Four Philippine startups land in Forbes Asia’s ‘100 to Watch’ list
Four small companies and startups based in the Philippines made it into Forbes Asia’s “100 to Watch” list:
- ChatGenie, an e-commerce platform that launched in February 2020, is a sales channel that provides an automated ordering process and checkout experience via social media and messaging apps that are also integrated with mobile wallets and delivery services.
- CloudEats, a cloud kitchen company that launched in June 2019, prepares on-demand meals for numerous brands. Affiliated with various delivery services, CloudEats’ kitchens are located in non-retail, cost-efficient spaces with operations and layouts that are designed specifically for food delivery.
- Kalibrr, a job-matching platform founded in 2013, connects job seekers with companies and startups looking to hire talent. The company raised $7.5 million from Omidyar Network, Wavemaker, and Kickstart Ventures. It was the first Filipino company to be accepted by startup accelerator Y Combinator.
- PayMongo, a financial technology company that launched in June 2019, allows businesses in the Philippines to receive online payments through its payment platform, which can be integrated with the online business’s website and social media. PayMongo is backed by Y Combinator.
“Companies on the 100 to Watch list are making remarkable progress and impact in spite of the challenging climate brought on by the COVID-19 [coronavirus disease 2019] pandemic. Their inclusion on the list comes in part from addressing significant problems with innovative solutions,” said Justin Doebele, editor of Forbes Asia, in a statement on Tuesday.
The list includes private-owned, for-profit companies from various industries like biotechnology and healthcare, e-commerce and retail, food and hospitality, and education and recruitment.
The 900 submissions were evaluated by their impact on the region or industry, track records of revenue growth or ability to attract funding, business models or markets, and the persuasiveness of their stories.
Of the 17 Asia-Pacific countries and territories in the list, India and Singapore had the “liveliest startup communities” with 22 and 19 companies, respectively.
To qualify for consideration, companies had to be headquartered in the Asia-Pacific region, be at least one year old, privately owned, for-profit, and have no more than $20 million in its latest annual revenue or total funding through Aug. 1. — Brontë H. Lacsamana