Accelerating Asia, the international early-stage venture capital (VC) fund, has announced its latest investment in ten diverse startups as part of the 8th cohort of its flagship accelerator program.
These promising new additions span various industries such as education, e-commerce, logistics, insurtech, and agritech, and hail from seven markets across Southeast Asia, South Asia, and the Middle East and North Africa.
Despite the current downturn in funding, these startups have displayed notable market traction, collectively raising a staggering US$5.8 million to date.
Co-Founder and General Partner of Accelerating Asia, Craig Dixon, attributes this success to their strong early revenue and fundraising traction in local markets.
He further added, “Accelerating Asia looks forward to helping them leverage this early success to scale into larger geographies and fundraise from a larger suite of investors across the world.”
Alongside economic success, these startups are also making a significant social impact, in alignment with Accelerating Asia’s mission. Their core business models adhere to the Sustainable Development Goals (SDGs), contributing positively to their communities.
With the addition of Cohort 8, Accelerating Asia now boasts a portfolio of 70 startups led by over 100 founders, spread over more than 20 verticals. These startups have an average monthly revenue exceeding US$285,000 and an impressive annualized revenue growth of 520%.
Their undeniable market traction has attracted esteemed investors like Sequoia Capital, Cocoon Capital, MDI Ventures, Wavemaker Partners, and the Indonesia Women Empowerment Fund. In total, they have raised over US$63.8 million in venture capital, bringing the total portfolio valuation to US$600 million.
Amra Naidoo, Co-Founder and General Partner at Accelerating Asia, explains that investors choose to partner with the organization due to the size and scale of their portfolio, the high-quality startups, and their less than 2% selectivity rate.
Accelerating Asia, known for its focus on pre-Series A startups, continues to unlock untapped potential in this niche, bridging a gap in the market between ideation-minimum viable product stage startups and those with a solid product-market fit.
Looking forward, an exclusive Demo Day for Cohort 8 is slated for August 3. Those interested in joining the next cohort or investing alongside Accelerating Asia are invited to reach out for more information.
AsiaTechDesk
