Asia’s top tech startups move beyond software towards physical AI
This includes deploying artificial intelligence across wind farms, warehouses and operating theatres
Artificial intelligence is spreading from software to physical applications as Asia's leading technology startups move beyond digital solutions. Over half of the 30 companies featured in this year's NextGen Tech 30 (NGT30) list from Singapore-based investment firm Granite Asia exemplify this trend. The NGT30, now in its third year, identifies and supports Asia's top growth-stage technology firms.
Jenny Lee, a venture capitalist and senior managing partner at Granite Asia, noted that this year's cohort is distinct in its shift toward tangible AI applications. These include using AI to monitor wind turbines, repair underwater vessels, and screen for cancer. Chee Hong Tat, Singapore's Minister for National Development, emphasized that these companies must demonstrate scalability and adaptability across various markets.
Singapore's role as a growth base has strengthened, with 42 percent of the honourees headquartered in the country, up from 18 percent in 2024. Singapore-based companies highlighted include Clobotics, Hummingbird Bioscience, Menlo Research, Tookitaki, and VeloDB. Among the honourees, a third are from Japan, a leader in AI applications for legal services, cancer diagnostics, healthcare software, and warehouse robotics.
With revenue growth exceeding 100 percent year on year, these companies may require substantial growth capital as they expand. Singapore's Ministry of Finance and the Monetary Authority of Singapore are working to bolster the growth capital ecosystem to facilitate these companies' scaling efforts.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
