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.
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.