MARKETS & INVESTING | Staff Reporter, Singapore

Four Singapore startups to join international VC accelerator program

The startups beat out 500 other aspirants, and will receive up to $200k in funding each.

Four Singapore-headquartered startups have entered international accelerator venture capitalist Accelerating Asia’s fourth cohort of its flagship 100-day program for pre-Series A startups.

The startups who entered the program are co-living operator Casa Mia, mobility startup Driver Lah, dating app KopiDate, and QR ordering & payments platform Waitrr, along with other startups from Indonesia, Pakistan and Bangladesh making up a total of 11 on Accelerating Asia's fourth cohort.

“We’ve selected Cohort Four from 500 startups from 30 countries, a record number of applications for us that shows the demand for a Singapore based accelerator with an international footprint. With just 2% of startups selected, the chosen 11 will be part of our largest cohort and are eligible to receive up to $200,000 in investment from our VC fund,” said Accelerating Asia’s co-founder and general partner Amra Naidoo.

The 11 startups have raised over $6m coming into the programme, bringing the total capital raised by Accelerating Asia’s startups to over $30m, with 70% of investment raised since joining the Accelerating Asia portfolio.

In just one month since the fourth cohort began, the startups had already increased monthly revenue by 25%, up from an average of $45,000 when they joined Accelerating Asia to $56,000. The 11 startups current growth rate has also doubled since joining Accelerating Asia, with startups averaging 30% MoM growth up from 16% at the start of the programme.

The fourth cohort’s programme will culminate in an online Demo Day on 17 June 2021.

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