co-Founder and General Partner Craig Dixon, this growth momentum and cash generation is what distinguished the 8 startups from other applicants throughout the multi-stage selection process.

“The cohort 9 startups embody the Accelerating Asia Ventures philosophy: A company should generate revenue and growth based on the high value that it provides to its customers. These companies are poised for growth in a challenging environment and their early success points to high value appreciation in the future. Any investor would be proud to be a part of their journey,” said Dixon.

Together with Co-Founder and General Partner Amra Naidoo, Dixon has made over 100 investments that routinely get follow-on investments from the likes of Sequoia Capital, Cocoon Capital, MDI Ventures, Wavemaker Partners, Comfort DelGro, and other top individual and institutional investors. 

Dixon added that backing these founders at a time when venture capital is scarce benefits both parties. Founders get a capital infusion that is founder friendly in comparison to other sources of financing that are becoming popular out of necessity. Investors get great value from startups poised to build even greater momentum toward market leadership when the market recovers.

Cohort 9 startups have a market presence in 6 markets across Southeast Asia (Singapore), South Asia (India, Sri Lanka, Pakistan, Bangladesh), and East Asia (Japan). 

In alphabetical order here are the incredible 8 blazing new trails in their industries: 

Brick and Mortar (formerly AletheaAI): connects their AI system with existing CCTV infrastructure and churns out actionable intelligence in real time that solves business problems.

Auptimate: a platform which makes it easy to set up and operate SPVs (Special Purpose Vehicles)

Interactive Cares: a virtual Edtech company that creates employability for millions of unemployed youths in emerging markets.

Mintpay: a shopping aggregator that simplifies shopping decisions and offers flexible payment options, cashback rewards and voucher discounts.

Noapp: an AI Driven platform that aims to empower businesses to market and launch their products built with the official WhatsApp API.

ORKO: software provider for electric vehicle manufacturers & fleet operators, and charging station /battery swapping stations operators.

PEEL Lab: a B2B GreenTech manufacturer of plant-based leather made out of leftover pineapple leaves.

UXArmy: enables organizations to understand customer needs and create delightful experiences backed by automated user research and AI.

A winning portfolio 

While Accelerating Asia invests into startups from any sector, in any market across Southeast Asia and South Asia. All of these companies are built on sound business models rooted in positive unit economics and revenue generation. To put it simply: These startups offer products and services that provide immediate value to customers. 

In addition to the talented founders, Accelerating Asia Ventures Co-Founder and General Partner Amra Naidoo attributes the success of the portfolio to the firm’s extended network, especially its limited partners. Accelerating Asia’s limited partners are those who invested into Fund 2, which has actively deployed capital in Southeast and South Asia pre-Series A startups since its launch in 2021 - Cohort 9 is its fifth batch of investments.

Limited partners play a crucial and active role in the portfolio, providing insight during selection week, mentoring startups during the accelerator program and beyond, and facilitating connections to other leaders in the ecosystem.

“Startups are of course founder-driven, but it takes a village to push them onward. The portfolio could not have gotten to where it is today without our limited partners and other co-investors, who join us in practicing our most deeply held principle: We don’t just pick startups - we actively build them up,” said Naidoo, adding that this high touch approach increases their chances of success. 

Naidoo invited other investors who may believe in this mandate - whether they are angel investors, family offices, or institutional investors - to consider working with Accelerating Asia. Investors who fill out their profile will be matched with high quality, curated startup recommendations, as part of Accelerating Asia Venture’s new investor matching program.  

Accelerating Asia’s startups have already become household names in their respective markets. These include Bangladeshi B2B marketplace Priyoshop, which now serves over 33,000 miro-merchants; Singaporean car-sharing marketplace Drive lah, which just closed a US$5 million round; and Giftpack, which has expanded from Asia to serve the corporate gifting needs of the largest companies in the United States and just raised US$4.3M. Accelerating Asia’s startups, in short, are making their mark all over the world.

The invite only Demo Day for Cohort 9 will be held on January 25, 2024, more information on how to apply to attend can be found here. If that’s too far in advance and you’re burning with questions, RSVP and join us for our Open House on November 22, 2024!  If you’re interested in joining our next cohort, apply here.

About Accelerating Asia Ventures

Accelerating Asia Ventures is a VC that invests into an in-house Flagship Accelerator Program programs for early-stage startups and investors. Licensed by the Monetary Authority of Singapore, Accelerating Asia’s early-stage VC fund focuses on post-revenue, pre-Series A startups with untapped potential that are 6-18 months away from institutional funding. Accelerating Asia Ventures invests up to US$250,000 in pre-Series A startups, and the current portfolio covers over ten countries in Southeast and South Asia. 

While most angel investors and startup programmes in the region focus on ideation-minimum viable product stage startups and venture funds focus on solid product-market fit, startups with a robust product at early stages of customer traction are often overlooked. That is where Accelerating Asia comes in. Our accelerator and venture capital model is designed to support pre-Series A startups to fast track growth and drive success, unlocking the potential in them. 

At the core of the work we do is the guiding belief that entrepreneurs are one of humanity’s  greatest catalysts for positive change. 


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Accelerating Asia invests in startups with scalable technology solutions and revenue generating business models that combine purpose with profit.


In making an investment decision, investors must rely on their own examination of startups and the terms of the investment including the merits and risks involved. Prospective investors should not construe this content as legal, tax, investment, financial or accounting advice.