Echelon Asia Summit 2020’s TOP100 has officially kicked off with recruitment of aspiring startups to join a list of graduates that have gotten recognised, backed, and in the process, made a name for themselves.
e27 checked in on two of the most successful startups from 2018 to 2019 that participated in TOP100 and came out on top. Here they are and what they’re up to post-TOP100.
From Malaysia, Dropee
Dropee is a B2B eProcurement marketplace that joined 2018’s TOP100 and qualified to go on and represent Malaysia alongside PHP web application & server management provider Runcloud.
Dropee might not emerge as 2018’s winner, but it caught lots of attention. In January 2019, it raised US$341,000 seed funding from Vynn Capital, in which the company said it used for kickstart market expansion, hire new talents, and introduce new product features.
Dropee was founded in 2016 by Lennise Ng and Aizat Rahim. It connects suppliers with small and medium enterprise (SME) business owners in real-time.
Suppliers and brand owners can streamline the product fulfillment process and facilitate bulk purchases through a suite of enterprise solutions provided by its platform. It offers features such as automated ordering placements to reduce stocking issues, a digitalised documentation, such as auto-generated purchase documents and cloud storage accessibility, which seeks to reduce human error and eliminates inefficiencies.
It also has tools to easily compare suppliers, prices, and products. It currently specialises in the Food & Beverage, FMCG, and retail market segments.
Also Read: Malaysian B2B marketplace Dropee wins grant from TERAJU’s SUPERB programme
Currently, Dropee focusses operations in Kuala Lumpur, Penang, and Johor.
Before this funding, Digital News Asia reported that Dropee raised US$71,600 from undisclosed angel investors and received a. US$35,800 grant from Cradle Fund.
Back in June 2019, Dropee introduced SME business financing in collaboration with Grab Financial. Powered by their lending and P2P financing partner, Grab would provide business financing to Dropee’s merchants and retailers.
The financing allows retailers to procure products directly from suppliers within the platform; with a financing tenure of up to 12 months. This way, Dropee guarantees a speedy processing time with low interest and a shorter repayment period.
In August, Digital News Asia reported that Dropee stroke another innovation in its platform. Dropee dropped NexHera, a suite of digital tools that seek to strengthen B2B relationships by giving merchants real-time visibility of business data across their supply chain and free up the paperwork hassle.
By co-existing with NexHera, Dropee said, multi-channel (offline-to-online) orders are consolidated on a user-friendly, personalised dashboard, which also provides real-time connectivity of customer information and inventory movement. Users will also get insights into customer behaviour and preferences, which aims to help maximise value and optimise marketing budgets.
From Vietnam, Ecomobi
Hailing from the most exciting economy in Southeast Asia for now, Ecomobi was one of the two winners in the 2019’s TOP100 finale.
Before joining Vietnam’s chapter of this year’s TOP100, it is reported that in 2017, it received an undisclosed sum in investment from Hong Kong-based STI Capital, followed by backing from ESP Capital (Vietnam) and Nextrans Capital (South Korea) in 2018.
Ecomobi describes itself as a social commerce platform that builds partnerships with publishers and facilitates commerce through social media platforms such as Facebook, YouTube, Zalo, and Instagram.
Ecomobi uses AI, machine learning, and chatbots to help brands connect with key opinion leaders and sell their products through reviews, promoted content, and product experience.
In September, DealStreetAsia reported that Ecomobi announced that it has received an undisclosed amount of funding from VinaCapital Ventures, a US$100 million venture capital fund focussed on tech startups in Vietnam and Southeast Asia.
Also Read: AI-powered social selling platform Ecomobi connects brands with influencers, boost their sales
VinaCapital Ventures was also joined by additional investors include Korea-based firms GS Shop, Naver Group, Line Ventures, and the follow-up funding by ESP Capital.
Ecomobi CEO and founder Thanh Truong stated that next in the pipeline for the company is to launch in Malaysia and the Philippines.
With operations in Indonesia, Vietnam, Thailand, and Singapore, Ecomobi claims that it supports e-commerce giants such as Tokopedia, Shopee, Tiki, and Lazada, as well as brands such as Sony, Samsung, and Vascara.
Both Dropee and Ecomobi have received funding post-TOP100 and have significantly improved since their Echelon days.
What both have experienced can be yours to take. Make the first step, plunge into the competition, and create noise around your products through 2020’s TOP100. Sign up here.
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