Coined in 2013 by Aileen Lee from Cowboy Ventures, Unicorns refer to companies with a valuation of $1B or more.
Southeast Asia Unicorn Club. So far, SEA has minted a total of 52 unicorns! 2021 is the year with the highest number of startups reaching unicorn status — this includes Singapore's Ninja Van and Carro, and Vietnam's MoMo, just to name a few.
Geographical Distribution. Mirroring fundraising patterns based on geography, unicorns in SEA are primarily headquartered in Singapore (25) and Indonesia (16).
Sector Diversification. Although Fintech and E-commerce remain the most well-funded sectors, as the ecosystem matures, more capital is being injected into SaaS, Healthtech, AI, and F&B.
- As the ecosystem matures, funding based on sectors will likely become even more diversified!
Global Outlook. As of February 2023, there are over 1,200 unicorns around the world. So in the grand scheme of things, there is still massive potential for growth in SEA, especially as the digital audience continues to expand in the region.
Looking Ahead. In 2013, SEA had one startup that reached unicorn status, and the US had 39 unicorn startups. The tech world has come a very long way since then, and it will only get more exciting from here in SEA 🚀
Subscribe to our newsletter
The newsletter that keeps you up-to-date on the top stories on tech and business in Southeast Asia. It's fun, quick and free.
You're now subscribed to BackScoop. See you in your inbox!
Oops! Something went wrong while submitting the form.
