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The trend for AI startups in Asia is highlighted by its vibrant growth and innovation, particularly in generative AI, with China leading in the number of such startups funded in the first half of 2023.
Asia has a significant number of AI startups, totaling 2,686, indicating a robust and expanding ecosystem.
The region's startups are part of a global trend where AI technologies are increasingly influencing various sectors, including healthcare, finance, and retail, showcasing Asia's critical role in the global AI landscape
Let’s take a glimpse at the 10 rising AI startups which have raised funds between seed to series B round in Asia. Number is irrelevant to ranking.
Named Krutrim, this startup was founded in April 2023 and received over 50 million dollars in investment within a year.
In December 2023, it garnered attention by unveiling "Ola Krutrim". It is based in Bangalore, India, and San Francisco, USA. The tech startup, which has grown to an organization of 160 people, was established to develop a language model that generates text in English and eight Indian languages.
(Refer to : A Man Behind India’s First AI Unicorn and Its Own Version of UBer)
A promising fintech startup focusing on AI-powered wealth solutions, 1Long is building a financial technology platform focused on helping individuals achieve financial goals. The app supports financial fluidity by allowing daily transfers and withdrawals without any fees, thus removing barriers to accessing funds.
(Refer to : 1Long)
The AI platform, based in India and the US, aims to help salespeople find up-to-date information and generate accurate responses to customer questions through a single hub. Founder of SiftHub is Manisha Raisinghani, the former CTO and co-founder of LogiNext.
(Refer to : SaaS entrepreneur Raisinghani’s new AI venture nabs $5.5M to boost sales efficiency | TechCrunch)
Singapore-based startup Ai Palette has raised $5.7 million in a series A1 funding round to expand its AI-powered platform to help food companies accelerate and de-risk the product innovation process.
Founded in 2018 by ex-Givaudan executive Somsubhra Gan Choudhuri (CEO) and big data expert Himanshu Upreti, Ai Palette has developed an end-to-end platform enabling clients to identify trends, generate new product concepts, and screen them at the click of a button, aided by a chatbot called FoodGPT.
(Refer to : Ai Palette raises $5.7m to expand AI-powered insights platform, adds 'FoodGPT' chatbot)
Untukmu.AI, a Singapore-incorporated startup providing AI solutions for the gifting industry in Indonesia, has raised an undisclosed amount in a seed round in2024.
Launched in January this year by serial entrepreneur Pang Xue Kai (founder of Tokocrypto) and Pang Xue Cong, Untukmu.AI (meaning ‘for you’ in Bahasa Indonesia) aims to tackle the complexity of scaling personalised gifts for a broad audience, catering to small businesses, corporations, and self-employed professionals.
(Refer to : Tokocrypto founder’s new AI startup Untukmu bags funding to disrupt Indonesia’s personalised gifting market)
StealthMole, Asia’s rising startup for dark web data intelligence, has bagged US$7 million in a Series A funding round in 2024. StealthMole is an AI-enabled digital investigation and threat monitoring platform focused on detecting and mitigating cybercrime within the Asian region.
(Refer to : StealthMole Raises $7 Million in Series A Funding Round)
Korean startup Omelet, which develops generative AI-based decision-making automation solutions, has secured seed funding.
Omelet is at the forefront of employing generative AI for combinatorial optimization in industrial operations, focusing on automating complex decision-making for optimal resource allocation and process sequencing. This innovative approach simplifies the task of finding the best solution from numerous possibilities, revolutionizing efficiency in industrial contexts.
(Refer to : Omelet Secures Seed Funding for AI-Driven Industrial Decision-Making Solutions from Kakao Ventures)
Relaxy is an app that allows users to share their psychological challenges without suffering from prejudice or stereotypes.
Based on the stories and data coming from the community, the tech team builds a mood-based data map in real time, mapping the data to understand the emotions in the stories. If there are any alarming points, experts can intervene and prevent possible extreme situations. They are also working on a new feature called ‘AI case manager’.
(Refer to : Why this Bangladeshi founder built a mental care app for young generation)
This startup snagged SGD 1 million to launch its integrated fertility care and financing platform, showcasing the application of AI in healthcare.
Zora Health provides a comprehensive ecosystem that integrates virtual and in-person consultations, medical concierge services, fertility education workshops for corporations and fertility financing. The platform’s initial service offerings include egg freezing, in-vitro fertilisation (IVF), fertility testing and consultation services.
(Refer to : How a Singapore-Based Fertility, Reproductive and Family Healthcare Company Pioneered in Asia)
Sakana AI, a Tokyo-based artificial intelligence startup founded by two prominent former Google researchers, is a new AI research company based in Tokyo, Japan. It aims to develop transformative AI that will bring us into the next paradigm. The main focus of its research and development of new kinds of foundation models based on nature-inspired intelligence.
(Refer to : We raised $30M to develop nature-inspired AI in Japan)
Written by Jinny Kim (underdogs)
*This article is co-written with ChatGPT and reviewed by the editor.
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