Through its flagship accelerator program, Accelerating Asia, a Singapore-based early-stage startup enabler, has supported 10 new startups.
The startups in the eighth cohort of Accelerating Asia operate in seven markets throughout Southeast Asia, South Asia, the Middle East, and North Africa. They cover a range of industries, including agritech, e-commerce, logistics, and education.
According to a statement, the ten businesses have raised a total of $5.8 million and are bringing in an average of over $27,000 per month.
Startups in Asia and elsewhere are connected to investors, partners, and clients through Accelerating Asia. It has backed more than 100 founders from 70 companies since 2019. The company estimates that the average monthly revenue of these startups is over US$285,000, with an annualized revenue growth of 520%.
Investors including Sequoia Capital, Cocoon Capital, MDI Ventures, Wavemaker Partners, and Indonesia Women Empowerment Fund have contributed more than US$63.8 million to the portfolio companies overall.