On August 29th,?Forbes Asia released the third annual edition of the ¡®100 to Watch¡¯?list, which spotlights small companies and startups that are on the rise across the Asia-Pacific region. The list highlights 13 countries and territories that are represented across 11 categories, including biotechnology and health care, e-commerce, retail, and finance.
Singapore is leading the list for the second time in a row, with 20 Singaporean companies. Next in line is Hong Kong with 15 companies, followed by China and Indonesia, both with 11 companies. The country with the fewest number of companies on the list is Taiwan, with just one Taiwanese company.
As far as India is concerned,?6?Indian?companies feature on the?Forbes?list this year, compared to 11 in 2022, 22 in 2021, and the highest among all the countries featured in the list that year. The Indian companies on the list include:
ApnaKlub is a?Bengaluru-based platform that connects retailers, such as kiranas and general stores, to a wide range of consumer goods and brands by aggregating the supply chain through data and technology. Their mission is to empower and encourage small business owners to set up and expand their hyperlocal businesses by giving them equitable access to a large assortment of brands and SKUs, fairer prices, and reliability in supply.
Bengaluru-based technology startup Exponent Energy has two main objectives to build its business on:?¨C charging an EV as quickly as possible and a battery that costs as little as possible, an ET report mentioned. As recently as this month, the company?pitched?15-minute fast charging?that generates 256 times more heat than the industry average of a 4-hour charging cycle. This could turn out to be an industry-leading aspect if the 0¨C100% battery charge gets done in the pitched 15 minutes.
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Founded in 2011 in Mumbai,?IDfy builds technology solutions to help companies accurately identify people, run background checks, conduct KYC, mitigate lending risks, and onboard associates. Its mission is to deliver these solutions with zero friction for end users. IDfy¡¯s video platform and a suite of APIs help companies Identify people, verify their credentials, and assess the risk of fraud.
Founded?in 2018, Chennai-based Kaleidofin is a wealth-tech platform. The name "Kaleidofin" is inspired by the power of financial solutions to enable the beautiful possibilities of a future life for each customer.?It acts as a platform where entities such as banks, MFIs, NGOs, and corporations can plug in to offer Kaleidofin goal-based solutions for their customers and employees, respectively, at places of their own convenience.?
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Founded in 2016,?RED Health was started to provide accessible, reliable, and high-quality medical assistance?to those in need. In 2023, the company underwent a rebranding and expanded its services to offer a comprehensive medical assistance platform. From emergency response to ongoing treatment and recovery, RED Health aims to provide many such services and make it accessible to all.
Last but not least on the list, Stellapps claims to be the first of its kind in India, working towards the digitization of the dairy supply chain. Started in 2011, it is an IIT Madras-incubated, Bangalore-based Internet of Things (IoT) startup?Started in 2011, it is an IIT Madras-incubated, Bangalore-based Internet of Things (IoT) startup?with a primary focus on data acquisition and machine learning. It digitises and optimises milk production, milk procurement, and cold chain management through the SmartMooTM platform (a full-stack IoT solution), which helps dairy farmers and cooperatives maximise profits while minimising effort.
As far as eligibility criteria for the?Forbes?Asia list are concerned, companies needed to have their headquarters in the Asia-Pacific region, maintain private ownership, operate for profit, exhibit annual revenue under $50 million, and possess total funding up to $100 million by August 7.
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