While start-ups in the West continue to innovate, Asia is keener offer solution to problems that are unique to the local population. This results in fast growth and increase in international investment. China, for instance, has the best start-up ecosystem in Asia and among the top 10 Unicorn start-ups in the world, 4 are Chinese. Here we focus on 10 top start-ups in China.
- Xiaomi
Founded in 2010, Xiaomi is the world’s 4th largest smartphone making company. It designs, develops and sells smartphones, apps, laptops and other consumer electronics. Lei Jun is the Founder and CEO. It’s valuation of $46 billion makes it the highest valued start-up in China, and thus, number 1 on the list.
- Didi Chuxing
Didi Chuxing provides transportation to over 300 million people across 400 cities in China. This 2012 born start-up is headquartered in Beijing and the largest ride-sharing company in the world. Its valuation is approximated at $33.8 billion.
- Lu.com
Lufax or commonly known as Lu.com is a 2011 born online financial marketplace based in Shanghai, China. It’s valuation is $18.5 billion.
- China Internet Plus
China Internet Plus aka Meituan-Dianping is the result of merger between Meituan and Dianping. Meituan is a Chinese group discount platform and Dianping is location-based dining information and group-buying website. China Internet Plus is valued at $18 billion.
- DJI Innovations
Founded in 2010, DJI Innovations is a drones and aerial photography systems manufacturing Chinese tech start-up. It has been acclaimed by The Economist as the leading company in civilian-drone industry. The company’s valuation is $10 billion.
- Zhong An Insurance
Zhong An Insurance is the first completely digital insurance company in China. It’s one of the top start-ups in China and valued at $8 billion. Morgan Stanley, SAIF Partners and CDH Investments are some of its prominent investors.
- Lianjia
Lianjia or Beijing Homelink Real Estate Brokerage Co. is a leading online platform facilitating rental and second-hand real estate transaction for its Chinese population. It’s valued at $6.2 billion and Tencent, Baidu and Huasheng Capital are some of its big prominent investors.
- Ele.me
To put it simply, Ele.me is a Chinese counterpart of Zomato. Its app and website enables users to search nearby restaurants and place orders. Unlike Zomato, Ele.me doesn’t offer delivery support. The start-up is valued at $4.5 billion.
- Royole Corporation
Founded in 2012, Royole Corporation is based in Shenzhen, Hong Kong, California and Silicon Valley. They develop innovative display technologies and related electronic products. The start-ups valuation is around $3 billion.
- VANCL
VANCL is a Chinese online direct sale company offering men’s and women’s apparels and other lifestyle products. The company is valued at $3 billion.