For Subscribers

Unicorns on the rise in opportunity-rich S-E Asia

The growing affluence of a large young population is driving much of the growth in the region. Throw in digital disruption, and what you get is the rise of the unicorns - private start-ups with valuations of at least US$1 billion (S$1.4 billion). South-east Asia has spawned 11 unicorns in the past year. The Straits Times takes a closer look at what is driving this phenomenon.

Grab's office in Manila. The ride-hailing firm, the most valuable South-east Asian unicorn at US$14.3 billion (S$19.7 billion), has grown exponentially since moving its HQ to Singapore in 2014. It has expanded by targeting multiple markets at the same time, with localised services from its strategic base here. ST PHOTO: CRISTINA MENINA

Chong Koh Ping

Business Correspondent

Updated

Published

Aug 05, 2019, 05:00 AM

Singapore-based Trax became the 11th unicorn in South-east Asia last month after it raised US$100 million (S$140 million) from investors led by Hopu Investments, putting its valuation at US$1.3 billion.

The firm, founded here in 2010 by two Israeli-born entrepreneurs, uses technology to monitor products on supermarket shelves.

Already a subscriber? Log in

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

ST One Digital

$9.90 $9.90/month

No contract

ST app access on 1 mobile device

Subscribe now

Unlock these benefits

All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you

Regional Unicorns

Join ST's Telegram channel and get the latest breaking news delivered to you.