Accelerating Asia, an accelerator and venture fund which focuses on early-stage startups, has announced its third cohort of companies.
“We have expanded our geographical footprint into India and reaffirmed our presence in Indonesia via our recruitment efforts for the cohort, the talent of our startups are well placed to deliver returns for investors,” said Craig Dixon, co-founder of Accelerating Asia.
Based in Singapore, the programme boasts an acceptance rate of less than two per cent with only eight selected from 450 applications, where participating startups range from B2B, B2C and B2G verticals, including energy, transportation, healthcare and cleantech.
Each company in the programme will receive S$50,000 (US$36,556) while top performers will get S$150,000 (US$109,669).
Accelerating Asia is also approaching the final close of the fund and is continuing to sign partnerships with limited partners (LPs) for early and exclusive access to their startups, providing qualified deal-flow, pro-rata rights and a first-option for investment. According to the company statement, the startups have already started receiving more than S$1.2 million (US$800,000) in initial commitments from existing investors and angels who are Accelerating Asia’s limited partners.
With the pandemic, the programme has pivoted into a virtual programme.
Also Read: News Roundup: Accelerating Asia to invest up to US$141K each in third cohort startups
Here are the eight startups selected in the programme:
AskDr
The startup connects consumers to verified doctors via its health information platform.
Energy Lite
A platform which enables investors to finance small to medium solar projects.
KaryaKarsa
The startup that allows creatives to showcase their works and services through its direct-to-fans monetisation platform.
Kinexcs
A health and fitness platform that connects clinicians to patients.
MyBrand
An app-based platform for home-based culinary businesses and cloud kitchen brands to reach out to a larger mass.
Shuttle
The startup provides safe and affordable transportation for locals in Bangladesh
WeavAir
The startup helps operators save up to 30 per cent of operation and maintenance costs and 60 per cent of energy through its sensors and predictive analytics.
ProjectPro
A work automation platform that helps data scientists get their projects done faster
Since its launch in 2018, Accelerating Asia said that it has grown into a community of more than 48 founders from 28 startups, spread across Asia with 40 per cent female-led or co-founded ventures. They work alongside regional angel networks such as Angel Hub, ANGIN and Angel Central as well as leading institutional investors, including Cocoon Capital, Monks Hill Ventures, and Golden Gate Ventures.
Nineteen companies from their past two cohorts have raised a collective investment of over S$5 million (US$3.6 million) during the 100-day accelerator program.
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Image Credit: Startaê Team
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