Asia-Pacific is a thriving region when it comes to technology developing and funding. In fact, all the top five venture capital (VC) funded companies in the global emerging tech space in 2019 were from the Asia-Pacific (APAC) region, according to GlobalData, a data analytics company.
Among the top five, Chinese and Indian companies occupied two positions each while a Singaporean company also featured in the list.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Over the past few years, companies in the APAC region have been making news in the field of technology, with some of them also moving ahead to become global players. Now, with VC funding support, tech start-ups in the region can overcome the financial hurdles and be at the forefront of technology innovation.”
The two Chinese firms, Tenglong Holding Co Ltd (Tenglong Holding) and Beijing Kuaishou Technology Ltd. (Kuaishou Technology), collectively raised US$6.7bn during 2019. While Tenglong Holding is active in data centers space with services focused on big data, cloud and Internet of Things (IoT), Kuaishou Technology is a video sharing app.
Singapore-based Grab Holdings (Grab), which offers ride-hailing transport services, secured the third position. The company also offers payment and food delivery services.
The two Indian firms, Oravel Stays Private Limited (OYO) and One97 Communications Ltd. (One97), collectively raised US$3.2bn during the year. While OYO is an online aggregator of hotels, One97 is a payments solution provider.
Bose concludes: “These tech start-ups, with most of them not even a decade old, have grown to become big names in the respective domains they operate in. Moreover, with ongoing tech innovation and further backed by VC investments, Asia-Pacific companies are expected to further mark their presence in the global arena in a much stronger way in future.”
Peyman Khosravani is a global blockchain and digital transformation expert with a passion for marketing, futuristic ideas, analytics insights, startup businesses, and effective communications. He has extensive experience in blockchain and DeFi projects and is committed to using technology to bring justice and fairness to society and promote freedom. Peyman has worked with international organizations to improve digital transformation strategies and data-gathering strategies that help identify customer touchpoints and sources of data that tell the story of what is happening. With his expertise in blockchain, digital transformation, marketing, analytics insights, startup businesses, and effective communications, Peyman is dedicated to helping businesses succeed in the digital age. He believes that technology can be used as a tool for positive change in the world.
