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

2. Southeast Asia Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies 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 Limited. All rights reserved.
Southeast Asia Tech - Funding in last 1 year
3
Payments $2.3B
Logistics Tech $1.3B
Road Transport Tech $1.2B
Horizontal E-Commerce $1.1B
Brands Tech $760M
Continued Learning $662M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
East Ventures
Insignia Ventures Partners
30
11
11
Early
Stage
ACVentures
Openspace Ventures
Sequoia Capital
11
10
9
Late
Stage
East Ventures
Tiger Global Management
Telkomsel
5
4
4
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
EMERITUS
(2010, )
$650M - Series E
Trax
(2010, )
$640M - Series E
CARRO
(2015, )
$360M - Series C
Tokopedia
(2009, )
$350M - Series H
Grab
(2012, )
$300M - Series H
Gojek
(2010, )
$300M - Series F
Gojek
(2010, )
$300M - Series H
VNLIFE
(2007, )
$250M - Series B
VNPAY
(2007, )
$250M - Series B
Acronis
(2003, )
$250M - Series E
Bukalapak
(2010, )
$234M - Series G
Bukalapak
(2010, )
$200M - Series G
Singapore (46%)
Jakarta (31%)
Hanoi (5%)
Bangkok (3%)
Ho Chi Minh City (2%)
Others (13%)

4. Copyright © 2021, Tracxn Technologies 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▲5 Multi Products Marketplaces $1.0B 6 Tokopedia | $350M | Series H Link
2▲2 Car Ride Hailing $767M 6 Grab | $300M | Series H Link
3▼2 B2C Hyperlocal Delivery $750M 7 Grab | $300M | Series H Link
4▼2 Digital Wallets $727M 12 Grab | $300M | Series H Link
5-- Online Professional Learning Courses $650M 2 EMERITUS | $650M | Series E Link
6-- In-Store Retail Analytics $640M 1 Trax | $640M | Series E Link
7-- CPG Brands Analytics Software $640M 1 Trax | $640M | Series E Link
8▼3 Card Linked Digital Wallets $475M 3 Grab | $300M | Series H Link
9▲20 Business Payments Solutions $467M 5 VNPAY | $250M | Series B Link
10▼7 Two Wheeler Ride Hailing $450M 2 Gojek | $300M | Series H 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 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▲79 P2P Used Cars Marketplaces $360M 1 CARRO | $360M | Series C Link
12▼4 Last Mile Ecommerce Delivery $270M 2 SiCepat | $170M | Series B Link
13-- Ecommerce Last Mile Delivery $270M 2 SiCepat | $170M | Series B Link
14▼1 Endpoint Security $250M 1 Acronis | $250M | Series E Link
15-- Omnichannel $250M 1 VNLIFE | $250M | Series B Link
16▼2 Backup and Disaster Recovery $250M 1 Acronis | $250M | Series E Link
17▼2 Data Backup and Recovery $250M 1 Acronis | $250M | Series E Link
18▼7 Online Business Payments $244M 6 Voyager Innov.. | $167M | Series E Link
19▲60 Own Fleet E-commerce Delivery $216M 7 Flash Express | $200M | Series D Link
20▲1 C2B Used Cars Marketplaces $200M 2 Carsome | $170M | Series D 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 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-- Remittance Softwares for Enterprises $200M 1 NIUM | $200M | Series D Link
22▲15 Web Based Platform for Doctor Consultation $184M 3 Doctor Anywhere | $104M | Series C Link
23-- P2P Wallet Remittance $175M 1 Mynt | $175M | Series A Link
24-- Internet First Lenders $175M 1 Mynt | $175M | Series A Link
25▼18 Residential Real Estate Listings $152M 3 PropertyGuru | $147M | Series D Link
26-- Trade Management Software $148M 1 M-DAQ | $148M | Series D Link
27▲14 Pan-Cancer Drugs $125M 1 Hummingbird B.. | $125M | Series C Link
28▲19 Robo Advisors $120M 4 Bibit | $65.0M | Series B Link
29--
B2B E-Commerce > Industrial Goods > Diversified >
Marketplace
$120M 1 Moglix | $120M | Series E Link
30▲123 Cryptocurrencies Based Financial Services $104M 4 Matrixport | $100M | Series C 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 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▲13
B2B E-Commerce > Technology Enablers > E
Commerce Software Suite
$102M 3 GudangAda | $100M | Series B Link
32-- Mobile Gaming Platforms $100M 3 Metaworld | $100M | Series C Link
33-- Internet First NFC Prepaid Cards $100M 1 BigPay | $100M | Series A Link
34▲8 White Label Wallet Solutions $100M 1 MatchMove | $100M | Series D Link
35-- Electric Two Wheeler Battery Swapping $100M 2 Oyika | $100M | Series C Link
36▲12 Commercial Cleaning Robots $100M 1 Gaussian Robo.. | $100M | Series B Link
37▼15 P2P Second Hand Goods Marketplaces $100M 1 Carousell | $100M | Series E Link
38-- Facebook Storefronts $97.5M 2 ShopUp | $75.0M | Series B Link
39▲110 Lab Grown Milk $86.2M 2 TurtleTree | $80.0M | Series A Link
40-- Travel Metasearch Engines $86.0M 2 Aviasales | $43.0M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2021, Tracxn Technologies 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▲81 Brands Ecommerce Software $82.6M 4 SIRCLO | $45.0M | Series B Link
42--
Diagnostics (by Technology) > Diagnostic Assays and
Systems > In vitro Diagnostics > Nucleic ..
$77.0M 1 MiRXES | $77.0M | Series C Link
43-- Meal Planning Solutions $75.0M 1 HealthifyMe | $75.0M | Series C Link
44▲27
B2B E-Commerce > Food & Beverages > Groceries >
Farm Products > Marketplace
$65.5M 2 TaniHub | $65.5M | Series B Link
45▲27 B2B Farm Produce Marketplace $65.5M 1 TaniHub | $65.5M | Series B Link
46▲12 Asset Light E-commerce Delivery $63.0M 1 Shipper | $63.0M | Series B Link
47▲53 Crypto Exchanges $60.7M 6 Zipmex | $41.0M | Series B Link
48-- Ad Analytics $60.0M 1 ADA | $60.0M | Series B Link
49▼21 Software for Money Transfer Businesses $60.0M 1 Thunes | $60.0M | Series B Link
50▲59 Plant Based Meat Substitutes $56.2M 6 Growthwell | $22.0M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

9. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Multi Products Marketplaces - Southeast
Asia
01
9
Back to index
Horizontal E-Commerce (Lazada)
(# Cos: 512 | $6.7B)
Marketplace (Tokopedia)
(# Cos: 190 | $5.5B)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$1.0B(▲59.4%)
6( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
11
$5.5B
37
-
190
4
Tokopedia
(2009, $3.3B)
Lazada
(2012, $690M)
Bukalapak
(2010, $584M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Tokopedia (2009)
$350M - Series H - Oct 2020
Bukalapak (2010)
$234M - Series G - Apr 2021
Bukalapak (2010)
$200M - Series G - Jan 2021
Tiki (2010)
$100M - Series E - Jul 2021
Bukalapak (2010)
$100M - Series G - Nov 2020
Tiki (2010)
$20.0M - Series E - Aug 2021

10. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Car Ride Hailing - Southeast Asia
02
10
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
$767M(▼30%)
6(▼33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$13.6B
14
1
138
3
Road Transport Tech (Beam)
(# Cos: 691 | $18.6B)
Ride Hailing (MVL Foundation)
(# Cos: 231 | $18.4B)
Cars (FastGo)
(# Cos: 176 | $13.6B)
Taxi (TADA)
(# Cos: 163 | $13.6B)
Intracity (Gojek)
(# Cos: 152 | $13.6B)
Aggregator (Grab)
(# Cos: 138 | $13.6B)
Grab
(2012, $10.0B)
Gojek
(2010, $3.5B)
TADA
(2018, $15.0M)
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 F - May 2021
Gojek (2010)
$150M - Series F - Nov 2020
MVL Foundation (2018)
$15.0M - Series B - Apr 2021
EMDDI (2016)
$2.0M - Series A - Jun 2021
Grab (2012)
Undisclosed - Series H - Feb 2021

11. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
B2C Hyperlocal Delivery - 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
$750M(▼67.9%)
7(▼46.2%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$14.9B
23
-
150
4
Logistics Tech (Shipper)
(# Cos: 975 | $17.0B)
Parcel (honestbee)
(# Cos: 357 | $14.9B)
Hyperlocal Delivery (Gojek)
(# Cos: 231 | $14.9B)
B2C (Grab)
(# Cos: 150 | $14.9B)
Grab
(2012, $10.0B)
Gojek
(2010, $4.9B)
honestbee
(2015, $53.0M)
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
Gojek (2010)
$150M - Series G - Nov 2020
Lozi.vn (2014)
Undisclosed - Series A - Oct 2020
Grab (2012)
Undisclosed - Series H - Feb 2021
Lozi.vn (2014)
Undisclosed - Series C - Feb 2021
Metromart Phillippines (2016)
Undisclosed - Series A - Jul 2021

12. Copyright © 2021, Tracxn Technologies 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
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
LinkAja (2019)
$100M - Series B - Nov 2020
View all 12 Funding Rounds on Tracxn Platform
Digital Wallets - Southeast Asia
04
12
Back to index
Payments (Xendit)
(# Cos: 879 | $18.1B)
Consumer Payments (Gojek)
(# Cos: 383 | $16.0B)
Wallets (Grab)
(# Cos: 166 | $15.7B)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$727M(▼47.9%)
12(▼14.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$15.7B
31
-
166
11
Grab
(2012, $10.0B)
Gojek
(2010, $4.9B)
LinkAja
(2019, $100M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

13. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Online Professional Learning Courses -
Southeast Asia
05
13
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
$650M( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$691M
10
-
103
1
Continued Learning (LingoAce)
(# Cos: 552 | $722M)
Professional (Mindvalley)
(# Cos: 246 | $701M)
Online Learning (Hacktiv8)
(# Cos: 241 | $697M)
Multi Disciplinary (Kyna.vn)
(# Cos: 113 | $691M)
Online Courses (EMERITUS)
(# Cos: 103 | $691M)
EMERITUS
(2010, $690M)
Kyna.vn SkillLane
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
EMERITUS (2010)
$650M - Series E - Aug 2021
Mindtera (2021)
Undisclosed - Seed - Aug 2021

14. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
In-Store Retail Analytics - 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
$640M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$1.0B
2
-
2
1
Big Data Analytics (Crayon Data)
(# Cos: 68 | $1.1B)
Industry Solutions (Nodeflux)
(# Cos: 22 | $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

15. Copyright © 2021, Tracxn Technologies 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
07
15
Back to index
Brands Tech (SIRCLO)
(# Cos: 28 | $1.3B)
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( -- )
1( -- )
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.

16. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Card Linked Digital Wallets - 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
$475M(▼56.3%)
3(▼25%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$10.2B
4
-
20
2
Payments (Xendit)
(# Cos: 879 | $18.1B)
Consumer Payments (LinkAja)
(# Cos: 383 | $16.0B)
Wallets (Gojek)
(# Cos: 166 | $15.7B)
Card Linked (Grab)
(# Cos: 20 | $10.2B)
Grab
(2012, $10.0B)
GCash
(2015, $175M)
Instapay Technologies
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
GCash (2015)
$175M - Series D - Jan 2021
Grab (2012)
Undisclosed - Series H - Feb 2021

17. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
VNPAY (2007)
$250M - Series B - Aug 2021
Xendit (2015)
$150M - Series C - Sep 2021
Xendit (2015)
$64.6M - Series B - Mar 2021
Doku (2007)
$32.0M - PE - Aug 2021
SquidPay (2020)
$2.1M - Series A - Dec 2020
Business Payments Solutions - Southeast
Asia
09
17
Back to index
Payments (Grab)
(# Cos: 879 | $18.1B)
Business Payments (PAYFAZZ)
(# Cos: 430 | $1.9B)
Diversified (Xendit)
(# Cos: 49 | $953M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$467M(▲733%)
5(▲66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$953M
14
2
49
7
Xendit
(2015, $238M)
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.

18. Copyright © 2021, Tracxn Technologies 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
10
18
Back to index
Road Transport Tech (Beam)
(# Cos: 691 | $18.6B)
Ride Hailing (Grab)
(# Cos: 231 | $18.4B)
Motorized Two-Wheelers (Gojek)
(# Cos: 44 | $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(▼66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$4.9B
5
-
44
1
Gojek
(2010, $4.9B)
Angkas Teknojek
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

19. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
P2P Used Cars Marketplaces - Southeast
Asia
11
19
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
$360M(▲3173%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$479M
3
-
9
1
Auto E-Commerce & Content (Roojai)
(# Cos: 391 | $938M)
Second Hand Vehicles (Carmudi Indonesia)
(# Cos: 145 | $849M)
Cars (Carsome)
(# Cos: 118 | $799M)
P2P Marketplace (CARRO)
(# Cos: 9 | $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

20. Copyright © 2021, Tracxn Technologies 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
12
20
Back to index
Logistics Tech (Grab)
(# Cos: 975 | $17.0B)
Ecommerce Logistics (Shipper)
(# Cos: 180 | $1.6B)
Last Mile (Ninja Van)
(# Cos: 32 | $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
-
32
2
Ninja Van
(2014, $523M)
SiCepat
(2014, $324M)
JETexpress
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

21. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Ecommerce Last Mile 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
$270M( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$324M
1
-
1
1
E-Commerce Enablers (ShopUp)
(# Cos: 370 | $907M)
Operations Management (TradeGecko)
(# Cos: 60 | $489M)
Logistics Management (aCommerce)
(# Cos: 47 | $466M)
Last Mile (SiCepat)
(# Cos: 1 | $324M)
SiCepat
(2014, $324M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
SiCepat (2014)
$170M - Series B - Mar 2021
SiCepat (2014)
$100M - Series B - Dec 2020

22. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Acronis (2003)
$250M - Series E - May 2021
Endpoint Security - Southeast Asia
14
22
Back to index
Cybersecurity (CTOS)
(# Cos: 357 | $547M)
Endpoint Security (Incognito)
(# Cos: 14 | $408M)
Endpoint UTM (Acronis)
(# Cos: 2 | $408M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$250M(▲70.1%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$408M
1
-
2
1
Acronis
(2003, $408M)
Infinite Cybersecurity
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

23. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
VNLIFE (2007)
$250M - Series B - Jul 2021
Omnichannel - Southeast Asia
15
23
Back to index
Banking Tech (WeInvest)
(# Cos: 261 | $1.0B)
Banking Channels (Active.Ai)
(# Cos: 25 | $575M)
Omnichannel (VNLIFE)
(# Cos: 12 | $551M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$250M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$551M
5
-
12
1
VNLIFE
(2007, $550M)
Bank Genie Wee Digital
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

24. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Backup and Disaster Recovery -
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
$250M(▲70.1%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$408M
1
-
13
1
IT Operations (Resolve)
(# Cos: 61 | $414M)
ITSM (IsItUp.com)
(# Cos: 29 | $413M)
Continuity Management (Dropsuite)
(# Cos: 15 | $413M)
Backup and Disaster Recovery
(Acronis)
(# Cos: 13 | $408M)
Acronis
(2003, $408M)
2BrightSparks NaviClouDR
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Acronis (2003)
$250M - Series E - May 2021

25. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Acronis (2003)
$250M - Series E - May 2021
Data Backup and Recovery - Southeast
Asia
17
25
Back to index
Enterprise Storage (Dropmysite)
(# Cos: 39 | $422M)
Storage Management (Dropsuite)
(# Cos: 29 | $413M)
Backup & Recovery (Acronis)
(# Cos: 27 | $413M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$250M(▲70.1%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$413M
5
1
27
1
Acronis
(2003, $408M)
Dropsuite
(2012, $5.0M)
Dropmysite
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

26. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Voyager Innovations (2013)
$167M - Series E - Jun 2021
OY! (2017)
$45.0M - Series A - Jul 2021
Xfers (2014)
$30.0M - Series A - Mar 2021
Durianpay (2020)
$2.0M - Seed - Aug 2021
Dragonpay (2010)
Undisclosed - Series B - Jul 2021
9Pay (2018)
Undisclosed - Seed - Apr 2021
Online Business Payments - Southeast
Asia
18
26
Back to index
Payments (Grab)
(# Cos: 879 | $18.1B)
Business Payments (Xendit)
(# Cos: 430 | $1.9B)
Online Payments (InstaReM)
(# Cos: 189 | $761M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$244M(▲10.9%)
6(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
5
$761M
24
-
189
7
InstaReM
(2014, $59.5M)
Voyager Innovations
(2013, $502M)
Coda Payments
(2011, $25.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

27. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Own Fleet E-commerce Delivery -
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
$216M(▲1337%)
7(▲600%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$684M
13
-
40
3
Logistics Tech (Grab)
(# Cos: 975 | $17.0B)
Ecommerce Logistics (Ninja Van)
(# Cos: 180 | $1.6B)
End to End Delivery Services (Shipper)
(# Cos: 47 | $774M)
Own Fleet (Flash Express)
(# Cos: 40 | $684M)
Flash Express
(2017, $550M)
aCommerce
(2013, $119M)
Janio
(2018, $8.0M)
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
Janio (2018)
$8.0M - Series A - Jul 2021
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
iStore ISend (2009)
Undisclosed - Series B - Jul 2021

28. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
C2B Used Cars Marketplaces - Southeast
Asia
20
28
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
$200M(▲150%)
2(▼33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$317M
6
-
16
2
Auto E-Commerce & Content (Roojai)
(# Cos: 391 | $938M)
Second Hand Vehicles (Carmudi Indonesia)
(# Cos: 145 | $849M)
Cars (CARRO)
(# Cos: 118 | $799M)
C2B Marketplace (Carsome)
(# Cos: 16 | $317M)
Carsome
(2015, $286M)
myTukar
(2017, $30.9M)
Carsome
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Carsome (2015)
$170M - Series D - Sep 2021
Carsome (2015)
$30.0M - Series D - Dec 2020

29. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
NIUM (2002)
$200M - Series D - Jul 2021
Remittance Softwares for Enterprises -
Southeast Asia
21
29
Back to index
Remittance (InstaReM)
(# Cos: 136 | $745M)
Enablers (Thunes)
(# Cos: 13 | $431M)
Software for Enterprises (NIUM)
(# Cos: 10 | $301M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$200M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$301M
5
-
10
1
NIUM
(2002, $300M)
Qwikwire
(2013, $460K)
Wallet Engine
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

30. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Web Based Platform for Doctor
Consultation - Southeast Asia
22
30
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
$184M(▲567%)
3( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$317M
14
-
120
2
Healthcare Booking Platforms (DocDoc)
(# Cos: 612 | $477M)
Doctors (Alodokter)
(# Cos: 287 | $412M)
Telemedicine (EDoctor)
(# Cos: 160 | $319M)
Teleconsultation (Doctor Anywhere)
(# Cos: 158 | $319M)
Diversified (Halodoc)
(# Cos: 120 | $317M)
Halodoc
(2016, $180M)
Doctor Anywhere
(2015, $135M)
EDoctor
(2014, $1.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Doctor Anywhere (2015)
$104M - Series C - Aug 2021
Halodoc (2016)
$80.0M - Series C - Apr 2021
Medici
Undisclosed - Seed - Aug 2021

31. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
P2P Wallet Remittance - 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
$175M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$181M
3
-
31
2
Remittance (NIUM)
(# Cos: 136 | $745M)
Internet First Platforms (InstaReM)
(# Cos: 116 | $283M)
P2P Remittance (MoneyMatch)
(# Cos: 85 | $211M)
Wallet Transfer (Mynt)
(# Cos: 31 | $181M)
Mynt
(2015, $175M)
Topremit Pay2Home
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

32. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Internet First Lenders - Southeast Asia
24
32
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
-
21
2
Alternative Lending (Akulaku)
(# Cos: 644 | $1.5B)
Online Lenders (Kredivo)
(# Cos: 477 | $1.1B)
Diversified (KoinWorks)
(# Cos: 71 | $247M)
Direct Lender (UangTeman)
(# Cos: 21 | $197M)
UangTeman
(2014, $22.0M)
Mynt
(2015, $175M)
Kredito
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

33. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Residential Real Estate Listings -
Southeast Asia
25
33
Back to index
Residential Real Estate Tech (99.co)
(# Cos: 364 | $1.4B)
Listings (PropertyGuru)
(# Cos: 258 | $1.3B)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$152M(▼67.4%)
3(▼57.1%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
20
$1.3B
41
-
258
6
PropertyGuru
(2007, $642M)
99.co
(2014, $25.5M)
PropertyGuru
(2007, $543M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
PropertyGuru (2007)
$147M - Series D - Aug 2021
Oh My Home (2015)
$5.0M - Series A - Aug 2021
FazWaz (2015)
Undisclosed - Seed - Dec 2020

34. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Trade Management Software -
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
$148M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$278M
7
1
15
2
Investment Tech (Pluang)
(# Cos: 750 | $1.0B)
Capital Market IT (Spark Systems)
(# Cos: 43 | $291M)
Trade Management (Clear)
(# Cos: 42 | $291M)
Suite (M-DAQ)
(# Cos: 15 | $278M)
M-DAQ
(2010, $252M)
Spark Systems
(2016, $25.0M)
Call Levels
(2014, $600K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
M-DAQ (2010)
$148M - Series D - Aug 2021

35. Copyright © 2021, Tracxn Technologies 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
27
35
Back to index
Oncology (Eisai)
(# Cos: 34 | $681M)
Drugs (ASLAN Pharmaceuticals)
(# Cos: 21 | $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(▼66.7%)
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.

36. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Bibit (2016)
$65.0M - Series B - May 2021
Bibit (2016)
$30.0M - Series A - Jan 2021
StashAway (2016)
$25.0M - Series D - Apr 2021
Robowealth (2017)
Undisclosed - Series A - Jan 2021
Robo Advisors - Southeast Asia
28
36
Back to index
Asset Management (Blackstone)
(# Cos: 257 | $1.5B)
Robo Advisors (StashAway)
(# Cos: 28 | $168M)
Horizontal (Bibit)
(# Cos: 23 | $168M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$120M(▲446%)
4(▲33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$168M
9
-
23
2
Bibit
(2016, $95.0M)
StashAway
(2016, $62.6M)
Kristal
(2016, $9.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

37. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
B2B E-Commerce > Industrial Goods > Diversified
> 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
$120M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$221M
1
-
1
1
B2B E-Commerce (TaniHub)
(# Cos: 282 | $1.1B)
Industrial Goods (Horme Hardware)
(# Cos: 34 | $221M)
Diversified (Lokajasa Solusi)
(# Cos: 3 | $221M)
Marketplace (Moglix)
(# Cos: 1 | $221M)
Moglix
(2015, $221M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Moglix (2015)
$120M - Series E - May 2021

38. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Matrixport (2019)
$100M - Series C - Aug 2021
Cabital (2020)
$4.0M - Seed - Sep 2021
Kine (2016)
Undisclosed - Seed - Mar 2021
hi (1994)
Undisclosed - Seed - Jul 2021
Cryptocurrencies Based Financial
Services - Southeast Asia
30
38
Back to index
Cryptocurrencies (imToken)
(# Cos: 975 | $479M)
Financial Services (KuCoin)
(# Cos: 673 | $375M)
Diversified (Coins.ph)
(# Cos: 71 | $149M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$104M(▲3367%)
4(▲300%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$149M
13
-
71
2
Coins.ph
(2014, $10.0M)
Matrixport
(2019, $129M)
Nuo
(2018, $3.2M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

39. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
GudangAda (2019)
$100M - Series B - Jul 2021
SourceSage (2015)
$2.2M - Seed - Nov 2020
Techsembly (2019)
$1.4M - Seed - Apr 2021
B2B E-Commerce > Technology Enablers > E Commerce
Software Suite - Southeast Asia
31
39
Back to index
B2B E-Commerce (Moglix)
(# Cos: 282 | $1.1B)
Technology Enablers (TradeGecko)
(# Cos: 43 | $152M)
E Commerce Software Suite
(GudangAda)
(# Cos: 13 | $129M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$102M(▲303%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$129M
6
-
13
1
GudangAda
(2019, $125M)
SourceSage
(2015, $2.2M)
Techsembly
(2019, $1.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

40. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Mobile Gaming Platforms - Southeast
Asia
32
40
Back to index
Mobile Gaming (IGG)
(# Cos: 430 | $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 Storms
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

41. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Internet First NFC Prepaid Cards -
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
$100M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$101M
3
-
7
0
Payments (Gojek)
(# Cos: 879 | $18.1B)
Consumer Payments (Grab)
(# Cos: 383 | $16.0B)
Payment Cards (Volopay)
(# Cos: 56 | $138M)
Prepaid Cards (YouTrip)
(# Cos: 50 | $138M)
General Purpose (T2P)
(# Cos: 34 | $108M)
Reloadable (PayMaya)
(# Cos: 34 | $108M)
NFC (BigPay)
(# Cos: 7 | $101M)
BigPay
(2017, $100M)
FlexM
(2014, $866K)
YoloPay
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
BigPay (2017)
$100M - Series A - Aug 2021

42. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
White Label Wallet Solutions - Southeast
Asia
34
42
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(▲285%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$157M
4
1
11
1
Payments (Grab)
(# Cos: 879 | $18.1B)
Enablers (GHL)
(# Cos: 65 | $223M)
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

43. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Electric Two Wheeler Battery Swapping -
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
$100M( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$100M
1
-
1
1
Energy Storage Tech (Involt)
(# Cos: 57 | $100M)
Charging (Pinbus)
(# Cos: 31 | $100M)
Station Network (ReCharge)
(# Cos: 18 | $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
Oyika (2018)
Undisclosed - Series C - Jun 2021

44. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Gaussian Robotics (2017)
$100M - Series B - Apr 2021
Commercial Cleaning Robots - Southeast
Asia
36
44
Back to index
Professional Service Robots (eFishery)
(# Cos: 66 | $177M)
Cleaning (Robotek)
(# Cos: 3 | $137M)
Commercial Maintenance (Gaussian
Robotics)
(# Cos: 3 | $137M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$100M(▲355%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$137M
1
-
3
1
Gaussian Robotics
(2017, $137M)
Robotek Techly
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

45. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
P2P Second Hand Goods Marketplaces -
Southeast Asia
37
45
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(▲25%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$366M
4
-
15
1
Horizontal E-Commerce (Tokopedia)
(# Cos: 512 | $6.7B)
Second Hand (OLX Indonesia)
(# Cos: 85 | $380M)
Marketplace (Kaskus)
(# Cos: 15 | $366M)
P2P (Carousell)
(# Cos: 15 | $366M)
Carousell
(2013, $363M)
Kaskus Duriana
(2013, $3.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Carousell (2013)
$100M - Series E - Sep 2021

46. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
ShopUp (2016)
$75.0M - Series B - Sep 2021
ShopUp (2016)
$22.5M - Series A - Oct 2020
Facebook Storefronts - Southeast Asia
38
46
Back to index
Social Commerce (Carousell)
(# Cos: 69 | $642M)
Social Storefronts (AVANA)
(# Cos: 21 | $117M)
Facebook (ShopUp)
(# Cos: 9 | $110M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$97.5M( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$110M
2
-
9
1
ShopUp
(2016, $110M)
Nhanh.vn ARIS
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

47. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Lab Grown Milk - Southeast Asia
39
47
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
$86.2M(▲2594%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$98.8M
2
-
2
1
Food Tech (HealthifyMe)
(# Cos: 778 | $629M)
Novel Foods (Alchemy Foodtech)
(# Cos: 32 | $201M)
Food Products (Shiok Meats)
(# Cos: 30 | $199M)
Dairy Substitute (mohjo)
(# Cos: 9 | $98.8M)
Lab Grown (TurtleTree Labs)
(# Cos: 2 | $98.8M)
Milk (TurtleTree)
(# Cos: 2 | $98.8M)
TurtleTree
(2019, $89.4M)
TurtleTree Labs
(2019, $9.4M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
TurtleTree (2019)
$80.0M - Series A - Jul 2021
TurtleTree (2019)
$6.2M - Seed - Dec 2020

48. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Aviasales (2008)
$43.0M - Series B - Aug 2021
Aviasales (2007)
$43.0M - Series C - Aug 2021
Travel Metasearch Engines - Southeast
Asia
40
48
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Online Travel (Trip)
(# Cos: 1112 | $1.8B)
Horizontal (Traveloka)
(# Cos: 161 | $1.4B)
Metasearch (Wego)
(# Cos: 32 | $174M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$86.0M( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$174M
6
-
32
3
Wego
(2005, $77.5M)
Aviasales
(2008, $53.0M)
Aviasales
(2007, $43.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

49. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Brands Ecommerce Software - Southeast
Asia
41
49
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Brands Tech (Trax)
(# Cos: 28 | $1.3B)
ECommerce Software (SIRCLO)
(# Cos: 8 | $111M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$82.6M(▲1277%)
4(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$111M
4
-
8
2
SIRCLO
(2013, $92.0M)
Anchanto
(2011, $16.1M)
etaily
(2020, $1.6M)
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
SIRCLO (2013)
$36.0M - Series B - Sep 2021
etaily (2020)
$1.6M - Seed - Aug 2021
Techsembly (2019)
$1.4M - Seed - Apr 2021

50. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Diagnostics (by Technology) > Diagnostic Assays and Systems > In vitro
Diagnostics > Nucleic Acid-based > Sequencing-based > Genomics > Liquid
Biopsy > RNA - Southeast Asia
42
50
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
$77.0M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$160M
2
-
2
2
Diagnostics (by Technology) (Cordlife)
(# Cos: 71 | $492M)
Diagnostic Assays and Systems (Asia Genomics)
(# Cos: 27 | $162M)
In vitro Diagnostics (Carmentix)
(# Cos: 27 | $162M)
Nucleic Acid-based (Nova Satra)
(# Cos: 19 | $162M)
Sequencing-based (Imagene Labs)
(# Cos: 16 | $162M)
Genomics (Global Gene Corp)
(# Cos: 16 | $162M)
Liquid Biopsy (Ark Bio)
(# Cos: 3 | $160M)
RNA (MiRXES)
(# Cos: 2 | $160M)
MiRXES
(2014, $120M)
Ark Bio
(2018, $40.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
MiRXES (2014)
$77.0M - Series C - Jul 2021

51. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
HealthifyMe (2012)
$75.0M - Series C - Jul 2021
Meal Planning Solutions - Southeast Asia
43
51
Back to index
Food Tech (eatigo)
(# Cos: 778 | $629M)
Technology Enablers (Ai Palette)
(# Cos: 150 | $163M)
Meal Planning (HealthifyMe)
(# Cos: 1 | $100M)
Taxonomy
$ Invested in last 1 year in Southeast
Asia Tech
Key Stats
# Funding Rounds in last 1 year in
Southeast Asia Tech
$75.0M( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$100M
1
-
1
1
HealthifyMe
(2012, $100M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

52. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
B2B E-Commerce > Food & Beverages > Groceries > Farm
Products > Marketplace - 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
$65.5M(▲285%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$103M
7
-
15
3
B2B E-Commerce (Moglix)
(# Cos: 282 | $1.1B)
Food & Beverages (KlikDaily)
(# Cos: 47 | $169M)
Groceries (FreshKet)
(# Cos: 41 | $169M)
Farm Products (Growsari)
(# Cos: 24 | $134M)
Marketplace (TaniHub)
(# Cos: 15 | $103M)
TaniHub
(2015, $94.0M)
Eden Farm
(2017, $1.8M)
Zeemart
(2016, $6.8M)
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
Eden Farm (2017)
Undisclosed - Seed - Mar 2021

53. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
B2B Farm Produce Marketplace -
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
$65.5M(▲285%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$94.0M
2
-
9
1
Online Grocery (HappyFresh)
(# Cos: 629 | $534M)
B2B Ecommerce (FreshKet)
(# Cos: 50 | $169M)
Farm Produce (Eden Farm)
(# Cos: 25 | $97.0M)
Multi-Category (Fresh2Ket)
(# Cos: 15 | $94.0M)
Marketplace (TaniHub)
(# Cos: 9 | $94.0M)
TaniHub
(2015, $94.0M)
Agradaya 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

54. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Asset Light E-commerce Delivery -
Southeast Asia
46
54
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(▲215%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$89.9M
5
-
7
1
Logistics Tech (Grab)
(# Cos: 975 | $17.0B)
Ecommerce Logistics (Ninja Van)
(# Cos: 180 | $1.6B)
End to End Delivery Services (Flash
Express)
(# Cos: 47 | $774M)
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

55. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Crypto Exchanges - 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
$60.7M(▲539%)
6(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
6
$129M
32
-
284
5
Cryptocurrencies (imToken)
(# Cos: 975 | $479M)
Financial Services (Coins.ph)
(# Cos: 673 | $375M)
Investment Industry (Kyber Network)
(# Cos: 462 | $218M)
Crypto Exchanges (KuCoin)
(# Cos: 284 | $129M)
KuCoin
(2017, $20.0M)
PDAX
(2017, $12.5M)
CoinHako
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Zipmex (2018)
$41.0M - Series B - Aug 2021
PDAX (2017)
$12.5M - Series A - Aug 2021
Zipmex (2018)
$6.0M - Series A - Jan 2021
Switcheo (2017)
$1.2M - Seed - Nov 2020
NASDEX (2021)
$1.1M - Seed - Aug 2021
Tokenize Exchange (2017)
Undisclosed - Seed - Feb 2021

56. Copyright © 2021, Tracxn Technologies 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
48
56
Back to index
AdTech (Coc Coc)
(# Cos: 289 | $185M)
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.

57. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Thunes (2016)
$60.0M - Series B - May 2021
Software for Money Transfer Businesses
- Southeast Asia
49
57
Back to index
Remittance (InstaReM)
(# Cos: 136 | $745M)
Enablers (NIUM)
(# Cos: 13 | $431M)
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
$60.0M( <> 0% )
1( <> 0% )
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.

58. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Southeast Asia Tech - Top Business Models Report
Recent Funding Rounds
Plant Based Meat Substitutes -
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
$56.2M(▲603%)
6(▲500%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$67.9M
8
-
8
2
Food Tech (HealthifyMe)
(# Cos: 778 | $629M)
Novel Foods (TurtleTree Labs)
(# Cos: 32 | $201M)
Food Products (TurtleTree)
(# Cos: 30 | $199M)
Alternative Proteins (Growthwell)
(# Cos: 16 | $100M)
Meat Substitute (Shiok Meats)
(# Cos: 9 | $98.6M)
Plant Based (Next Gen Foods)
(# Cos: 8 | $67.9M)
Next Gen Foods
(2020, $32.2M)
Growthwell
(1989, $30.0M)
Green Butcher
(2020, $2.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Growthwell (1989)
$22.0M - Series B - Sep 2021
Next Gen Foods (2020)
$20.0M - Seed - Jul 2021
Next Gen Foods (2020)
$10.0M - Seed - Feb 2021
SGProtein (2020)
$3.0M - Seed - Mar 2021
Next Gen Foods (2020)
$2.2M - Angel - Oct 2020
Green Butcher (2020)
$2.0M - Seed - Feb 2021

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