Sixteen countries made this year’s list of Asia-Pacific’s rising small companies. Australia’s contingent raised close to $100 million between them, spanning green tech, biotech and enterprise software.
The 100 companies featured have raised a combined US$2.4 billion, including almost US$1 billion in 2026 so far.
Forbes Asia highlights AI-driven innovation as the dominant theme across the list, with close to a quarter of entries being enterprise technology firms offering AI-related services. Robotics is the other sector gathering pace, accounting for ten companies.
Yet Australia’s entries weigh more heavily towards green tech and biotech, a category Forbes Asia says remains in sharp focus, accounting for another ten companies across the list.
Australia was the equal sixth most featured country, level with Indonesia and behind India on 19, Singapore on 15, China on 10, and Japan and South Korea on nine each.
The eligibility criteria Forbes Asia employed were that companies be privately owned, headquartered in the Asia-Pacific, and carry no more than US$50 million in annual revenue and US$100 million in total funding as at 15 August.
Applied Electric Vehicles
Category: Energy & Green Tech
Founded: 2015 • CEO: Julian Broadbent
Started by a group of former General Motors executives, the Melbourne company builds driverless EVs for businesses operating in remote or dangerous conditions, spanning mining, industrial sites and cargo movement among them. In January, it raised $40 million in a series B round backed by the Australian government’s National Reconstruction Fund, Japan Post Capital, Suzuki Motor and Investible.
Cauldron Ferm
Category: Energy & Green Tech
Founded: 2022 • CEO: Michele Stansfield
The New South Wales biomanufacturer engineers microbes to ferment alternative proteins, food ingredients and bio-based chemicals, running the process continuously rather than in the batches conventional fermentation relies on. In March, it raised $13 million in a series A2 round led by Main Sequence Ventures, with Horizons Ventures also participating.
Cortical Labs
Category: Biotech & Healthcare
Founded: 2019 • CEO: Hon Weng Chong
Backed by Blackbird Ventures, Gobi Partners and Horizons Ventures, the Melbourne firm fuses living human neurons with silicon to build biological computers, an emerging field with potential reach into neurological drug testing and AI training.
Firmable
Category: Enterprise Technology
Founded: 2022 • Co-CEOs: Leigh Jasper, Paul Perrett
Firmable sells company and contact databases to sales and recruitment teams, flagging signals such as fresh funding rounds or leadership changes that suggest a target has money to spend or roles to fill. In March, it raised $9.7 million in a series A round led by AirTree.
Number 8 Bio
Category: Agriculture
Founded: 2021 • CEO: Tom Williams
The Sydney company makes a slow-release pill that sits in a cow or sheep’s stomach for months, redirecting the energy otherwise lost as belched methane into weight gain. In November, it raised $7.7 million in a series A round led by Icehouse Ventures.
Ovum Technology
Category: Biotechnology & Healthcare
Founded: 2022 • CEO: Ariella Heffernan-Marks
Founded by a medical doctor, Ovum is a chatbot-run health journal for women that turns logged symptoms, smartwatch data and pathology results into summaries to raise with a doctor. In June, it raised $2.8 million in a seed round led by Admiralty Capital Group, with Antler also investing.
TMRW
Category: Biotechnology & Healthcare
Founded: 2025 • CEO: Mark Britt
The Sydney platform pairs biomarker blood testing with telemedicine, giving subscribers online access to an in-house team of doctors and nurses for supplements and prescriptions. In March, it raised $5 million in a seed round led by Tidal Ventures.
Uluu
Category: Energy & Green Tech
Founded: 2021 • Co-CEOs: Michael Kingsbury, Julia Reisser
Uluu turns farmed seaweed and saltwater into a plastic substitute that breaks down at home or in the ocean, aimed at packaging, cosmetics, car parts and textiles. In October, it raised $11 million in a series A round led by Burda Principal Investments.
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