The Philippines is making a name for itself as an emerging innovation hub in Asia, and the latest list from Forbes seals the deal. Nine Filipino startups landed on the Forbes Asia 100 to Watch list of 2023, which recognizes small companies and startups breaking ground in this corner of the world. The list spotlights those “targeting underserved markets or applying new technologies, from generative AI to blood-based cancer diagnostics.”
Thirteen countries across 11 categories were represented, with Singapore leading with the most contributed companies at 20, followed by Hong Kong and mainland China. Here are the nine stellar Filipino startups being hailed as the ones to watch in 2023.
LOOK: 9 Filipino Startups Land on Forbes Asia's 100 to Watch List
1. Edamama
Designed for parents, Edamama has become the go-to shopping platform for baby items and home goods. Founded by Bela Gupta D’Souza in 2020, Edamama’s internal philosophy is, “If we wouldn’t use that product on our own children, then we wouldn’t sell it. The startup has raised $35 million (P1.98 billion) in funding, and its investors include Alpha JWC Ventures, Foxmont Capital Partners, Gentree Fund, InnoVen Capital, Kickstart Ventures, and Robinsons Retail Holdings.
2. Kindred
Founded by registered nurse Jessica de Mesa and medtech entrepreneur Abetina Valenzuela, Kindred is a femtech catering to women seeking healthcare in the Philippines. It connects women to doctors via its virtual consultations and in-person clinic. As of July 2023, the startup is valued at $6 million (P340 million), and its investors include KSR Ventures, Pawikan Capital Group, Pulse 63 Healthcare Ventures, and Tenco Capital Holdings.
Photo by Kindred.
3. Kraver’s Canteen
Launched in 2020 during the pandemic, Kraver’s Canteen is a cloud kitchen operator with 11 facilities nationwide. It recently acquired a meal plan company, expanding its services to include pre-ordered meal plans. Founded by Victor Seunglee Lim, Eric Thomas Dee, and Victor Mapua, Kraver’s Canteen has raised $4.5 million in funding and counts Foxmont Capital Partners, Kaya Founders, Oak Drive Ventures, and Quest Ventures as investors.
4. Packworks
Created in 2018 to support sari-sari stores in the Philippines, Packworks offers small business owners an inventory management platform that collects sales data and provides easy data analytics. Founded by Bing Tan, Hubert Yap, and Ibba Bernardo, Packworks has raised $2.2 million in funding through investors ADB Ventures, Arise, CVC Capital Partners, Fast Group, IdeaSpace Foundation, and Techstars.
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5. Peddlr
Another small business enabler, Peddlr provides MSMEs with a point-of-sale application to track inventories, create accounting reports, create online storefronts, manage sales, and track expenses. Founded by Nel Laygo in 2021, Peddlr has raised up to $4.9 million in fundicng from its investors 500 Global, Crestone Venture Capital, Foxmont Capital Partners, January Capital, Kaya Founders, KDV Capital, NordStar Capital, Patamar Capital, Vulpes Ventures, and XA Network.
6. SariSuki
Connecting consumers directly with farmers, SariSuki is a social e-commerce platform that sells groceries directly from local farms, allowing customers to order fresh produce immediately. Founded by Brian Cu, Philippe Lorenzo, Bam Mejia, and Angelo Lee, the startup has reportedly raised $30 million in funding and its key backers include Credit Saison, Foxmont Capital Partners, Global Founders Capital, Kickstart Ventures, Openspace Ventures, JG Digital Equity Ventures, and Susquehanna International Group.
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7. Shoppable Business
Founded in 2022 by Carlo Silva, and Sam and Chris Blanquera, Shoppable Business aims to solve the inefficiencies of the local procurement process for business owners. The startup now works with over 1,400 suppliers and 300 buyer companies. Shoppable Business has raised $1.2 million from AHG Lab, Foxmont Capital Partners, and Seedstars.
8. Sprout Solutions
Founded by Patrick and Alexandria Gentry, Sprout Solutions is a SaaS startup that digitizes and automates HR processes, such as payroll, recruitment, analytics, and performance management. Its cloud-based HR technology services over 1,000 corporate clients and 180,000 active users. The startup has secured $18.4 million in funding, according to Crunchbase, and its key backers include Acceleprise, AFG Partners, Beenext, BridgeSEA Capital, Cercano Ventures, Endeavor, EM Ventures, GSR Ventures, Integra Partners, Kickstart Ventures, Mynavi, Point72 Ventures, and Wavemaker Partners.
9. TANGapp
Founded by Harvard alumna Rebecca Kersch, TANGapp is an online P2P payments startup focused on facilitating remittances from OFWs and the Filipino diaspora to family members in the motherland. TANGapp’s total funding is undisclosed but its key backers include Bolster Ventures, Foxmont Capital Partners, Goodwater, TEN13, and Visible Hands.
*This story originally appeared on Esquiremag.ph. Minor edits have been made by the Preview.ph editors.
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