SINGAPORE, 31 January 2024 - The founders from Accelerating Asia Ventures’ Cohort 9 will pitch their startup to a full, invite-only audience of investors from around the globe, including top angel investors, venture capital firms, and family offices.
At the start of the program, the 8 startups already had an average monthly revenue of US$13.2k. By the end of the accelerator, average monthly revenue had grown to US$51k, an increase of 286%
According to Co-Founder and General Partner Amra Naidoo, this rapid growth is attributable to the hard work that the startups themselves put into the 100-day accelerator program, who are chosen through a rigorous selection process. Prospective startups go through several rounds of interviews, which whittles down over 1000 applicants to the chosen cohort for a selectivity rate or less than 2%.
There is also experience at play. Naidoo and Co-Founder and General Partner Craig Dixon have jointly made over 100 investment decisions, some of which have gone on to receive follow-on investments from the likes of Sequoia Capital, Cocoon Capital, MDI Ventures, Wavemaker Partners, Comfort DelGro, and other top individual and institutional investors.
“Accelerating Asia Ventures takes pride in our ability to surface the best startups, led by the best founders. We have taken an iterative approach to our selection process, tweaking it with each cohort to improve our efficiency in finding the most promising organizations. Cohort 9 is the latest manifestation of this work: These are the companies that will hopefully go on to define their respective sectors in the years to come,” said Naidoo.
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:
BrickandMortarAI: 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.
Co-Founder and General Partner Craig Dixon also pointed to Accelerating Asia Ventures’ flagship accelerator program as a catalyst for Cohort 9’s continued growth. Spread across 100 days, the accelerator program includes master’s classes, mentoring with Accelerating Asia Ventures’ entrepreneur-in-residence, pitch nights, and other events that were capped off with an in-person retreat in Bali, Indonesia for one week of intensive learning from mentors, facilitators, and program administrators.
“Our accelerator program is not a token exercise: It provides significant value-add to both our entrepreneurs because it provides business lessons and strategies tailored to the unique landscape of Asia Pacific. Paired with their deep domain expertise, this localization puts them in the best position for global success,” said Dixon.
Accelerating Asia’s investors also benefit from the accelerator program because it derisks their investment. These limited partners have invested into Accelerating Asia’s early-stage investment vehicles which have actively deployed capital in 77 Southeast and South Asia pre-Series A startups since its launch in 2018. During the accelerator program, limited partners are actively involved, serving as facilitators, mentors, judges, investors, and industry contacts.
Thanks to Accelerating Asia Ventures’ broader network, especially its limited partners, Cohort 9 joins a portfolio that has reached a tipping point. The startups in the portfolio boast an average
monthly revenue of US$458k, which grew by 61% on an annual basis; have raised US$19.1 million over the last year alone (during a fundraising crunch no less); and have an average valuation of US$9.1M.
Investors are welcome to invest alongside Accelerating Asia Ventures and can register their interest here. Investors interested in meeting the graduating 8 startups can do so at the in-person Demo Day in Singapore on the 31st January, 2024 or online on the 7th February, 2024. Investors interested in attending should RSVP here.
Accelerating Asia Ventures will also begin recruiting for their next cohort of startups soon. Startups interested in joining the accelerator program and becoming part of Cohort 10, can apply here.
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.