UCommune and TechNode will complement each other by forming an O2O technology ecosystem to connect China and the international community

TechNode, an online technology and entrepreneurship news platform in China, has closed pre-Series B funding round of “tens of millions of RMB”.

Leading co-working operator UCommune and investment firm XCGT Holding Group participated in the round.

With this funding, TechNode aims to increase its global outreach with international technology innovation as its core strategy, as well as accelerate the expansion of its international influence through media, branding, and data-sourcing.

The company also aims to become an innovation platform connecting global companies with Chinese innovation.

Also Read: The raging Amazon forest fires: Why businesses need to step up for climate change

Started in 2007 by Lu Gang, TechNode is an online platform that provided information on China’s tech and startup ecosystems. TechNode’s media is available in four languages: English, Chinese, Spanish, and Russian. Approximately 40 per cent of its millions of monthly readers resides in 160 countries and regions worldwide.

In 2018, TechNode expanded its core offerings to include six business units — TN Media, TN Inno (corporate innovation services), TN Global, TN Events (branding and event services), TN Data (startup ecosystem database), and TN VC (venture capital and financing services). Through these initiatives, it supports and connects the startup ecosystem between China and the rest of the world.

TechNode has worked closely with many key players in various industries, including CITIC Group, Fung Group, BMW China, Merck Group, andUnilever.

Synergy with UCommune

TechNode’s services, including industry consulting, entrepreneurship training, business incubation, and venture capital financing, are consistent with the needs of the UCommune customer base, according to a press release. Through this investment, the strategic cooperation between UCommune and TechNode will be strengthened. TechNode will help enhance UCommune’s dynamic and entrepreneurial innovation environment.

For international collaboration, UCommune and TechNode will complement each other by forming an O2O (online-offline) technology ecosystem to connect China and the international community.

Mao Daqing, Founder and Chairman of UCommune, said: “The strategic partnership between UCommune and TechNode will diversify our space offerings and accelerate the interconnectedness and innovation between domestic and international entrepreneurs.”

“TechNode’s strategy has always been global. Over the years, we have built a great reputation in the global technology industry. This partnership with UCommune will be built upon an online-offline global strategy to benefit the global innovation and tech ecosystem for both parties,” said Lu Gang, Founder and CEO of TechNode.

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Also, Singapore-based Pand.AI launches AI engine TE01, and Singapore-founded doctor network Docquity enters Japan, South Korea

Google announces Android 10’s official release [Press Release]

Google just announced the arrival of Android 10 that it says focus on everyday life-friendly
features powered by on-device machine learning and new technologies like Foldables and 5G.

Android 10 is said to have almost 50 changes related to privacy and security. Some of the highlights are:

Smart Reply that now suggests actions that allows integration with required apps such as maps for text that contains an address or YouTube for messages that have a YouTube video link shared

Single tap Live Caption that automatically caption videos, podcasts, and audio messages across any app, to be available in Pixel first before other Android devices

A new Privacy section under Settings that has all important controls like Web & App Activity and Ad Settings in one place.

Also Read: GOPAY becomes payment option in Google Play in Indonesia, reaching underserved market

New Digital Wellbeing settings, aimed at parents that can use these tools to set digital ground rules like daily screen time limits, device bedtime, time limits on specific apps, and more. They can also review the apps children install on their devices, as well as their usage.

Digital Wellbeing also brings a Focus mode that allows users to select the apps they find distracting—such as email or the news—and silence them until they come out of Focus mode.

Android 10 has begun rolling out to Pixel phones and can be accessed starting today.

Singapore-based NLP chatbots startup Pand.ai launches AI engine TE01 [TechGenyz]

Singapore-grown AI startup Pand.ai Pte. Ltd. announces the official launch of its AI engine, TE01. TE01 has the ability to generate Natural Language Processing (NLP) models that promise to cut error rate for intent classification by up to 25% while also significantly slow down NLP decay.

Pand.ai is deemed as one of the pioneers in the region when it comes to making Transfer-Learning based NLP chatbots commercial. After winning an open tender to build an AI chatbot for Great Eastern Life Singapore (GELS) with the prototype of TE01, there have been models generated using TE01 put into production ever since.

GELS also becomes one of the firsts to use TE01 engine in the form of an integrated AI chatbot GERICA, which can perform inquiries like claim status check and policy details.

The new TE01 engine is built based on Transfer-Learning, a specific NLP method, which was first published by the research community in mid-2018 and is believed to be a more elegant solutions compared to existing NLP methods.

Doctors’ network startup Docquity to expand operations into Japan, South Korea [Nikkei Asian Review]

Docquity, a social network for doctors based in Singapore, announces that it seeks to raise up to US$35M by last year to be able to penetrate North Asian market, including Japan, South Korea, and Taiwan.

Also Read: Medical professionals social network Docquity secures US$11M Series B funding

After closing US$11 million Series B round back in March, Docquity is now valued at US$50 million.

Docquity claims to have a user base of 110,000 registered professionals across Indonesia, Malaysia, Thailand, Singapore, and the Philippines. The company operates a private network, so that doctors can exchange medical notes and patient information more freely.

Next in the pipeline for the company is the launch search engine called “Dx” to analyse conversations and data on its platform to produce insights that are more relevant for its Asia-focused network and partners.

Traveltech platform Traveloka launches insurtech services [Kr-Asia]

Indonesian online travel platform unicorn Traveloka has expanded into digital insurance segment with Traveloka Protect.

In an official statement, the company said that it will offer “convenient insurance products at affordable prices”, which is a result of the partnership with insurance company Astra Life.

Users will be able to choose between six months or one year coverage period of premium and sum insured. Its lowest premium is IDR70.000 (US$ 5) for six-month coverage with the sum insured of IDR25 million (US$1,800).

Before tapping into digital insurance, Traveloka has already introduced a home protection insurance for users away for the holidays. It also launched a Schengen visa insurance aimed at Indonesian pilgrims planning to visit Europe.

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Providing an avenue for people to connect may be the edge that helps your business stand out

Whether it is the ease and convenience of Singapore, the vibrancy of Bangkok or the fun and sun of Manila, Southeast Asia is growing into one of the most important events regions in the world.

To prove this point, Cvent, an events-focused SaaS company, announced their top-25 Asian events destinations and the list is dominated by Southeast Asian cities.

Plus, it did not just include major hubs like Jakarta or Hanoi, it also included smaller places like Phuket (Thailand), Bali (Indonesia) and Pasay City (the Philippines).

Also Read: If you’re going to attend one event next month, let it be Echelon Roadshow 2019 Kuala Lumpur

Southeast Asia is one of the world’s fasting growing economic regions, so the events industry is certain to ride positive macroeconomic trends. While trade wars have created some headwinds, Focus-Economics predicts external economics will only provide a slight drag on growth.

This means that an already dynamic events industry should continue to see robust growth in the coming decade.

Global companies are also taking note, highlighted by Eventbrite’s launch in Singapore on February 2019.

The company justified the move by pointing to a “rich and growing events industry”, a “passionate community of events creators” and a consumer base that enjoys the diversity of events.

The region has a variety of service providers; making it easy to find traditional companies or startups that can help with vendor procurement, operations management and even filling a dope swag bag.

Plus — and this is important! — Southeast Asia boasts fantastic food that is sure to make guests salivate. An event is nothing without good food, and Southeast Asia is one of the best food regions in the world.

Why invest in events?

 Events are not simply a morale booster or a complicated networking activity, there is a lot of evidence that suggests they can make a direct, and positive, impact on a business.

According to Bizzabo, a software company, 41 per cent of respondents said offline events are the most important driver of business and 85 per cent said it is essential to their marketing strategy.

Furthermore, the study suggests the most lucrative strategy is to host events — rather than either attending or sponsoring. Yes, hosting an event takes more time and money, but the return is often much more valuable.

95 per cent of people from the Bizzabo survey said its a crucial opportunity to make deeper connections with their customers and 80 per cent of high-performing respondents plan to increase their events budget.

Somewhat ironically, it may be the increasingly digitalised nature of our work that makes events more attractive.

As people spend more and more time on their computers, they increasingly seek avenues for personal and professional connections. This means spending time attending conferences, corporate parties and educational seminars.

If someone is going out of their way to attend, for example, a coding event hosted by a local tech company, it is almost guaranteed they will spend a fairly significant amount of time researching the host company.

Also Read: This events startup takes team building up a notch with adventurous and thrilling activities

Assuming the event is a success, that business may suddenly find itself with a few more loyal customers and it will certainly keep old customers coming back.

These means Asia is a fantastic region for events

 Another important characteristic of doing business in Asia is that people place a lot of value on human-to-human interaction.

Often, a typical Asian consumer might choose a company because they know the team or had the opportunity to chat with the CEO.

Furthermore, if we also include the fact that small business has always been the backbone of Southeast Asian economics — and startups are making their name in the region — event management firms are becoming an absolutely essential part of running a company in the region.

No matter the motivation, event management is an incredibly important service operating in a high growth industry.

It doesn’t get much better than that, does it?

Don’t get left behind, make sure your business is, at the very least, making sure to invest time and energy investigating Asia’s event management industry.

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Image Credit: Jakob Dalbjörn

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Reefknot looks to invest in Series A- and B-stage startups in AI/deeptech, digital logistics, and trade finance

Reefknot Investments, a joint venture between Temasek Holdings and Kuehne + Nagel International (a Swiss transport and logistics company), has announced a US$50 million global fund, based in Singapore.

Headed by Managing Director Marc Dragon, Reefknot will seek opportunities in domains at the forefront of the supply chain and logistics industry, including Artificial Intelligence/deeptech, digital logistics, and trade finance. It looks to support the growth of Series A- and Series B-stage startups.

The first fund looks to invest in six to eight high-growth startups, globally.

Reefknot claims its portfolio companies will be able to leverage the business insights of Temasek, and the logistics and supply chain expertise of Kuehne + Nagel.

Also Read: 5 reasons to be bullish on logistics tech in Asia

“Driven by the combination of explosive global technology developments and growth especially in the emerging economies in Asia Pacific, companies across global value chains are increasingly re-evaluating business models as well as investing in technology to optimise capture of demand as well as improve cost and operational efficiencies. Reefknot is committed to shaping this development not just by investing in high-potential startups, but also creating a community of industry experts to support and sustain this growth,” said Dragon.

A Gartner report forecasts that at least 50 per cent of large global companies will be using AI, advanced analytics and IoT in supply chain operations by 2023. This alludes to growing investments in transformational technologies that will be critical to the competitiveness and success of organisations in the dynamic supply chain and logistics space.

Temasek and Kuehne + Nagel had earlier announced that they will accelerate the development of innovative businesses in the supply chain and logistics industry through a focused and long-term oriented investment strategy.

A blueprint for this vision includes the establishment of a Think Tank, which aims to synergise new business models and technologies. It will act as a launchpad for startups seeking to positively create value and impact for the supply chain and logistics industry.

Also Read: 5 reasons to be bullish on logistics tech in Asia

Reefknot is working leading venture ecosystem partners, including EDBI, SGInnovate, Atlantic Bridge, Vertex Ventures, PSA unBoXed, Unilever Foundry and NUS Enterprise.

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Rever plans to open 30 additional large experience centres within the next 18 months and expand into Hanoi and other coastal cities

GEC-KIP Technology and Innovation Fund (GEC-KIP Fund), a S$120 million (US$87M) venture fund launched last year by Singapore-based Golden Equator Capital and Korea Investment Partners, has invested US$2.3 million in Vietnam’s proptech platform, Rever.

The investment will help the Ho Chi Minh City-based startup to deepen its presence in the home country, where over 200,000 real estate transactions take place each year.

The proptech company plans to open 30 additional large experience centres within the next 18 months to better serve its clients and start expanding beyond Ho Chi Minh City into key markets such as Hanoi and other coastal cities, it said in a press statement.

The fund-raise will also further enable Rever’s continuous efforts in building on its technology, valuation engine, recruitment drive, and operations to improve customer experience and operational excellence.

This marks GEC-KIP Fund’s second investment into a proptech company in the region. In September 2018, it led a S$4 million (US$2.9 million) round in Singapore’s Ohmyhome.

Also Read: Temasek teams up with Swiss firm to launch a US$50M logistics fund in Singapore

Founded in 2016 by Manh Phan, former Marketing Director of Zalo, Vietnam’s #1 messaging and social platform, Rever has nearly 7,000 agencies and more than 100,000 hobbyist agents.

Rever works with real estate agents to provide tailored services to clients both for living and for investment, from the discovery process to the purchase. The company claims to have generated over US$1.5 million in revenues in 2018 and expects to triple it in 2019, having done almost 1,000 transactions year-to-date.

Minh Phan, Co-founder and CFO of Rever, said: “Real estate markets globally are seeing major shifts from the traditional way of transacting to more tech-enabled ways. Technology has enabled agents to serve more clients and more efficiently, helping buyers make the property selection and purchase process safer and helping sellers make the valuation and asset transfer process more expedient. With our investors’ support and network, we are well-poised for a more accelerated growth this year and become the market leader in Vietnam.”

Rever operates in both the primary and secondary real estate markets, allowing it to have a healthy revenue model and a 360-degrees view of the domestic real estate market. The company works with established real estate developers in Vietnam such as Keppel Land and Khang Dien and has helped support the sales of recently launched high-profile projects such as Empire City and Diamond Island.

Daren Tan, Managing Partner for Venture Investments at Golden Equator Capital, said, “We are bullish on tech-based next-generation service platforms that help bring efficiencies to traditional service industries, yet having offline touchpoints for better customer service and gaining trust. Existing case studies such as the decacorn Lianjia in China show that this hybrid offline-and-online proptech model can succeed in a very fragmented market like Vietnam. Alongside existing investors, we will provide Rever with the support to become the leading digital hybrid agency in Vietnam that offers an efficient and transparent experience to home buyers and sellers.”

Synclare Kim, Executive Director at Korea Investment Partners, will be joining Rever’s Board of Directors.

“The diverse background of the founding team at Rever and their extensive experience at some of the country’s largest tech players such as VNG and Grab, gives us confidence that the management is well-positioned to continue ramping up growth rapidly. We are looking forward to an exciting journey ahead with the team,” Kim said.

Rever’s investors for the previous rounds included Le Hong Minh, Founder and Chairman of VNG, Vietnam’s only unicorn; Phan Minh Tam, Founder and Chairman of 24h Group, the country’s leading news portal; and investment management firm VinaCapital Ventures.

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