Nine Philippine companies were included in Forbes Asia's 100 to Watch List in 2023, which highlights small companies and startups targeting underserved markets or applying new technologies.
According to Forbes, this year's list highlights small companies and startups that are targeting underserved markets or applying new technologies, from generative AI to blood-based cancer diagnostics.
Companies were chosen based on their positive impact on the region or industry, a track record of strong revenue growth or ability to attract funding, promising business models or markets, and a persuasive story.
Here are the Philippine firms that made it to Forbes Asia 100 to Watch List:
EDAMAMA
Targeting parents in the Philippines, Edamama’s e-commerce platform offers baby gear, home goods and other lifestyle products. Users on Edamama’s website or app can browse 1,500 brands and 26,700 products, according to the startup. To date, the startup has raised over $35 million in funding, and it launched an offline store in March.
KINDRED
Women’s health startup Kindred provides virtual and in-person clinical consultations to women in the Philippines. Patients can make appointments through Kindred’s website or app for specialties including gynecology, psychological health, fertility care, and vaccinations against sexually transmitted diseases. The startup claims its platform spans 80 doctors, and it’s completed 12,000 transactions to date.
KRAVER'S CANTEEN
PACKWORKS
Packworks’ inventory management platform helps owners of small convenience stores, known as “sari-sari” stores, collect sales data, record prices, and more. Based in Manila, Packworks works with over 270,000 businesses, according to the startup. It says it has raised a total of $2.2 million.
PEDDLR
Peddlr provides a point-of-sale application for micro, small, and midsized businesses to help them manage sales and expenses. Using Peddlr’s website or app, businesses can track inventory, produce basic accounting reports, and create a basic online storefront. The startup has raised a total of $4.9 million.
SARISUKI
Social e-commerce startup SariSuki sells groceries through its website and app, aiming to transform the Philippines’ retail landscape. Customers can register for an account to order fresh produce from local farms, which are distributed through Sarisuki’s designated resellers. The startup claims it’s garnered a total of $30 million in funding and served more than 800,000 customers.
SHOPPABLE BUSINESS
Shoppable Business aims to help businesses in the Philippines procure branded products by verifying their authenticity. The startup works with over 1,400 suppliers—spanning brands like Samsung, Adidas and Apple—and over 300 buyer companies, it says. Shoppable raised $1.2 million in a pre-seed funding round led by Philippines-based Foxmont Capital Partners and Switzerland-based Seedstars.
SPROUT SOLUTIONS
Sprout Solutions, a Manila-headquartered SaaS startup, provides cloud-based HR technology for Philippine businesses. The startup claims its website and app support payroll automation and data-driven analytics for employers and help them distribute salary advances for employees. It recently secured a $10.7 million series B funding round led by Cercano Ventures.
TANGGAPP
TANGGapp, an online P2P payments startup, facilitates international remittances from the U.S. to the Philippines. Users can sync their phone numbers with their TANGGApp account, allowing them to send and receive money from their other phone contacts. The startup claims its payment volumes have grown by 25 times since it launched three years ago.
For the complete list of firms included, check here.
