JFDI.Asia launches fifth start-up batch

The will bring the number of start-ups backed by JFDI to 50 across various tech-related industries, including online platforms, mobile applications, financial technology and internet-of-things (IoT).

Among the latest batch are: Geckolife, a social network for families; Oroscas, a online personal finance platform in the Philippines; Rush Bike, a motorcycle delivery logistics marketplace in Bangkok; and Pricify, an Indian fashion e-commerce product discovery app.

Hugh Mason, co-founder of JFDI.Asia, told AVCJ that of the 26 companies to go through the program between 2011 and 2013, 21 are still trading. They employ 200 people in a total and are collectively valued at about $40 million.

"In the next couple of months start-ups from our first batch are expected to announce their first Series A rounds," added Mason. "The biggest of those has around 30 employees across two countries."

Set up in 2011, JFDI is modeled on US accelerator Tech Stars. It looks for teams ready to take businesses from concept to early-stage investment. Every team selected is offered S$15,000 ($11,700) in cash plus working space. JFDI also claims to offer S$150,000 worth of mentoring and $300,000 in technical support and vendor perks.

Previous graduates from JFDI include Singapore e-commerce platform TradeGecko, which raised addtional rounds from Golden Gate Ventures in 2012, and medical records management service provider Klinifiy, which received further seed funding from Jungle Ventures in February.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Early-stage
• Technology
• Southeast Asia
• TMT
• Technology
• JFDI.Asia
• seed
• Singapore