100 Startups to Watch in Asia (Forbes Asia 100)

This year, Forbes Asia once again unveiled its prestigious list of 100 startups to watch across the Asia-Pacific. Despite a cooling venture capital environment, these young companies demonstrate resilience and innovation—leveraging technology, sustainable practices, and creative business models to thrive. The 2025 list features companies from 17 countries and regions, spanning industries such as enterprise technology, healthcare, green energy, consumer platforms, robotics, and finance. India leads the pack with 18 companies, followed by Singapore with 14, Japan with 14, China with 9, and Indonesia and South Korea with 8 each.

Below, we highlight the selected startups, organized by country.

Source: Forbes Asia 100 To Watch 2025

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Australia (7)

1. Blinq: A digital business-card platform enabling individuals and teams to share contact info via QR codes, NFC, email signature, etc., with CRM integrations.
2. EcoJoule Energy: Offers power-management products and software to improve grid stability—its EcoSTORE smart battery inverter and EcoVAR voltage regulator help utilities manage energy quality as rooftop solar adoption increases.
3. ElectraLith: ElectraLith develops a renewable-energy-powered, water- and chemical-free lithium extraction and refining technology for battery-grade lithium hydroxide.
4. Heidi Health: An ambient AI medical scribe automating clinical documentation so clinicians can spend less time on paperwork and more time with patients.
5. Neara: Neara creates virtual models of electricity distribution networks to help utilities predict and prevent outages from weather and other risks.
6. Sicona Battery Technologies: Develops next-generation anode materials (SiCx) combining silicon and carbon/graphite to boost lithium-ion battery energy density (~20% higher) and enable faster charging (~40% faster), while planning scale-up via licensing agreements and global expansion.
7. Unleash live: Unleash Live provides a cloud platform for analyzing live video from drones, CCTV, and mobile devices to deliver real-time operational insights.

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Bangladesh (2)

1. Pathao: Pathao is a Dhaka-based super app offering ride-hailing, delivery, e-commerce, logistics, and fintech services across Bangladesh and Nepal.
2. Shomvob: Shomvob is a Bangladeshi jobtech platform connecting job seekers with employers, offering digital profiles, training, and payroll management.

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China (9)

1. Base Therapeutics: Base Therapeutics is a Shanghai-based biotech company using gene-editing technologies to develop immune-cell therapies targeting advanced tumors.
2. BuilderX Robotics: BuilderX Robotics is a Beijing-based startup that retrofits heavy machinery with sensors and cameras for remote operation, enhancing safety at construction and industrial sites.
3. DexForce Technology: DexForce Technology is a Chinese startup that develops AI-powered 3D vision software and humanoid robots for industries like automotive, logistics, and home appliances.
4. HPMicro Semiconductor: HPMicro Semiconductor develops high-performance chips for industries such as automotive, consumer devices, power grids, and humanoid robots.
5. Immunofoco: Immunofoco develops immunotherapy treatments targeting solid tumors while protecting healthy tissues, and is preparing for Phase 2 clinical trials in China.
6. Linkerbot: Linkerbot develops dexterous robotic hands that mimic human finger movements for use on humanoid robots and industrial arms.
7. Noetix Robotics: Noetix Robotics develops humanoid robots, including its N2 model capable of running, jumping, and performing backflips, and plans to sell 2,000 units this year.
8. Startorus Fusion: Startorus Fusion, based in Xi’an, is developing a nuclear fusion power plant to produce clean energy by 2032, with $70M raised from investors including HongShan, Innoangel Fund, and Shunwei Capital.
9. Yanhuang Guoxin: Yanhuang Guoxin develops power-management semiconductors for industries like aerospace, automotive, and telecoms, with $42 million raised to date.

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Hong Kong (4)

1. GenEditBio: GenEditBio develops gene-editing therapies for rare diseases, including GEB-101 for stromal corneal dystrophy, delivered via a proprietary eye-targeted system.
2. KPay: KPay, headquartered in Hong Kong, provides online and offline payment solutions for small merchants across 18 currencies, serving around 60,000 clients in Hong Kong, Singapore, and Japan.
3. Phase Scientific: Phase Scientific develops at-home diagnostic kits for infectious diseases, HPV, pregnancy, and ovulation, raising $57 million to date.
4. Varadise: Varadise provides digital twin and analytics software for construction and infrastructure projects through its Cosmos platform, raising nearly $3M for regional expansion.

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India (18)

1. Cloudphysician: Cloudphysician is an Indian healthtech startup providing AI-powered ICU monitoring software, AINA, to detect patient risks and alert medical staff.
2. Eeki: Eeki is an Indian agtech startup using aeroponic and hydroponic systems to enable sustainable, year-round farming in arid regions.
3. Finnable: Finnable is an online personal loan provider in India, using proprietary algorithms and analytics for fast approvals and flexible repayment options, serving over 250,000 customers.
4. Foxtale: Foxtale is an Indian skincare brand offering moisturizers, serums, cleansers, and sunscreens tailored for local skin types, with over 1.5 million customers.
5. GalaxEye: GalaxEye, an Indian spacetech startup, develops observation satellites like its Drishti Mission to capture all-weather Earth imagery.
6. Lokal: Lokal is an Indian social media and content app delivering hyper-local news, jobs, and community updates in multiple regional languages, reaching over 50 million downloads.
7. Neysa: Neysa is an Indian AI startup offering a cloud platform for training, testing, and deploying AI models, with subscription services like data encryption and network monitoring.
8. Orange Health Labs: Orange Health Labs provides at-home diagnostic testing services in India, partnering with clinics and Amazon India to deliver rapid health check results.
9. Propelld: Propelld provides “Study Now, Pay Later” education loans and income-sharing agreements for students in India, partnering with over 4,000 institutions, and raised $30M in Series D funding.
10. Rocketlane: Rocketlane provides project management and automated customer onboarding tools for business teams, raising $45M to date, including a $24M Series B.
11. Rozana: Rozana enables remote village residents in India to buy daily essentials through local sellers (“saarthis”), raising $22.5M in March 2024 to expand its network beyond 19,000 villages.
12. Scimplify: Scimplify digitizes specialty chemical sourcing and regulatory workflows for industries like pharma and food, connecting buyers with 230+ manufacturers across 15 countries; it raised $40M in March 2025 to fuel global expansion.
13. SolarSquare: SolarSquare, headquartered in Mumbai, provides end-to-end rooftop solar solutions for homes and businesses across 20 Indian cities, raising $40M in a Series B led by Lightspeed Venture Partners.
14. Sweet Karam Coffee: Sweet Karam Coffee offers South Indian snacks, sweets, and filter coffee with clean-label ingredients, raising $8M in a Series A led by Peak XV Partners.
15. Tricog Health: Tricog Health provides AI-powered cardiac diagnostic tools, like InstaECG and InstaEcho, for early detection and remote management of heart conditions, backed by $30M in funding.
16. Vecmocon Technologies: Vecmocon Technologies develops intelligent software and compatible hardware for electric vehicles, raising over $23M to date, including an $18M Series A.
17. WickedGüd: WickedGüd produces healthier noodles, pastas, and snacks free from refined flour, palm oil, and preservatives, backed by investors including Orios Venture Partners, Titan Capital, and Shilpa Shetty.
18. ZYOD: ZYOD provides AI-powered apparel manufacturing solutions, helping brands manage sourcing, sampling, and production, with $21.5 million raised to date.

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Indonesia (8)

1. BRIK: BRIK is an Indonesian construction materials startup providing green cement, heat-reduction paints, and other supplies with streamlined online ordering and delivery.
2. Esensi Solusi Buana: Esensi Solusi Buana (ESB) provides POS, ERP, and online ordering systems for Indonesia’s F&B industry, serving over 30,000 merchants, including Starbucks and Genki Sushi.
3. Monit: Monit is an Indonesian fintech startup providing corporate debit cards and an expense-management platform that offers real-time spending visibility and automated reporting for businesses.
4. Rekosistem: Rekosistem provides digital waste management services in Indonesia, helping users track, sort, and recycle waste while supporting ESG compliance, and raised $7M in Series A funding.
5. Ringkas: Ringkas is an Indonesian fintech that streamlines mortgage applications and transfers using AI-driven credit and KYC checks, raising $5.1M in pre-Series A funding.
6. Se’Indonesia: Se’Indonesia is a fast-food chain serving traditional smoked meat dishes (se’i) across Java, selling 2M meals monthly; it raised $9.7M in April 2025 to expand offline outlets and regional presence.
7. Skor Technologies: Skor Technologies’ Skorlife app helps Indonesians manage finances and credit scores; it raised $6.2M in January 2025 to expand services, including its Skorcard credit card with Bank Mayapada.
8. Torch: Torch is an Indonesian brand of affordable travel accessories, expanding its retail presence with funding from Init 6 to target 50 stores and $70M revenue by 2029.

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Japan (14)

1. Aeterlink: Aeterlink is a startup developing wireless power transfer technologies for applications in factory automation and building management.
2. Asuene: Asuene is a startup providing a cloud platform for CO₂ emissions management and carbon accounting to help companies reduce their carbon footprint.
3. bitBiome: bitBiome is a biotech startup using AI and single-cell sequencing to catalog microbial genomes and develop enzymes for pharmaceuticals, cosmetics, and other applications.
4. Enecoat Technologies: Enecoat Technologies is a Kyoto-based startup developing high-efficiency perovskite solar cells that generate electricity even in low-light conditions.
5. Fivot: Fivot is a Japanese fintech offering IDARE for personal savings and Flex Capital for AI-driven startup loans, delivering funding in just 3–10 business days.
6. Gaianixx: Gaianixx, a Tokyo University spinout, develops advanced semiconductor stacking technology to create more powerful and cost-effective chips.
7. Kauche: Kauche is a social commerce app in Japan that offers discounted products to group buyers, using AI recommendations for product discovery.
8. KG Motors: KG Motors, based in Hiroshima, is developing Mibot, a compact one-seat EV designed for short trips on Japan’s narrow streets, especially for the aging population.
9. LexxPluss: LexxPluss, based in Kawasaki, develops autonomous mobile robots like the Lexx500 and LexxTug to address Japan’s labor shortage in logistics and material handling.
10. Loglass: Loglass is a Tokyo-based SaaS company providing AI-driven tools for sales, budgeting, and personnel analytics to streamline business planning.
11. Notta: Notta develops AI-powered transcription software that converts speech into text in 58 languages, generates meeting summaries, and offers insight-generation features.
12. Oceanic Constellations: Oceanic Constellations develops maritime drone networks and software to provide real-time oceanographic data for shipping, weather forecasting, and disaster prevention.
13. Pale Blue: Pale Blue develops water-plasma propulsion systems for small satellites and has successfully tested its engines in orbit, raising $30.6 million to date.
14. Utaite: Utaite creates “2.5D” entertainment content that combines anime and live performances, enabling artists like Kohana Lam to engage fans virtually, with $84M raised to date.

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Malaysia (2)

1. Soft Space: Soft Space, based in Kuala Lumpur, provides contactless mobile payments and e-wallet services through its SoftPOS platform; it raised $31.5M in 2023 to expand internationally, including Japan.
2. Versa: Versa offers a digital wealth-management platform in Malaysia for conventional and Shariah-compliant investments, raising $6.8M in Series A funding.

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New Zealand (2)

1. Hnry: Hnry is a New Zealand-based accounting and tax automation platform for the self-employed, offering invoicing, expense tracking, and filings with pay-as-you-go services.
2. Onside: Onside provides an app that helps agribusinesses manage biosecurity and safety by tracking staff and visitor movements across farms in New Zealand and Australia.

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Pakistan (2)

1. Haball: Haball is a Pakistan-based B2B fintech providing Shariah-compliant supply chain financing, digital invoicing, and payment services, having processed over $3 billion to date.
2. PostEx: PostEx is a hybrid logistics and fintech company in Pakistan, enabling cash-on-delivery e-commerce payments and merchant cash-flow management, with $7.3M raised for Middle East expansion.

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Philippines (3)

1. Enstack: Enstack is a Philippines-based startup offering an AI-powered platform for SMEs to create and manage online stores, including design, product descriptions, invoicing, and shipping.
2. Netbank: NetBank is a Philippine fintech providing digital banking services—loans, payments, and disbursements—serving clients like Smart Money, TikTok, and Lazada.
3. Xpress Super App: Xpress Super App provides ride-hailing, delivery, courier services, and digital payments, with a growing green fleet and over 100,000 app downloads.

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Singapore (14)

1. Aether Fuels: Aether Fuels is a Singapore-based e-fuels startup converting waste carbon feedstocks into sustainable aviation and shipping fuels.
2. Aevice Health: Aevice Health is a medtech startup producing wearable, non-invasive devices like AeviceMD to monitor respiratory and heart health remotely.
3. AlphaLife Sciences: AlphaLife Sciences is a healthtech startup offering AuroraPrime, a cloud platform that automates medical writing for clinical and regulatory documents.
4. Augmentus: Augmentus is a startup creating AI-powered industrial robots with vision systems and AutoPath software for easy, code-free operation.
5. Cinch: Cinch is a Singapore-based startup offering Device-as-a-Service subscriptions for smartphones, laptops, and tablets, including refurbishing, repair, and recycling.
6. Finmo: Finmo is a B2B platform offering global payments and treasury management, including real-time payments, FX risk management, and automated compliance, operating across multiple countries.
7. HPC-AI Tech: HPC-AI Tech is a high-performance computing startup that accelerates deep learning training through platforms like Colossal-AI and Open-Sora, supporting scalable AI software and video generation.
8. Little Farms: Little Farms is a Singapore-based retailer offering natural, organic, and ethically sourced groceries and eateries, emphasizing a “no nasties” approach.
9. Locad: Locad is a Singapore-based logistics startup providing AI-powered warehousing, fulfillment, and global shipping solutions for e-commerce brands.
10. Nuevocor: Nuevocor develops therapies for genetic cardiomyopathies, including its NVC-001 treatment for LMNA DCM, and recently received FDA clearance for Phase 1/2 trials.
11. Prefer: Prefer produces bean-free, caffeine-free coffee alternatives from upcycled food waste using a proprietary fermentation process, and has raised $6.2M to expand product lines.
12. Supermom: Supermom is an AI-powered social commerce platform connecting brands with parents in Southeast Asia, raising $14M in a Series B led by Granite Asia.
13. Venti Technologies: Venti Technologies develops self-driving solutions for autonomous vehicles in complex environments, raising $28.8M in Series A funding.
14. WatchTowr: WatchTowr provides automated cybersecurity risk detection and prevention solutions, raising $29M in funding across three rounds.

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South Korea (8)

1. Aetech: Aetech is a South Korean startup that develops AI-powered recycling robots to automate waste sorting and boost recycling efficiency.
2. Aimed Bio: Aimed Bio is a biotech startup developing antibody-drug conjugates (ADCs) for targeted cancer therapy, spun off from Samsung Medical Center.
3. BANF: BANF develops tire-mounted sensors with real-time monitoring and predictive analytics to improve road safety.
4. Datumo: Datumo provides AI model evaluation and training data solutions, including its flagship product Datumo Eval for LLM validation.
5. EverEx: EverEx is a healthtech startup offering AI-powered remote rehabilitation for musculoskeletal disorders through its app, MORA Cure.
6. Flex: Flex is a Seongnam-based startup that provides HR software to streamline workforce management and is developing AI-driven tools for promotions and salary planning.
7. MedySapiens: MedySapiens is a healthtech startup using AI-powered genomics to rapidly diagnose rare genetic diseases in newborns.
8. Qunova Computing: Qunova Computing is a South Korean startup developing quantum software for industries like chemicals and pharmaceuticals, with its HiVQE algorithm integrated into IBM’s Qiskit.

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Taiwan (3)

1. FaceHeart: FaceHeart is a Taiwanese healthtech startup that uses AI to measure vital signs contactlessly through video analysis of a patient’s face.
2. Health2Sync: Health2Sync is a Taiwanese healthtech platform that helps diabetes patients track vital health metrics and share data with their doctors.
3. MetAI: MetAI is a Taiwanese startup that transforms 2D warehouse floor plans into interactive 3D environments for logistics visualization and planning.

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Thailand (2)

1. Sleek EV: Sleek EV is a Thai electric motorcycle manufacturer providing smart urban scooters and a nationwide fast-charging network.
2. UniFAHS: UniFAHS is a Bangkok-based biotech startup using phage technology to develop feed additives that combat foodborne pathogens in livestock and aquaculture.

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Vietnam (2)

1. AI Hay: AI Hay is a Vietnamese edtech startup offering an AI-powered chatbot and app that helps students with assignments and learning through step-by-step guidance.
2. Kamereo: Kamereo is a Vietnamese B2B food supply platform connecting restaurants and retailers with producers, offering integrated logistics and inventory management.

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(Source: Forbes Asia 100 To Watch 2025)