A great number of startups in Asia have performed extraordinarily well in recent years, attracting the attention of global audiences. The region is well-known for its expanding layer of tech-savvy middle class and long-term economic opportunities, making the market increasingly appealing to all types of investors. Even after being battered by the COVID-19, Asia has surpassed the much-hyped Silicon Valley in the digital transformation race.
Here are some of the most-anticipated startups in Asia to look out for in 2022.
1 . Ula (Indonesia)
Founded in early 2020, Ula is an Indonesian marketplace application that focuses on enabling local businesses in managing their cash flow through the use of technology. Ula’s services mostly target local shops, including neighborhood kiosks. Small businesses and kiosks are an important aspect of daily life in Indonesia. Unfortunately, the majority of them have not incorporated the most recent and useful technology into their day-to-day activities. Due to this, Ula aims to modernize and advance the supply chain for the proprietors of these local shops. They already have over 30,000 small companies signed up for the app in Q2 2021.
2022 is looking bright for Ula’s startup development. Amazon founder, Jeff Bezos, made an unexpected investment in this startup last year.
2 . Logivan (Vietnam)
Logistics industry is on the rise and Vietnam’s startup Logivan seized the opportunity. This startup was established in 2017 and has since connected businesses to competent vehicles in order to streamline their logistical procedures. Corporations and transporters can save money by upgrading and automating the process (logistics). The starter increases the truck’s travel while minimizing resource waste. They have the ability to link over 60,000 truck drivers to diverse businesses. Coca-Cola, Wilmar, and Olam are some of their customers.
Logivan is expected to grow bigger this year as it has just acquired a funding of $8 million including from Insignia Ventures Partners and K3 Ventures.
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3 . Dayta AI (Hong Kong)
The cloud-based technology of Dayta AI, which was founded in 2018 and is currently run by Patrick Tu, analyzes consumer behavior using security cameras, helping businesses to increase sales and customer experience. They are experts in retail analytics based on footage acquired by surveillance cameras (CCTV). It is also one of the most innovative startups in Hong Kong, using CCTV video from a company’s shop to study consumer behavior using software built by them. They gather data such as peak shop traffic hours and demographics.
Dayta AI has secured $3 million in funding, including from the Entrepreneurship Fund of Hong Kong University of Science and Technology (HKUST) and accelerator ParticleX.
4 . Credit Culture (Singapore)
Credit Culture, established in Singapore, is a financial service provider that strives to minimize credit costs for customers and foster financial inclusion across multiple income categories, including the lower-income sector. They are officially Singapore’s first fintech startup to provide digital solutions for personal loans. With their invention and expertise, they enable customers to profit from a cheaper and faster loan application procedure, as well as deal with market changes. The executive team has over 30 years of expertise in the finance industry and is well-versed in consumer credit. Credit Culture raised around $32 million in 2019 from a single investor, RCE Capital Berhad.
There seems to be very little debate that the Asian startup has exhibited exceptional development and is posing a serious challenge to Silicon Valley. Moreover, there will be a lot of worldwide development in the startup community in 2022, so let’s just see!
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