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1. TRACXN TOP BUSINESS MODELS REPORT
June 17, 2021
SOUTHEAST ASIA TECH

2. Southeast Asia Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Contents
Southeast AsiaSoutheast Asia Tech
Funding - Overview
3
Top Funded Business Models 4
One pagers 9
Appendix 59
2

3. Southeast Asia Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Funding in last 1 year
3
Payments $1.9B
Logistics Tech $1.6B
Horizontal E-Commerce $1.5B
Road Transport Tech $989M
Brands Tech $708M
Second Hand Goods $481M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
Antler
East Ventures
17
13
8
Early
Stage
ACVentures
Insignia Ventures Partners
Y Combinator
10
9
8
Late
Stage
East Ventures
MDI Ventures
Temasek
5
5
4
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
Trax
(2010, )
$640M - Series E
Tokopedia
(2009, )
$500M - Series H
CARRO
(2015, )
$360M - Series C
Tokopedia
(2009, )
$350M - Series H
Grab
(2012, )
$300M - Series H
Gojek
(2010, )
$300M - Series H
Traveloka
(2012, )
$250M - Series D
Bukalapak
(2010, )
$234M - Series G
PropertyGuru
(2007, )
$220M - Series E
Grab
(2012, )
$200M - Series H
Bukalapak
(2010, )
$200M - Series G
Flash Express
(2017, )
$200M - Series D
Jakarta (43%)
Singapore (41%)
Bangkok (4%)
Bonifacio District (2%)
Taguig (2%)
Others (8%)

4. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Southeast Asia Tech - Top Funded Business Models - last 1 year (1/5)
4
Rank Business Model $ Funding # Rounds Top Funding Round Details
1<> 0 B2C Hyperlocal Delivery $950M 8 Grab | $300M | Series H Link
2<> 0 Digital Wallets $797M 13 Grab | $300M | Series H Link
3▲2 Card Linked Digital Wallets $675M 4 Grab | $300M | Series H Link
4▲8 In-Store Retail Analytics $640M 1 Trax | $640M | Series E Link
5▲8 CPG Brands Analytics Software $640M 1 Trax | $640M | Series E Link
6▼2 Car Ride Hailing $522M 8 Grab | $300M | Series H Link
7▼4 Two Wheeler Ride Hailing $450M 2 Gojek | $300M | Series H Link
8-- P2P Cars Marketplace $371M 2 CARRO | $360M | Series C Link
9▼3 Last Mile Ecommerce Delivery $270M 2 SiCepat | $170M | Series B Link
10▲219 Online Travel Agencies $251M 2 Traveloka | $250M | Series D Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Southeast Asia Tech - Top Funded Business Models - last 1 year (2/5)
5
Rank Business Model $ Funding # Rounds Top Funding Round Details
11▲14 Residential Real Estate Listings $220M 2 PropertyGuru | $220M | Series E Link
12▲52 Commercial Real Estate Listings $220M 1 PropertyGuru | $220M | Series E Link
13▲33 Own Fleet E-commerce Delivery $208M 5 Flash Express | $200M | Series D Link
14-- P2P Wallet Remittance $175M 1 Mynt | $175M | Series A Link
15-- Internet First Lenders $175M 1 Mynt | $175M | Series A Link
16▲49 Robo Advisors $136M 5 Bibit | $65.0M | Series B Link
17▲20 Pan-Cancer Drugs $125M 1 Hummingbird B.. | $125M | Series C Link
18-- Commercial Cleaning Robots $122M 2 Gaussian Robo.. | $100M | Series B Link
19▲123 White Label Wallet Solutions $121M 2 MatchMove | $100M | Series D Link
20-- Software for Money Transfer Businesses $120M 2 Thunes | $60.0M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Southeast Asia Tech - Top Funded Business Models - last 1 year (3/5)
6
Rank Business Model $ Funding # Rounds Top Funding Round Details
21▼12 Online Business Payments $110M 3 SYNQA | $80.0M | Series C Link
22▲18 Online Self Storage Services Providers $102M 2 Waresix | $100M | Series B Link
23▲18 Warehousing Marketplace $102M 2 Waresix | $100M | Series B Link
24▲18 Warehouse Marketplace $102M 2 Waresix | $100M | Series B Link
25-- Mobile Gaming Platforms $100M 3 Metaworld | $100M | Series C Link
26-- Two Wheeler Battery Swapping Stations $100M 1 Oyika | $100M | Series C Link
27▼20 Business Payments Solutions $66.7M 2 Xendit | $64.6M | Series B Link
28▲42 B2B Farm Produce Marketplace $65.5M 1 TaniHub | $65.5M | Series B Link
29▲44 B2B Fruits and Vegetables ECommerce Marketplace $65.5M 1 TaniHub | $65.5M | Series B Link
30▲18 Asset Light E-commerce Delivery $63.0M 2 Shipper | $63.0M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Southeast Asia Tech - Top Funded Business Models - last 1 year (4/5)
7
Rank Business Model $ Funding # Rounds Top Funding Round Details
31-- Ad Analytics $60.0M 1 ADA | $60.0M | Series B Link
32▲29 Insurance Comparison Platforms $59.4M 5 PasarPolis | $54.0M | Series B Link
33▼6 Online Beauty and Personal Care Products Retailer $58.0M 2 Sociolla | $58.0M | Series E Link
34-- Drugs for Multiple Cancer Types $56.0M 2 KGbio | $55.0M | Series C Link
35▼27 Online Subscription Based K-12 Academic Tutoring $55.0M 1 Ruangguru | $55.0M | Series C Link
36-- Nephrology Drugs $55.0M 1 KGbio | $55.0M | Series C Link
37-- Brands Ecommerce Software $51.0M 3 SIRCLO | $45.0M | Series B Link
38-- Retail Stores Marketing Communication Insights $50.0M 1 Ficus | $50.0M | Series C Link
39▲16 Life Sciences Research Services $43.0M 2 Engine Biosc.. | $43.0M | Series A Link
40-- Cheminformatics for Drug Discovery $43.0M 1 Engine Biosc.. | $43.0M | Series A Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Southeast Asia Tech - Top Funded Business Models - last 1 year (5/5)
8
Rank Business Model $ Funding # Rounds Top Funding Round Details
41▼27 Internet First P2P Business Loans $41.2M 6 Validus | $37.5M | Series C Link
42▲38 Removable Orthodontic Devices $40.0M 1 Zenyum | $40.0M | Series B Link
43▲149 Crypto Mobile Wallets $31.9M 3 imToken | $30.0M | Series B Link
44▼24 Second Hand Car C2B Platform $30.0M 1 Carsome | $30.0M | Series D Link
45-- Online B2B Grocery Distributor $28.0M 1 Super | $28.0M | Series B Link
46-- Oil & Gas > Equipment & Services $26.2M 1 DNeX | $26.2M | Series B Link
47▲59 Alternative Credit Score Providers $26.0M 2 TrustingSocial | $19.0M | Series B Link
48▲75 Job Boards for Students $22.5M 1 Glints | $22.5M | Series C Link
49-- Dapp Development Platforms $20.9M 2 Enjin | $19.0M | Seed Link
50▲137 Internet First Invoice Financing Marketplace $20.0M 2 Incomlend | $20.0M | Series A Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

9. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
B2C Hyperlocal Delivery - Southeast Asia
01
9
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$950M (▼61%)
8(▼42.9%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
9
$15.0B
29
-
214
5
Logistics Tech (Shipper)
(# Cos: 876 | $17.0B)
Parcel (HappyFresh)
(# Cos: 349 | $15.0B)
Hyperlocal Delivery (Gojek)
(# Cos: 257 | $15.0B)
B2C (Grab)
(# Cos: 214 | $15.0B)
Grab
(2012, $10.0B)
Gojek
(2010, $4.9B)
HappyFresh
(2014, $32.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Grab (2012)
$300M - Series H - Jan 2021
Gojek (2010)
$300M - Series H - May 2021
Grab (2012)
$200M - Series H - Aug 2020
Gojek (2010)
$150M - Series G - Nov 2020
Chopp (2015)
Undisclosed - Seed - Jul 2020
Grab (2012)
Undisclosed - Series H - Feb 2021
Lozi.vn (2014)
Undisclosed - Series C - Feb 2021
View all 8 Funding Rounds on Tracxn Platform

10. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Grab (2012)
$300M - Series H - Jan 2021
Gojek (2010)
$300M - Series H - May 2021
Grab (2012)
$200M - Series H - Aug 2020
GCash (2015)
$175M - Series D - Jan 2021
Mynt (2015)
$175M - Series A - Jan 2021
Gojek (2010)
$150M - Series G - Nov 2020
MoMo (2007)
$100M - Series D - Jan 2021
View all 13 Funding Rounds on Tracxn Platform
Digital Wallets - Southeast Asia
02
10
Back to index
Payments (PAYFAZZ)
(# Cos: 837 | $17.3B)
Consumer Payments (Gojek)
(# Cos: 358 | $15.9B)
Wallets (Grab)
(# Cos: 156 | $15.7B)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$797M (▼39.8%)
13(▼18.8%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$15.7B
29
-
156
11
Grab
(2012, $10.0B)
Gojek
(2010, $4.9B)
Wave Money
(2015, $73.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

11. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Card Linked Digital Wallets - Southeast
Asia
03
11
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$675M (▼43.1%)
4(▼20%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$10.2B
3
-
18
2
Payments (PAYFAZZ)
(# Cos: 837 | $17.3B)
Consumer Payments (Wave Money)
(# Cos: 358 | $15.9B)
Wallets (Gojek)
(# Cos: 156 | $15.7B)
Card Linked (Grab)
(# Cos: 18 | $10.2B)
Grab
(2012, $10.0B)
GCash
(2015, $175M)
Onepay
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Grab (2012)
$300M - Series H - Jan 2021
Grab (2012)
$200M - Series H - Aug 2020
GCash (2015)
$175M - Series D - Jan 2021
Grab (2012)
Undisclosed - Series H - Feb 2021

12. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
In-Store Retail Analytics - Southeast Asia
04
12
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$640M (▲540%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.0B
2
-
2
1
Big Data Analytics (Crayon Data)
(# Cos: 63 | $1.1B)
Industry Solutions (Nodeflux)
(# Cos: 19 | $1.0B)
Retail (Tapway)
(# Cos: 4 | $1.0B)
In-Store (Trax)
(# Cos: 2 | $1.0B)
Trax
(2010, $1.0B)
Tapway
(2012, $41.6K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Trax (2010)
$640M - Series E - Apr 2021

13. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Trax (2010)
$640M - Series E - Apr 2021
CPG Brands Analytics Software -
Southeast Asia
05
13
Back to index
Brands Tech (Snapcart)
(# Cos: 25 | $1.2B)
Analytics (Ai Palette)
(# Cos: 5 | $1.0B)
Diversified (Trax)
(# Cos: 2 | $1.0B)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$640M (▲540%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.0B
2
-
2
1
Trax
(2010, $1.0B)
Slicer
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

14. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Car Ride Hailing - Southeast Asia
06
14
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$522M (▼56.2%)
8(▲14.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$10.0B
13
1
120
2
Road Transport Tech (Beam)
(# Cos: 631 | $15.1B)
Ride Hailing (Gojek)
(# Cos: 206 | $14.9B)
Cars (FastGo)
(# Cos: 155 | $10.0B)
Taxi (MVL Foundation)
(# Cos: 143 | $10.0B)
Intracity (TADA)
(# Cos: 134 | $10.0B)
Aggregator (Grab)
(# Cos: 120 | $10.0B)
Grab
(2012, $10.0B)
TADA
(2018, $15.0M)
MVL Foundation
(2018, $25.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Grab (2012)
$300M - Series H - Jan 2021
Grab (2012)
$200M - Series H - Aug 2020
MVL Foundation (2018)
$15.0M - Series B - Apr 2021
MVL Foundation (2018)
$5.0M - Series A - Aug 2020
TADA (2018)
$5.0M - Series A - Aug 2020
EMDDI (2016)
$2.0M - Series A - Jun 2021
Grab (2012)
Undisclosed - Series H - Feb 2021
View all 8 Funding Rounds on Tracxn Platform

15. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Gojek (2010)
$300M - Series H - May 2021
Gojek (2010)
$150M - Series G - Nov 2020
Two Wheeler Ride Hailing - Southeast
Asia
07
15
Back to index
Road Transport Tech (Beam)
(# Cos: 631 | $15.1B)
Ride Hailing (Grab)
(# Cos: 206 | $14.9B)
Motorized Two-Wheelers (Gojek)
(# Cos: 41 | $4.9B)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$450M (▼64%)
2(▼71.4%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$4.9B
5
-
41
1
Gojek
(2010, $4.9B)
Teknojek Bonceng
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

16. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
P2P Cars Marketplace - Southeast Asia
08
16
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$371M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$479M
3
-
4
1
Second Hand Goods (Kaskus)
(# Cos: 226 | $1.0B)
Auto (Carmudi Indonesia)
(# Cos: 92 | $689M)
Cars (Carsome)
(# Cos: 73 | $599M)
P2P (One2car)
(# Cos: 14 | $479M)
Marketplace (CARRO)
(# Cos: 4 | $479M)
CARRO
(2015, $479M)
Otobro Caramo
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
CARRO (2015)
$360M - Series C - Jun 2021
CARRO (2015)
$11.0M - Series B - Aug 2020

17. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
SiCepat (2014)
$170M - Series B - Mar 2021
SiCepat (2014)
$100M - Series B - Dec 2020
Last Mile Ecommerce Delivery -
Southeast Asia
09
17
Back to index
Logistics Tech (Grab)
(# Cos: 876 | $17.0B)
Ecommerce Logistics (Shipper)
(# Cos: 148 | $1.6B)
Last Mile (Ninja Van)
(# Cos: 27 | $846M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$270M (▼33%)
2(▼33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$846M
3
-
27
2
Ninja Van
(2014, $523M)
SiCepat
(2014, $324M)
Ninja Xpress
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

18. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Traveloka (2012)
$250M - Series D - Jul 2020
Travala (2016)
$1.3M - Seed - Oct 2020
Online Travel Agencies - Southeast Asia
10
18
Back to index
Online Travel (RedDoorz)
(# Cos: 1039 | $1.7B)
Horizontal (Trip)
(# Cos: 157 | $1.3B)
Online Agency (Traveloka)
(# Cos: 123 | $1.2B)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$251M (▲ >10K%)
2(▼33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$1.2B
13
2
123
3
Traveloka
(2012, $1.0B)
Trip Tiket.com
(2011, $1.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

19. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Residential Real Estate Listings -
Southeast Asia
11
19
Back to index
Residential Real Estate Tech (Travelio)
(# Cos: 322 | $771M)
Listings (99.co)
(# Cos: 223 | $618M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$220M (▲410%)
2(▼71.4%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
19
$618M
39
-
223
5
99.co
(2014, $25.5M)
PropertyGuru
(2007, $543M)
PropertyGuru
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
PropertyGuru (2007)
$220M - Series E - Sep 2020
FazWaz (2015)
Undisclosed - Seed - Dec 2020

20. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Commercial Real Estate Listings -
Southeast Asia
12
20
Back to index
Commercial Real Estate Tech (PropertyGuru)
(# Cos: 251 | $939M)
Listings (99.co)
(# Cos: 92 | $574M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$220M (▲1110%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
8
$574M
14
-
92
3
99.co
(2014, $25.5M)
PropertyGuru
(2007, $543M)
Shwe Property
(2011, $3.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
PropertyGuru (2007)
$220M - Series E - Sep 2020

21. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Own Fleet E-commerce Delivery -
Southeast Asia
13
21
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$208M (▲730%)
5(▲150%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$678M
13
-
39
3
Logistics Tech (Grab)
(# Cos: 876 | $17.0B)
Ecommerce Logistics (Ninja Van)
(# Cos: 148 | $1.6B)
End to End Delivery Services (Shipper)
(# Cos: 46 | $768M)
Own Fleet (Flash Express)
(# Cos: 39 | $678M)
Flash Express
(2017, $550M)
aCommerce
(2013, $120M)
Janio
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Flash Express (2017)
$200M - Series D - Oct 2020
iStore ISend (2009)
$5.5M - Series B - Jan 2021
MyCloudFulfillment (2014)
$2.0M - Series A - Oct 2020
Flash Express (2017)
Undisclosed - Series D - Jun 2021
Flash Express (2017)
Undisclosed - Series E - Jun 2021

22. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
P2P Wallet Remittance - Southeast Asia
14
22
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$175M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$181M
3
-
31
2
Remittance (NIUM)
(# Cos: 136 | $504M)
Internet First Platforms (InstaReM)
(# Cos: 116 | $283M)
P2P Remittance (Mycash Online)
(# Cos: 85 | $211M)
Wallet Transfer (Mynt)
(# Cos: 31 | $181M)
Mynt
(2015, $175M)
Numoni
(2012, $4.8M)
Topremit
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Mynt (2015)
$175M - Series A - Jan 2021

23. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Internet First Lenders - Southeast Asia
15
23
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$175M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$197M
2
-
13
2
Alternative Lending (Akulaku)
(# Cos: 577 | $1.4B)
Online Lenders (Kredivo)
(# Cos: 425 | $1.1B)
Diversified (KoinWorks)
(# Cos: 59 | $247M)
Direct Lender (UangTeman)
(# Cos: 13 | $197M)
UangTeman
(2014, $22.0M)
Mynt
(2015, $175M)
Cashcepat
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Mynt (2015)
$175M - Series A - Jan 2021

24. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Robo Advisors - Southeast Asia
16
24
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$136M (▲656%)
5(▲66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$168M
9
-
22
2
Investment Tech (SGX)
(# Cos: 668 | $759M)
Wealth Management Platforms (GoBear)
(# Cos: 142 | $303M)
Robo Advisors (Kristal)
(# Cos: 27 | $168M)
Horizontal (StashAway)
(# Cos: 22 | $168M)
StashAway
(2016, $62.6M)
Kristal
(2016, $9.1M)
Bibit
(2016, $95.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Bibit (2016)
$65.0M - Series B - May 2021
Bibit (2016)
$30.0M - Series A - Jan 2021
StashAway (2016)
$25.0M - Series D - Apr 2021
StashAway (2016)
$16.0M - Series C - Jul 2020
Robowealth (2017)
Undisclosed - Series A - Jan 2021

25. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Hummingbird Bioscience (2015)
$125M - Series C - May 2021
Pan-Cancer Drugs - Southeast Asia
17
25
Back to index
Oncology (Eisai)
(# Cos: 31 | $561M)
Drugs (ASLAN Pharmaceuticals)
(# Cos: 20 | $510M)
Pan Cancer (Hummingbird Bioscience)
(# Cos: 3 | $151M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$125M (▲379%)
1(▼75%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$151M
2
-
3
1
Hummingbird Bioscience
(2015, $150M)
CytoMed Therapeutics
(2018, $1.1M)
Auxi Therapeutics
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

26. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Gaussian Robotics (2017)
$100M - Series B - Apr 2021
Gaussian Robotics (2017)
$22.0M - Series B - Sep 2020
Commercial Cleaning Robots - Southeast
Asia
18
26
Back to index
Professional Service Robots (Botsync)
(# Cos: 52 | $163M)
Cleaning (LionsBot)
(# Cos: 4 | $137M)
Commercial Maintenance (Gaussian
Robotics)
(# Cos: 4 | $137M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$122M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$137M
1
-
4
1
Gaussian Robotics
(2017, $137M)
LionsBot Robotek
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

27. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
White Label Wallet Solutions - Southeast
Asia
19
27
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$121M (▲2320%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$157M
4
1
11
1
Payments (Grab)
(# Cos: 837 | $17.3B)
Enablers (GHL)
(# Cos: 64 | $207M)
White Label Solutions (Silot)
(# Cos: 25 | $170M)
Wallets (MatchMove)
(# Cos: 11 | $157M)
MatchMove
(2009, $156M)
Kashmi
(2014, $530K)
Wallet Engine
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
MatchMove (2009)
$100M - Series D - Jun 2021
MatchMove (2009)
$21.0M - Series C - Sep 2020

28. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Thunes (2016)
$60.0M - Series B - Sep 2020
Thunes (2016)
$60.0M - Series B - May 2021
Software for Money Transfer Businesses
- Southeast Asia
20
28
Back to index
Remittance (InstaReM)
(# Cos: 136 | $504M)
Enablers (NIUM)
(# Cos: 13 | $190M)
Software for MTOs (Thunes)
(# Cos: 3 | $130M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$120M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$130M
1
-
3
1
Thunes
(2016, $130M)
Biz4x Coalculus
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

29. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
SYNQA (2015)
$80.0M - Series C - Jun 2020
Xfers (2014)
$30.0M - Series A - Mar 2021
9Pay (2018)
Undisclosed - Seed - Apr 2021
Online Business Payments - Southeast
Asia
21
29
Back to index
Payments (Grab)
(# Cos: 837 | $17.3B)
Business Payments (PAYFAZZ)
(# Cos: 413 | $1.2B)
Online Payments (InstaReM)
(# Cos: 181 | $537M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$110M (▼21.4%)
3( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$537M
21
-
181
6
InstaReM
(2014, $59.5M)
Voyager Innovations
(2013, $325M)
Coda Payments
(2011, $25.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

30. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Waresix (2017)
$100M - Series B - Sep 2020
Waresix (2017)
$1.9M - Series B - Feb 2021
Online Self Storage Services Providers -
Southeast Asia
22
30
Back to index
Local Services (SweetEscape)
(# Cos: 699 | $187M)
Storage Services (Vault Dragon)
(# Cos: 15 | $131M)
B2C (Waresix)
(# Cos: 15 | $131M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$102M (▲300%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$131M
5
-
15
1
Waresix
(2017, $129M)
Vault Dragon
(2013, $2.1M)
Beamspace
(2016, $242K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

31. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Warehousing Marketplace - Southeast
Asia
23
31
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$102M (▲300%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$129M
1
-
3
1
Logistics Tech (Grab)
(# Cos: 876 | $17.0B)
Warehousing (TradeGecko)
(# Cos: 60 | $170M)
On Demand Warehousing (Crewdible)
(# Cos: 7 | $131M)
Marketplace (Waresix)
(# Cos: 3 | $129M)
Waresix
(2017, $129M)
AdaGudang Izzy Storage
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Waresix (2017)
$100M - Series B - Sep 2020
Waresix (2017)
$1.9M - Series B - Feb 2021

32. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Waresix (2017)
$100M - Series B - Sep 2020
Waresix (2017)
$1.9M - Series B - Feb 2021
Warehouse Marketplace - Southeast
Asia
24
32
Back to index
SCM Software (Incomlend)
(# Cos: 119 | $166M)
Warehouse Management (Ascent Solutions)
(# Cos: 58 | $132M)
Warehousing Marketplaces (Waresix)
(# Cos: 1 | $129M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$102M (▲300%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$129M
1
-
1
1
Waresix
(2017, $129M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

33. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Mobile Gaming Platforms - Southeast
Asia
25
33
Back to index
Mobile Gaming (IGG)
(# Cos: 391 | $876M)
Gaming Platforms (Garena)
(# Cos: 22 | $829M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$100M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$829M
9
-
22
4
Garena
(2009, $722M)
Enjin PlayPlay fun
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Metaworld (2020)
$100M - Series C - Mar 2021
Jambox Games (2020)
$1.1M - Seed - Apr 2021
Storms (2019)
Undisclosed - Series A - Mar 2021

34. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Two Wheeler Battery Swapping Stations
- Southeast Asia
26
34
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$100M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$100M
1
-
1
1
Electric Vehicles (Beam)
(# Cos: 119 | $192M)
Charging Solutions (CHARZIN GLOBAL)
(# Cos: 17 | $100M)
Station Network (EA Anywhere)
(# Cos: 10 | $100M)
Two Wheelers (Oyika)
(# Cos: 1 | $100M)
Oyika
(2018, $100M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Oyika (2018)
$100M - Series C - Apr 2021

35. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Xendit (2014)
$64.6M - Series B - Mar 2021
SquidPay (2020)
$2.1M - Series A - Dec 2020
Business Payments Solutions - Southeast
Asia
27
35
Back to index
Payments (Grab)
(# Cos: 837 | $17.3B)
Business Payments (PAYFAZZ)
(# Cos: 413 | $1.2B)
Diversified (Xendit)
(# Cos: 50 | $521M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$66.7M (▼82%)
2(▼66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$521M
13
2
50
7
Xendit
(2014, $88.0M)
2C2P
(2003, $85.0M)
MC Payment
(2005, $8.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

36. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
B2B Farm Produce Marketplace -
Southeast Asia
28
36
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$65.5M (▲285%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$94.0M
1
-
4
1
Online Grocery (HappyFresh)
(# Cos: 589 | $403M)
B2B Ecommerce (Super)
(# Cos: 39 | $168M)
Farm Produce (Glife)
(# Cos: 14 | $95.2M)
Multi-Category (Krops)
(# Cos: 6 | $94.0M)
Marketplace (TaniHub)
(# Cos: 4 | $94.0M)
TaniHub
(2015, $94.0M)
Krops Sikumis
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
TaniHub (2015)
$65.5M - Series B - May 2021

37. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
B2B Fruits and Vegetables ECommerce
Marketplace - Southeast Asia
29
37
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$65.5M (▲285%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$94.3M
3
-
11
1
Crop Tech (Proximity Design)
(# Cos: 321 | $126M)
ECommerce (Agromaret)
(# Cos: 82 | $104M)
Farm Produce (Chilibeli)
(# Cos: 47 | $104M)
B2B (Krops)
(# Cos: 17 | $94.3M)
Fruits and Vegetables (SupplyBunny)
(# Cos: 13 | $94.3M)
Marketplace (TaniHub)
(# Cos: 11 | $94.3M)
TaniHub
(2015, $94.0M)
SupplyBunny
(2016, $300K)
Krops
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
TaniHub (2015)
$65.5M - Series B - May 2021

38. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Asset Light E-commerce Delivery -
Southeast Asia
30
38
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$63.0M (▲187%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$89.9M
5
-
7
1
Logistics Tech (Grab)
(# Cos: 876 | $17.0B)
Ecommerce Logistics (Ninja Van)
(# Cos: 148 | $1.6B)
End to End Delivery Services (Flash
Express)
(# Cos: 46 | $768M)
Asset Light (Shipper)
(# Cos: 7 | $89.9M)
Shipper
(2016, $88.0M)
AllSome Track
(2015, $1.9M)
Entrego
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Shipper (2016)
$63.0M - Series B - Apr 2021
Shipper (2016)
Undisclosed - Series A - Jun 2020

39. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
ADA (2013)
$60.0M - Series B - May 2021
Ad Analytics - Southeast Asia
31
39
Back to index
AdTech (iVideoSmart)
(# Cos: 277 | $183M)
Analytics (Lifesight)
(# Cos: 6 | $84.0M)
Ad Analytics Suite (ADA)
(# Cos: 4 | $82.0M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$60.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$82.0M
2
-
4
1
ADA
(2013, $80.0M)
aSpecial
(2011, $2.0M)
Audiencevalue
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

40. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
PasarPolis (2015)
$54.0M - Series B - Sep 2020
PasarPolis (2015)
$5.0M - Series B - Feb 2021
Ouch Free (2019)
$364K - Seed - Mar 2021
PolicyPal (2016)
Undisclosed - Seed - Sep 2020
Cermati (2014)
Undisclosed - Series C - May 2021
Insurance Comparison Platforms -
Southeast Asia
32
40
Back to index
Internet First Insurance Platforms (Singlife)
(# Cos: 162 | $478M)
Insurance Comparison Platforms (GoBear)
(# Cos: 105 | $240M)
Diversified (Cermati)
(# Cos: 58 | $169M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$59.4M (▲216%)
5(▲150%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$169M
14
-
58
3
Cermati
(2014, $3.5M)
GoBear
(2014, $97.0M)
PasarPolis
(2015, $59.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

41. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Online Beauty and Personal Care Products
Retailer - Southeast Asia
33
41
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$58.0M (▲45%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$128M
16
-
144
1
Beauty Tech (Female Daily)
(# Cos: 442 | $143M)
Ecommerce (Luxola)
(# Cos: 336 | $135M)
Multi Category (Hermo)
(# Cos: 177 | $128M)
Full Range (BeautyMNL)
(# Cos: 163 | $128M)
Retail (Sociolla)
(# Cos: 144 | $128M)
Sociolla
(2014, $110M)
BeautyMNL Hermo
(2012, $2.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Sociolla (2014)
$58.0M - Series E - Jul 2020
Sociolla (2014)
Undisclosed - Series E - May 2021

42. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
KGbio (2016)
$55.0M - Series C - Jan 2021
Avatamed (2019)
$1.0M - Seed - Aug 2020
Drugs for Multiple Cancer Types -
Southeast Asia
34
42
Back to index
Oncology (Hummingbird Bioscience)
(# Cos: 31 | $561M)
Drugs (ASLAN Pharmaceuticals)
(# Cos: 20 | $510M)
Diversified (Eisai)
(# Cos: 14 | $219M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$56.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$219M
8
1
14
2
Eisai Tessa
(2020, $130M)
AUM Biosciences
(2018, $1.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

43. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Online Subscription Based K-12 Academic
Tutoring - Southeast Asia
35
43
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$55.0M (▼63.3%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$205M
3
-
7
1
K-12 EdTech (Quipper)
(# Cos: 618 | $348M)
B2C Learning Solutions (LingoAce)
(# Cos: 263 | $295M)
School Curriculum (CoLearn)
(# Cos: 185 | $278M)
Multi Subject (Hocmai)
(# Cos: 158 | $268M)
Online Tutoring (PT Zenius Education)
(# Cos: 32 | $226M)
Subscription (Ruangguru)
(# Cos: 7 | $205M)
Ruangguru
(2014, $205M)
Tenopy Ottodot
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Ruangguru (2014)
$55.0M - Series C - Apr 2021

44. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Nephrology Drugs - Southeast Asia
36
44
Back to index
Nephrology (AWAK)
(# Cos: 5 | $117M)
Drugs (KGbio)
(# Cos: 1 | $55.0M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$55.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$55.0M
1
-
1
1
KGbio
(2016, $55.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
KGbio (2016)
$55.0M - Series C - Jan 2021

45. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Brands Ecommerce Software - Southeast
Asia
37
45
Back to index
Brands Tech (Trax)
(# Cos: 25 | $1.2B)
ECommerce Software (Anchanto)
(# Cos: 7 | $72.1M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$51.0M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$72.1M
2
-
7
2
Anchanto
(2011, $16.1M)
SIRCLO
(2013, $56.0M)
CrescoData
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
SIRCLO (2013)
$45.0M - Series B - May 2021
Anchanto (2011)
$12.1M - Series C - Aug 2020
SIRCLO (2013)
$6.0M - Series B - Aug 2020

46. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Ficus (2019)
$50.0M - Series C - Oct 2020
Retail Stores Marketing Communication Insights
- Southeast Asia
38
46
Back to index
In Store Retail Tech (Warung Pintar)
(# Cos: 344 | $1.3B)
Analytics (Trax)
(# Cos: 25 | $1.1B)
Marketing Communication Insights
(Ficus)
(# Cos: 1 | $50.0M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$50.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$50.0M
1
-
1
0
Ficus
(2019, $50.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

47. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Life Sciences Research Services -
Southeast Asia
39
47
Back to index
Life Sciences Platforms and Tools (Eisai)
(# Cos: 125 | $169M)
Research Services (Cordlife)
(# Cos: 83 | $106M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$43.0M (▲111%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$106M
28
5
83
3
Cordlife
(2001, $7.0M)
Eisai Clearbridge Health
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Engine Biosciences (2014)
$43.0M - Series A - May 2021
SingCell (2020)
Undisclosed - Seed - Dec 2020

48. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Cheminformatics for Drug Discovery -
Southeast Asia
40
48
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$43.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$53.0M
1
-
1
1
Life Sciences Tech (Gero)
(# Cos: 54 | $96.7M)
Research & Development (Holmusk)
(# Cos: 47 | $96.7M)
Drug Discovery (Entropica Labs)
(# Cos: 12 | $54.8M)
Cheminformatics (Engine
Biosciences)
(# Cos: 1 | $53.0M)
Engine Biosciences
(2014, $53.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Engine Biosciences (2014)
$43.0M - Series A - May 2021

49. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Internet First P2P Business Loans -
Southeast Asia
41
49
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$41.2M (▼55.4%)
6(▼25%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$157M
12
-
23
6
Alternative Lending (Akulaku)
(# Cos: 577 | $1.4B)
Online Lenders (Kredivo)
(# Cos: 425 | $1.1B)
Business Loans (AwanTunai)
(# Cos: 124 | $297M)
Diversified (Validus)
(# Cos: 31 | $161M)
Marketplace (Investree)
(# Cos: 25 | $161M)
P2P (Funding Societies)
(# Cos: 23 | $157M)
Funding Societies
(2015, $72.5M)
Investree
(2015, $23.5M)
Validus
(2015, $40.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Validus (2015)
$37.5M - Series C - May 2021
Microleap (2018)
$3.3M - Series A - Jan 2021
Indofund.id (2018)
$485K - Seed - Sep 2020
PinjamWinwin (2014)
Undisclosed - Seed - Jan 2021
Funding Societies (2015)
Undisclosed - Series C - Dec 2020
Funding Societies (2015)
Undisclosed - Series C - Sep 2020

50. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Removable Orthodontic Devices -
Southeast Asia
42
50
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Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$40.0M (▲194%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$56.0M
1
-
4
1
Dental (ijim Bruxism Care)
(# Cos: 10 | $56.0M)
Medical Devices (AutoDenty)
(# Cos: 10 | $56.0M)
Therapeutic Devices (h2ofloss)
(# Cos: 10 | $56.0M)
Orthodontics (Innobrace Orthodontics)
(# Cos: 6 | $56.0M)
Removable (Zenyum)
(# Cos: 4 | $56.0M)
Zenyum
(2018, $56.0M)
Mbrace Aline Aligners
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Zenyum (2018)
$40.0M - Series B - May 2021

51. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Crypto Mobile Wallets - Southeast Asia
43
51
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Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$31.9M (▲2554%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$43.0M
9
-
48
1
Cryptocurrencies (Coins.ph)
(# Cos: 951 | $237M)
Wallet (Enjin)
(# Cos: 102 | $82.8M)
Hot Wallets (AlphaWallet)
(# Cos: 62 | $44.0M)
Mobile Wallets (imToken)
(# Cos: 48 | $43.0M)
imToken
(2016, $40.0M)
AlphaWallet
(2017, $1.2M)
aelf
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
imToken (2016)
$30.0M - Series B - Mar 2021
Frontier (2019)
$1.9M - Seed - Aug 2020
BitKeep (2018)
Undisclosed - Seed - Mar 2021

52. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Second Hand Car C2B Platform -
Southeast Asia
44
52
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$30.0M (▼40.1%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$116M
2
-
2
1
Second Hand Goods (Kaskus)
(# Cos: 226 | $1.0B)
Auto (Carmudi Indonesia)
(# Cos: 92 | $689M)
Cars (CARRO)
(# Cos: 73 | $599M)
C2B (Carsome)
(# Cos: 2 | $116M)
Carsome
(2015, $116M)
Auto Craver
(2015, $46.4K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Carsome (2015)
$30.0M - Series D - Dec 2020

53. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Online B2B Grocery Distributor -
Southeast Asia
45
53
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$28.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$36.0M
2
-
6
1
Online Grocery (HappyFresh)
(# Cos: 589 | $403M)
B2B Ecommerce (TaniHub)
(# Cos: 39 | $168M)
Multi-Category (FreshKet)
(# Cos: 16 | $46.1M)
E-Distributor (Super)
(# Cos: 6 | $36.0M)
Super
(2016, $36.0M)
1Export Carecci & Figli Trading
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Super (2016)
$28.0M - Series B - Apr 2021

54. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Oil & Gas > Equipment & Services -
Southeast Asia
46
54
Back to index
Oil & Gas (Sembcorp Marine)
(# Cos: 224 | $275M)
Equipment & Services (Sembcorp Industries)
(# Cos: 193 | $275M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$26.2M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$275M
34
29
193
2
Sembcorp Industries Sembcorp Marine AG&P
(1900, $153M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
DNeX (1970)
$26.2M - Series B - Jun 2021

55. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Alternative Credit Score Providers -
Southeast Asia
47
55
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$26.0M (▲160%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$62.6M
7
-
15
4
Banking Tech (Cermati)
(# Cos: 226 | $450M)
Loan Life Cycle Management (Lenddo)
(# Cos: 38 | $77.8M)
Credit Assessment (Helicap)
(# Cos: 16 | $62.6M)
Alternative Credit Score
(CredoLab)
(# Cos: 15 | $62.6M)
CredoLab
(2015, $10.1M)
Helicap
(2018, $16.5M)
Lenddo
(2011, $17.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
TrustingSocial (2013)
$19.0M - Series B - Jun 2020
CredoLab (2015)
$7.0M - Series A - Aug 2020

56. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Glints (2013)
$22.5M - Series C - Apr 2021
Job Boards for Students - Southeast Asia
48
56
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HRTech (Talenta.co)
(# Cos: 1406 | $324M)
Job Board (Kalibrr)
(# Cos: 494 | $69.7M)
Graduate Jobs (Glints)
(# Cos: 35 | $33.0M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$22.5M (▲231%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$33.0M
6
-
35
1
Glints
(2013, $33.0M)
Rencanamu NusaTalent
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

57. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Dapp Development Platforms -
Southeast Asia
49
57
Back to index
Blockchain Infrastructure (Enjin)
(# Cos: 135 | $118M)
Application Development Platforms (Zilliqa)
(# Cos: 35 | $52.2M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$20.9M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$52.2M
12
-
35
3
Zilliqa Enjin
(2009, $19.0M)
Chainstack
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Enjin (2009)
$19.0M - Seed - Mar 2021
PolkaFoundry (2018)
$1.9M - Seed - Mar 2021

58. Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Internet First Invoice Financing Marketplace -
Southeast Asia
50
58
Back to index
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$20.0M (▲1233%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$58.2M
13
-
31
4
Alternative Lending (Akulaku)
(# Cos: 577 | $1.4B)
Online Lenders (Kredivo)
(# Cos: 425 | $1.1B)
Business Loans (Modalku)
(# Cos: 124 | $297M)
Trade Finance (Alami Sharia)
(# Cos: 41 | $89.3M)
Invoice Financing (Incomlend)
(# Cos: 36 | $60.8M)
Marketplace (AwanTunai)
(# Cos: 31 | $58.2M)
AwanTunai
(2017, $8.6M)
Incomlend
(2016, $21.0M)
Alami Sharia
(2017, $21.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Incomlend (2016)
$20.0M - Series A - Aug 2020
Alami Sharia (2017)
$20.0M - Series A - Jan 2021

59. Southeast Asia Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Private Limited. All rights reserved.
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Southeast Asia Tech - Top Business Models Report
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