Forbes Asia's 30 Under 30
Entrepreneurs on this year's Consumer Technology list are leveraging AI in a variety of applications to provide solutions to everyday problems.
Friends Johnson Lim and Toh Ting-feng saw an opportunity during the pandemic, when people avoided public transport and demand for car-sharing services soared. The company's startup GetGo, founded in 2021, is currently Singapore's largest car-sharing service by revenue, with over 200,000 active users driving an average of three times a month from his 1,600 locations across the city. I'm booking a trip.
Lim is one of the entrepreneurs selected for this year's Asia's 30 Under 30: Consumer Technology list. They provide solutions to everyday problems through innovation while building sustainable businesses.
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Buying a car in Singapore costs a lot of money. For example, Toyota's hybrid sedan costs about $150,000, which is six times the retail price in Japan. This is because the government imposes high taxes to reduce the number of cars purchased. According to GetGo, customers may not own a car but may need one to run errands or take their children to their places. “Cars are expensive in Singapore, but people still need to drive,” says Mr Lim. GetGo has been profitable since its inception, with revenue in 2023 exceeding S$70 million ($51 million), up 50% year-on-year. The families of Mr Lim and Mr Toh (41) are involved in the automobile-related business, with Mr Lim and his wife involved in car financing, and Mr and Mrs Toh running a car rental business. GetGo primarily leases his 3,000 vehicles, the majority of which are supplied by his Tohs.
GetGo aims to expand its fleet to 10,000 vehicles by 2030. Trace, a Paris-based investment group, invested S$20 million in February 2023. Beyond Singapore, the company is also eyeing Seoul, Sydney, Taipei and Tokyo. “We are looking for cities like Singapore, which have a well-developed transport infrastructure,” says Lim.
AI lends a helping hand
This year's list also includes entrepreneurs who have developed AI-powered tools for use cases ranging from helping the visually impaired to identifying counterfeit goods and potentially saving lives.
Khush Jain learned about the challenges faced by visually impaired people while volunteering at a school in Bangalore in 2018. He co-founded ORAma AI, a company that developed a smart glove that helps blind and visually impaired people read Braille. Using AI, a built-in camera, and a speaker, the product tracks your finger movements and reads out the Braille dots you touch. Since its founding in early 2022, ORama AI has raised his $500,000 in funding.
IVA founder Yoshio Aihara
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Founded in 2019 by Yoshio Aihara and based in Tokyo, IVA offers Fake Busters, an AI-enhanced service for authenticating products sold online, from Air Jordans to Hermès bags. . It has received more than 1.5 million reviews, and investors including online marketplace Mercari have provided 800 million yen ($5.3 million) in funding so far. Prices for this service start at 550 yen ($3.67) for appraising items from customer photos or photos obtained online. Items sent starting from 3,300 yen come with an authenticity guarantee and a tag with the serial number of an authenticated item.
In Hong Kong, Joshua Chan, Max Lee and Jerry Ng co-founded LifeSparrow Solutions in 2022. The startup's AI technology focuses on search and rescue operations, especially related to hiking, a popular pastime in hilly cities. The system finds missing hikers by analyzing drone images of hiking trails, reducing search time by two-thirds. LifeSparrow raised his HK$2 million ($256,000) from Chan and Lee's alma mater, the Hong Kong Polytechnic University, and the Hong Kong government's Cyberport and Hong Kong Science Park.
improving education
Post-pandemic, the need for distance learning has decreased significantly, so several startups are now emerging that primarily enhance the offline educational experience.
For example, Strive co-founders Pulkit Agarwal and Tamir Shklaz aim to make math fun for kids through code. The Singapore-based startup teaches students how to code games, apps, and animations in a way that aligns with the math they study in school, such as coding the game Pong to learn about vectors, primarily through one-on-one online classes. is taught to students. Founded in 2020, Strive raised $1.3 million in seed funding led by Y Combinator early last year.
Zenith founder Evan Henn.
Photo provided
Another edtech entrepreneur on the list is Evan Heng, founder of Singapore-based Zenith Education Studio, which helps primary school students improve their English, math and science skills. The company offers a hybrid program that includes seven brick-and-mortar classes with a gamified online education platform. Zenith raised $1.4 million in seed funding led by Trihill Capital in July 2023 to fuel the expansion of the company, now called Zenith Learning Group.
–Additional reporting by Jonathan Burgos
Click here for the complete list of Asia's 30 Under 30: Consumer Technology 2024. Also, click here for the complete list of Asia's 30 Under 30 in 2024.
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