This story appears in the August 31, 2021 issue of Forbes Asia. 

From underwater drones to satellite propulsion systems and everything in between, the inaugural Forbes Asia 100 to Watch list spotlights notable small companies and startups on the rise across the Asia-Pacific region. At a time when economies worldwide are struggling from the pandemic, these agile companies are on a growth path. Their inclusion in the list comes in part from addressing problems such as improving transportation in congested cities, expanding affordable connectivity in remote regions and preventing food waste. Seventeen countries and territories are represented. Top categories include biotechnology & healthcare, e-commerce & retail, food & hospitality and education & recruitment. The lively startup communities in India and Singapore produced 22 and 19 companies, respectively. Hong Kong has 10 and Indonesia eight. Mainland China has just four, as many candidates were above the required maximums for revenues or funding.

Edited by Jeanhee Kim with John Kang

Reporting by Jonathan Burgos, Rina Caballar, Ramakrishnan Narayanan, Danielle Keeton-Olsen, Amit Prakash, James Simms, Yue Wang and Ardian Wibisono.

 METHODOLOGY: To select the 100 to Watch, Forbes Asia solicited online submissions, and invited accelerators, incubators, SME advocacy organizations, universities, venture capitalists and others to nominate companies as well. The final 100 was selected from over 900 submissions. To qualify for consideration, companies had to be headquartered in the Asia-Pacific region, be at least one year old, privately owned, for profit, and have no more than $20 million in its latest annual revenue or total funding through Aug. 1. Forbes team evaluated each submission, looking at metrics such as a 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. The editors reserve the right to remove or replace any company or individual included in a list in light of any new information that would disqualify them from inclusion.

• Ackcio

• Singapore
• Category: Construction & Engineering
• Year founded: 2016 • CEO: Nimantha Baranasuriya
• Key backers: Foundamental, Seeds Capital, Wavemaker
• Ackcio produces automated geotechnical remote sensors that verify ground stability at construction sites. Its backers include Wavemak

• Agrist

• Japan
• Category: Agriculture
• Year founded: 2019 • CEO: Jyunichi Saito
• Key backers: Eneos Innovation Partners, Jafco
• Answering a critical farmer shortage in Japan, Agrist has applied for Japanese and international patents for its AI-driven robot harvester. It says it charges $15,000 for a three-year lease plus 10% of a harvest’s profits, and has raised over $4.5 million in capital.

• Alesca Life Technologies

• China
• Category: Agriculture
• Year founded: 2013 • CEO: Stuart Oda
• Investment banker-turned entrepreneur Stuart Oda’s Alesca works with customers worldwide to build indoor farms. The company says its base of turnkey farm equipment grew by 200% in 2019 and another 750% in 2020. It benefited from rising demand for local produce after Covid-19 disrupted food supplies and made consumers more health conscious.

• Algal Bio

• Japan
• Category: Biotechnology & Healthcare
• Year founded: 2018 • CEO: Amane Kimura
• Key backer: University of Tokyo
• Based on two decades of University of Tokyo research, Algal Bio says it cultivated 3,000 unique algae strains for use in biofuels, cosmetics, medicines and supplements. The company says it has raised $4.1 million in total funding, including from the university’s Edge Capital Partners, and expects to double sales this year to $1 million.

• Ampd Energy

• Hong Kong
• Category: Construction & Engineering
• Year founded: 2014 • CEO: Brandon Ng
• Key backer: HKSTP
• Using lithium-ion battery technology, Ampd Energy’s electric generators are said to power construction cranes while emitting less greenhouse gas and making less noise than traditional diesel generators. Ampd Energy says it launched its generators early last year and that they are already used by 20 property and construction companies, including Jardine Matheson’s Gammon.

• Aquaconnect

• India
• Category: Agriculture
• Year founded: 2017 • CEO: Rajamanohar Somasundaram
• Key backers: Rebright Partners, Flourish Ventures
• The Coastal Aquaculture Research Institute, operating as Aquaconnect, provides services for fish and shrimp farmers. In addition to a farm advisory and an online shop for equipment and supplies, Aquaconnect provides financing, insurance and a network for farmers to connect with potential customers. It says it raised $4 million in July in pre-series A funding led by Rebright Partners and Flourish Ventures.

• Aroma Bit

• Japan
• Category: Technology
• Year founded: 2014 • CEO: Shunichiro Kuroki
• Key backers: Seiko Epson, Kyocera
• A developer of chips to identify and digitize the data of scents, Aroma Bit released its first compact aroma sensor in January. Its uses include quality control for food products, health management and disease detection. The company’s backers include Japanese tech firms Seiko Epson and Kyocera.

• Authing

• China
• Category: Technology
• Year founded: 2019 • CEO: Xie Yang
• Key backers: GGV Capital, MiraclePlus
• In under two years, Authing says it has attracted investment from A-list investors including GGV Capital and MiraclePlus (previously called Y Combinator China) with its identity management tool. The product allows a single sign-on to multiple cloud-based applications, and protects against security breaches. Authing says its customers include China Merchants Bank, Toyota and Volkswagen.

• Autocrypt

• South Korea
• Category: Logistics & Transportation
• Year founded: 2019 • CEO: Daniel Kim
• Key backers: Hyundai, Ulmus Investment
• As self-driving cars rise in use, security for their computer systems becomes increasingly important. Autocrypt, a spinoff from Seoul-based Penta Security Systems, provides these cars with cybersecurity and data theft protection. Autocrypt says it has raised $15 million from investors including Hyundai’s venture arm and Ulmus Investment and is valued at about $45 million. The company expects to make $8.5 million in revenue this year, up from $3.4 million last year. Besides South Korea, Autocrypt says it has offices in Canada, China and Japan, and will expand to Europe, Singapore and the U.S.

• BeatO

• India
• Category: Biotechnology & Healthcare
• Year founded: 2015 • CEO: Gautam Chopra
• Key backers: Orios Venture Partners, Blume Ventures
• Health Arx Technologies’ BeatO is a platform for managing chronic diseases such as diabetes through subscription-based smart-phone monitoring, information and online supplies. Of its half-million app installs, nearly 300,000 are paid members with 25,000 joining monthly, according to BeatO. It says it recently raised $5.7 million and has partnered with a major insurer to expand beyond India.