You are here: Home » Companies » Start-ups » Around the World
Business Standard

The Southeast Asian start-ups to watch out for in 2016

2015 was a stunning year for Southeast Asian start-ups, garnering VC funding worth $1.7 billion. What does 2016 hold for them? Tech in Asia finds out

Terence Lee / Tech in Asia 

Image via
Image via

2015 looks to have been another stunning year for Southeast Asian start-ups. According to Tech in Asia’s database, total venture capital funding from Q3 of 2014 to the same period this year stands at $1.7 billion – more than double that of 12 months before.

Here, we trace six start-ups that could make a huge impact in Southeast Asia next year, as well as the larger trends they signify.

Honestbee: battle of philosophies

Singapore’s Honestbee burst onto the scene as a service that sends shoppers to buy groceries on your behalf. It quickly secured $15 million from investors to go on a regional expansion spree.

2016 will be crucial for Honestbee, as it will need to significantly boost order volumes for its business to make sense. Moreover, it will need to do so without passing costs to consumers – or at least hope it can make enough money off people who don’t mind the extra cost.

Go-Jek: giving GrabTaxi a tough fight

For motorbikes in Indonesia, there’s Go-Jek. The start-up burst onto the scene in 2015, and while it refuses to disclose ridership numbers, sources tell us growth has been staggering. The Go-Jek helmet is now ubiquitous on Jakarta’s clogged roads, and the company has done well enough to receive funding from top venture capital firm Sequoia.

The Southeast Asian start-ups to watch out for in 2016

Go-Jek has no doubt circled 2016 on its calendar. It’s facing growing pains and finding it increasingly difficult to appease its riders. It has begun testing delivery services as a core offering, jumping ahead of Uber, who has only dipped into logistics with marketing stunts.

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

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, November 26 2015. 14:51 IST