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Year End Specials: The new herd of unicorns built in 2017

Here are all the new Asian unicorns from 2017, grouped by vertical and product category

Eva Xiao | Tech in Asia 

Electric car, EV
Representative image | electric car

Transportation NIO Following the collapse of wannabe Faraday Future – bankrolled by former billionaire Jia Yueting – NIO has taken over as China’s rising electric car company. Backed by Tencent, Baidu, and Sequoia Capital, NIO (previously known as NextEV) is also entering the self-driving space. Real estate UrWork Co-working spaces are a dime a dozen in China’s major cities. Amid increasing competition, different spaces are upping the ante to attract more tenants, such as offering free-flowing beer and other perks. Artificial intelligence and big data SenseTime As the demand for facial and image recognition surges in China, artificial intelligence like are cashing in. Education Yuanfudao In China, where resources are disproportionately concentrated in major cities, parents are increasingly turning to online as an alternative.

That trend has been a boost to Yuanfudao’s business, an online platform that matches online tutors with kids. Media Bytedance In an ecosystem dominated by Alibaba and Tencent, Bytedance’s rise as an independent entity is extraordinary in and of itself. What SoftBank's $10b investment in Uber means for its battle with OlaE-commerce Bukalapak In a market swimming with deep-pocketed competitors like Lazada and Shopee, Indonesian startup believes it has a local advantage. In particular, it has set its sights on the country’s second- and third-tier cities that “don’t even use Facebook,” said company CEO Achmad Zaky during a fireside chat at Tech in Asia Jakarta 2017. Social media Zhihu Quora-like is part of a growing trend in China, where users pay experts and thought leaders for knowledge. Unlike its Western counterpart, is monetizing its network of industry experts by offering paid live streaming sessions, where users can attend live lectures and interact in real-time with different speakers.

This is an excerpt from the article published on Tech in Asia. You can read the full article here.

First Published: Mon, December 25 2017. 16:35 IST