7 Asian Startups By Women That Have Been Successfully Funded
Hats off to all these POWER WOMEN running their startups in Asia!
When it comes to running a startup, and keeping it afloat, the landscape is a rocky one, filled with bumps along the way. One of the most vital points in keeping a startup alive is funding.
But it isn’t often easy to secure funding, especially in highly competitive fields like tech and media. These amazing Asian startups by women have shown its grit and purpose, and because of that, have recently secured HUGE funding to continue scaling their businesses.
Here are the startups by women that have recently secured funding:
1. Zilingo – S$73.62 million
Zilingo aggregates small fashion retailers in three Southeast Asian markets, with more than 10,000 merchants on board.
It raised US$54 million in Series C funding in March for international expansion into new markets such as Malaysia and Philippines. This takes total funding raised by the startup to date to US$82 million.
This funding round was led by Sofina, Burda Principal Investments and Sequoia Capital India, with Amadeus Capital joining in as a new investor.
All existing investors in the company also participated in the round including American billionaire Tim Draper, SIG, Venturra Capital, Beenext, Manik Arora along with others.
The Series C round comes only six months after Zilingo raised S$17 million in its Series B round six months before that.
In July 2018, it announced that it is set to raise a further US$50 million to strengthen its operations in Singapore, Indonesia and Thailand. Zilingo was founded by Ankiti Bose, who is now the CEO of the company.
2. Rotimatic – S$39.3 million
Zimplistic, the company behind the bread-making machine announced in April that it raised US$30 million (S$39.3 million) in a funding round led by Credence Partners and EDBI, the investment arm of Singapore’s Economic Development Board.
It said the investment from both parties is “another strong endorsement” of the company and its flagship product. Currently, it has more than 30,000 customers who have made more than 15 million flatbreads.
Pranoti Nagarkar-Israni is the co-founder and CTO of Zimplistic Inventions Pte Ltd based in Singapore. She is the inventor of the Rotimatic and holds 8 patents.
3. CXA – S$34.09 million
It became a US$100 million company following a US$25 million series B investment in 2017, co-led by Facebook co-founder Eduardo Saverin’s B Capital Group and Singapore-based EDBI. Global life and health reinsurance company RGA, Philips Healthcare, maker of data-driven medical devices and disease management programs, and existing investors NSI Ventures and Bioveda Capital also put in some cash.
Founder Rosaline Chow Koo will use the funds to take CXA beyond Singapore and Hong Kong to markets like China, India, Japan, South Korea, Taiwan, Indonesia, Malaysia, the Philippines, and Thailand.
CXA lets employees choose a mix of insurance and wellness benefits that best suits them. So rather than having, say, a US$1,000 one-size-fits-all insurance coverage, which you rarely or never use, you can free up that money and decide where you want to spend it. CXA aggregates all providers in its platform – from insurers to gyms and yoga studios.
4. Love, Bonito – S$17.7 million
In February 2018, Love, Bonito scored a successful Series B funding round led by Kakaku.com, together with existing investor NSI Ventures. The company previously raised Series A financing from NSI Ventures in 2016, elevating the business to a fast-growing regional brand, more than doubling its sales.
Love, Bonito was founded by Rachel Lim in 2010 and has since built a loyal and engaged community. The average sell-through rate is over 70%. In 2017 alone, the success translated into the delivery of more than half a million packages.
5. Snapcart – S$13.63 million
Snapcart is an offline shopper and consumer insights startup. It closed a US$10 million series A funding round in October 2017 led by existing investors Vickers Venture Partners, and includes funding from Social Capital, Kickstart Ventures, and Endeavor Catalysts.
Existing investors Wavemaker Partners and SPH Ventures also followed on in the round. Snapcart is cofounded by Araya Hutasuwan and Mayeth Condicion as well as their male counterparts Reynazran Royono and Laith Abu Rakty.
6. Tickled Media – S$11 million to date
Tickled Media, the media brand behind Asian Money Guide, Her Style Asia and theAsianparent, raised S$6.7 million in a series B funding, bringing the startup’s funding to over S$11 million.
This round was led by Global Grand Leisure, which was joined by Mountain Pine Capital and several existing investors. The company also received additional venture debt financing from DBS.
Founded by Roshni Mahtani, the media-tech company has seen remarkable growth from 1 million users in 2013 to its current base of 12 million Asian women monthly users across Asia. The funding round will help the company fuel its expansion into the Philippines, Malaysia, and Vietnam; as well as develop two additional media properties that will also target the Asian women segment.
7. Homage – S$5.66 million
Homage is a Singapore-based startup that helps connect caregivers and organisations with care recipients and their families. It has recently raised US$4.15 million for overseas expansion.
The company was started in 2016 by Gillian Tee, healthcare industry executive Lily Phang and former banker Tong Duong. Tee’s previous stints include founding Rocketrip, a travel startup backed by Y Combinator that has raised nearly US$30 million, but she moved home after 15 years to be closer to her family.
How amazing are these startups by women? We’re so proud to be part of the list and to be part of a media house that empower women.
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