Forbes Asia: Asia’s Top 10 Logistics & Transportation Startups to Watch in 2021
E-commerce faces a summer slump, but hybrid shopping and omnichannel strategies unlock new growth opportunities.
About Forbes Asia 100 to Watch
On August 31, 2021, Forbes Asia released the inaugural list of Forbes Asia 100 to Watch, highlighting the best businesses in the Asia Pacific region. Despite the difficult worldwide economic situation during the pandemic, these companies and startups have emerged even stronger than before.
The methodology Forbes used to select these best businesses in Asia is through online submissions as well as referring to nominations from incubators, accelerators, SME advocacy organizations, venture capitalists, and universities. To qualify, these companies must fulfill the following criteria: having headquarters in the Asia Pacific region, being minimum 1-year-old, privately owned, for-profit, and having a maximum of $20 million in its latest annual revenue or total funding as of 1 August 2021.
Nominees in the list are categorized into ten sections. The top category is biotechnology and healthcare with 17 companies in total. This is followed by e-commerce and retail with 12 companies. The logistics and transportation category comes close to a total of 10 companies. Other categories include food and hospitality, construction, agriculture, technology, finance, and entertainment and media.
Most of the companies in the Forbes Asia 100 to Watch list fall under technology companies. Notably, many e-commerce solutions made the cut as the top tech companies in Asia last year. E-commerce logistics solution providers, in particular, are gaining traction alongside the growth of e-commerce. Let’s check out which logistics companies in Asia from the Forbes Asia 100 to Watch are providing e-commerce logistics solutions!
Top 10 Logistics Companies in Asia
These top 10 logistics companies come from six countries: Singapore, India, Vietnam, Indonesia, Laos, and South Korea.
1. Autocrypt (South Korea)
Founded in: 2019
CEO: Daniel Kim
Key Backers: Hyundai, Ulmus Investment
Raising: $15 million (investors including Hyundai & Ulmus Investment)
This spinoff from Seoul-based Penta Security Systems is the only provider of a truly comprehensive mobility cybersecurity solution, a technology in need in the rising era of autonomous driving. AutoCrypt says it’s valued at about $45 million and expected to make $8.6 million in revenue this year.
In 2021, it expanded its international presence to Canada and Germany, adding to its branch network in five different locations.
2. Bellatrix Aerospace (India)
Founded in: 2015
CEO: Rohan Ganapathy
Key Backers: IDFC Parampara, Survam Partners
Raising: $3 million (investors including IDFC Parampara & Survam Partners)
The space transportation firm was founded by then-university students and specializes in satellite propulsion. It aims to create cost-efficient yet high-performing systems, including a patented one using water as a propellant. Bellatrix Aerospace is also developing India’s first private rocket.
3. Haulio (Singapore)
Founded in: 2016
CEO: Alvin Ea
Key Backers: PSA
Haulio is Southeast Asia’s largest container haulage platform, planning to be the Uber of Southeast Asia trucking. Its vision is to transform the region’s port logistics by enabling hauliers through technology. The company aims to connect global trade to local first-mile transportation across ASEAN. Now, Haulio is used by 90% of truckers and drivers in the cities. It’s also moving containers for shipping behemoth CMA CGM in Thailand, aiming at Indonesia for the next location.
4. Loca (Laos)
Founded in: 2018
CEO: Souliyo Vongdala
Loca is the first company in Laos to provide on-demand transportation through an application. Loca is known for making taxi prices transparent, offering reliable service 24/7 and special insurance protection per trip. Recently, it has added new services such as out-of-home advertising, on-demand groceries, and trucking service. Expanding the customer segment to the local market has raised the business by 30% monthly, compared to primarily focusing on tourists pre-pandemic.
5. Logivan (Vietnam)
Founded in: 2017
CEO: Linh Pham
Key Backers: Insignia Ventures Partners, K3 Ventures, VinaCapital
Raising: $8 million (Insignia Ventures Partners & K3 Ventures)
Logivan, the platform for connecting truckers with shipping companies, is the solution to Vietnam’s highly fragmented transportation industry. The company has over 60,000 drivers working for major firms, including Coca-Cola, Olam, and Wilmar.
6. Lozi (Vietnam)
Founded in: 2017
CEO: Trung Hoang Nguyen
Key Backers: Ascendo Ventures, Daal Ventures, DT&I, Metaplanet, VSV Capital
Raising: $16 million (to expand services)
Providing e-commerce solutions is the main focus of the company. The company’s one-hour-delivery e-commerce startup, Loship promises timely delivery of anything from meals, raw materials, food supplies and even people, taking on giant rivals like Grab and GoTo. Its services take place in Vietnam’s main and second-tier cities, Hanoi and HCM City.
7. Otoklix (Indonesia)
Founded in: 2019
CEO: Martin Reyhan Suryohusodo
Key Backers: Sequoia Surge
Otoklix is the answer to the gap between car owners and Indonesia’s fragmented workshop industry. Understanding the automotive aftermarket sector, the company improves the vehicle maintenance experience for consumers through standardized and transparent pricing. Simultaneously, its platform equips repair shops by increasing their visibility and reducing procurement costs. Over 1,300 repair shops have partnered to fix more than 10,000 cars a month.
8. Oye! Rickshaw (India)
Founded in: 2017
CEO: Mohit Sharma
Key Backers: Chiratae Ventures, Matrix Partners India
Oye! Rickshaw is a shared, electric, micro-mobility marketplace with convenient, environmentally friendly, affordable mobility options for people in India. Via electric rickshaws, it provides jobs for 7,000 drivers and completes over 8.7 million ride-sharing and deliveries.
9. Perform.AI (Singapore)
Founded in: 2016
CEO: Arne Jeroschewski
Key Backers: Cambridge Capital, SoftBank Ventures Asia, Wavemaker, Investible
Perform.AI is a cloud-based delivery experience platform for e-commerce businesses worldwide. Over 700 logistics carriers are connected with this leading carrier-independent company, allowing merchants to enhance end-to-end service after point-of-sale. Its number of customers increased by 45% as a result of the pandemic-led e-commerce boom. The company also recently raised a US$20 million Series A round led by Cambridge Capital, with participation from SoftBank Ventures Asia.
10. SWAT Mobility (Singapore)
Founded in: 2015
CEO: Jarrold Ong
Key Backers: Global Brain, UTEC
Raising: $18 million (investors including Global Brain)
Using route optimization, this smart mobility solution firm provides demand-responsive and ride-sharing technology in high-capacity vehicles. SWAT Mobility devises efficient car-pooling, cutting traffic congestion and energy consumption. It operates in seven countries, including Australia, Indonesia, Japan, the Philippines, Thailand, and Vietnam.
To find out more about other than these top 10 startups in Asia, please check out Forbes’ full article here!
