Among Antler’s investments are BorderDollar, which is building an invoice financing platform for cross-border logistics, and CapGo, which automates data acquisition for market research. Other startups like Zolo and Seafoody are using AI to solve problems in Southeast Asia’s food supply chain infrastructure. Salovaara highlights that building a vertical AI startup comes with its own challenges, such as assembling the right team and acquiring the right data for training. However, once established, these startups can build a deep competitive moat, especially in a region where competing with Silicon Valley's talent and funding infrastructure is challenging.
Key takeaways:
- A growing number of vertical AI startups are emerging in Southeast Asia, serving a variety of sectors from seafood to finance.
- Singapore-based venture capital firm Antler has recently invested $5.1 million in 37 of these startups, including a strategic partnership with Khazanah, Malaysia’s sovereign wealth fund.
- These startups are focusing on solving practical problems in different industries, with a customer-first approach to AI apps, addressing pain points unique to different sectors and markets.
- Antler's portfolio includes startups like BorderDollar, CapGo, Zolo, Seafoody, and Coex, all of which are using AI to optimize various industry processes and build a deep competitive moat.