More than 80 startups have graduated from the Topica Founder Institute. Some have gone to raise a combined of more than US$40 million

The seventh batch of the Topica Founder Institute (TFI) graduated and all of the six graduating startup companies received funding of US$50,000 from Insignia Ventures Partners. Three of them are in advanced stages of negotiation for further funding.

Started in 2011, more than 80 startups have graduated from TFI and some have gone on to raise a combined of more than US$40 million and together valued at US$300 million. The programme has been contributing to the growth of Vietnam startup ecosystem, with alumni that include Appota, Beeketing, Monkey Junior, Logivan, Kyna, Atadi, Hoayeuthuong, and Giaytot.

Yinglan Tan, founding Managing Partner of Insignia, said, “The eye-opener was our investment in Logivan, giving us a front-row seat to the TFI programme. It is a really efficient programme to weed out only the strongest founders, and with the comprehensive mentoring sessions to fine-tune the business model and idea of the founders, it ensures the right fundamentals are taken care of. Taking a risk in these young budding founders is what we do and we can’t be happier to have the opportunity to invest in them.”

This year’s graduating founders and their startups include:

Telepro
The startup wants to help companies create an on-demand culture for telemarketing. Telepro won the Echelon TOP100 Qualifiers Vietnam 2019, a top-10 Sao Khue Viet Nam 2019, and has raised US$500,000 as winner of Startup Funding Camp 2018.

Recruitery
Aiming to improve efficiency in talent acquisition utilising the trend of talent referral, Recruitery offers companies in Southeast Asia access to a network of top recruiters that have direct relationships with the talents they are looking for.

Also Read: Vietnam-based edtech startup Topica raises US$50M in Series D

CheepCheep
Founded by travel blogger and former An Ninh Hai Phong editor Anh Pham, CheepCheep aims to help independent travellers book attractions tickets and local activities at thousands of places of interests throughout Vietnam and Southeast Asia.

Drone Pro
The startup’s goal is to create new transportation solutions in a high-density urban environment. Its first product is a special delivery drone system that is able to deliver to high-rise apartment buildings. Such delivery is enabled through the platform’s ability to create a vertical mapping with its software.

Gigantec Media

Gigantec Media is a digital marketplace that aims to cater to the age-old industry of billboard advertising. The digital platform eliminates the manual, no-tech process that has traditionally defined the OOH advertising buying and selling experience. amongst which, reducing time from months to days. The marketplace matches advertisers’ requirements to optimal locations and inventories, with the right audience based on detailed demographics. It brings price transparency, ensure smooth running of campaigns, and provide analytics to evaluate the effectiveness of the campaigns.

Clavis Aurea
Clavis Aurea provides solutions for enterprises to increase productivity, reduce maintenance cost, and life cycle for asset and facility. The platform also helps enterprises increase the procurement process by connecting them more easily with suppliers. Solutions that help bring increased efficiency for enterprises are valued to be US$7 billion in Vietnam and more than US$25 billion in Southeast Asia.

Bobby Liu, Co-director of TFI, said: “The TFI 07 batch is special as it was the first-ever partnership with an institutional fund to support the graduating companies. Insignia Ventures Partners has been great, as they’ve helped in giving much insight to incubating good founders and startups. It will be interesting to see how quickly these companies will grow given the needed funding. I am very hopeful and positive that great things will come out of this collaboration.”

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Token developers are finding creative ways to use messaging apps to make cryptocurrencies and its underlying blockchain a way of life

Coinciding with the rise of smartphones and the growth of social media platforms in the early part of the decade was the emergence of messaging apps.

They’re seen as the successors of those web-based instant messaging platforms that were popular in the 2000s. Essentially the same concept, except the net messengers of today are ensconced in millions upon millions of smartphones in the pockets of over 3 billion people.  

As messaging apps were becoming the norm for communicating online, the developers behind them began adding new features to take advantage of the large audience.

While some of these features were still rooted in its core service of communication, such as video calls and chatbot integration, others expanded the capability of their messaging apps and enabled users to do more than simply chat with their friends.

Perhaps the most famous example of this expansion is WeChat, a Chinese messaging app that now has a myriad of other features within the app. This includes a mobile wallet, an e-commerce function, a suite of mobile-based games, and even a dating platform. WeChat has over a billion active users each month, and it is now commonly known as a “super app” for its multiple features beyond messaging. 

Messaging apps and crypto

One of the more unexpected examples of messaging apps containing non-messaging features is their integration with cryptocurrency. They have provided highly compelling use cases for one another. 

Beginning with discussion groups devoted to a token to actual peer-to-peer transactions over a messaging app, it has become apparent there is and will be a more and more intimate association between the two platforms. These integration efforts have made messaging apps play a critical role in the development of various cryptocurrencies, and crypto token developers have used messaging platforms to grow their businesses.

Here are a few ways messaging apps have made cryptocurrency a core part of their services:

Dedicated discussion groups

Of course, messaging apps became a prime enabler of conversations about crypto.

When cryptocurrency became a popular topic, many enthusiasts and first-time buyers flocked to messaging apps to look for other individuals that shared their interest. As most messaging apps allowed users to create groups or channels dedicated to certain topics, several were made that facilitated cryptocurrency discussions and even some that were focused on a specific token.

Also Read: AI and blockchain: new tech frontier or simply incompatible?

Privacy and security is the main driver. In fact, one of the most popular messaging apps, where crypto-focused discussions are prevalent is Telegram.

As the platform boasts of being more secure than other messaging apps, it has resonated with the cryptocurrency community, which puts a premium on the security provided by blockchain technology in their transactions.

It also enables a deeper level of privacy between potentially sensitive conversations, allowing discussions without the threat of external or even government interference.

Nowadays, it’s almost a standard for a new token developer to include a link to their dedicated Telegram channel on their website. The audience Telegram brings made it integral to launching a successful token sale. 

Creating their own tokens

Telegram’s popularity among crypto communities also stems from the platform’s developers being involved in the technology themselves.

It reportedly raised US$1.7 billion from a private sale of its Gram token, one of the largest coin offerings ever in terms of value. These funds are being used to create the Telegram Open Network, Telegram’s own blockchain where developers can build decentralised apps.

But Telegram isn’t the only messaging app getting into crypto. Canada-based Kik Messenger launched its Kin token in 2017, which can be used for transactions within the app.

The developers also use Kin as an incentive for Kik users for contributions made to the community as well as for watching in-app advertisements.

Also Read: 5 companies set to drive blockchain adoption in Asia

Other messaging apps are taking it a step further. Apart from creating the LINK token, the Japanese messaging platform LINE also has its own cryptocurrency exchange called BitBox, which it launched last 2018. It is also reported to launch another cryptocurrency exchange based in its home country called BitMax. 

Wielding crypto within messaging apps

On the other end, some cryptocurrency developers have integrated with messaging apps to expand the scope of their tokens. With crypto enthusiasts already familiar with messaging platforms, developers have found ways to use this to allow both messaging app and crypto users to derive a higher utility in using the services.

One of these developers is Singapore-based blockchain hardware developer Pundi X. In its mobile crypto wallet XWallet, it recently added functionality where users can send Crypto Gifts to their friends on Telegram.

Also Read: Trust : an essential component in the success of investment oriented blockchain projects

Similar to WeChat’s digital hongbaos or red packets, XWallet users can give cryptocurrencies for their friends to use, with the link being sent via Telegram. The XWallet also enables Crypto Gifts to be sent over group chats, allowing the user to set how many times their Crypto Gift can be opened.  

With these types of partnerships and integrations popping up, it is clear that the growth of the cryptocurrency space will continue to be heavily influenced by messaging apps.

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Image Credit: Oleg Magni

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Specialising in reformulation technology, Hoow Foods also receives funding from Innovate360, TRIVE Ventures, and other angel investors

Hoow Foods Pte Ltd, a food technology startup that specialises in reformulation technology, announces that it has closed a US$1.2 million (S$1.7 million) seed round led by local food and beverage heritage brand Killiney Group.

Joining the funding round are Singapore’s first government-backed food incubator Innovate360, TRIVE Ventures, and other angel investors.

With the injection of the seed funding investment, Hoow Foods said that it plans to develop and focus on its Research and Development and human resources.

It has said that the organisation’s key milestones would involve the development of a “more extensive range of innovative food products as well as staff strength expansion to strengthen its synergistic approach in the pharmaceutical and food sciences”.

Hoow Foods focusses on transforming indulgent foods into healthier versions while still retaining taste and texture.

It was founded by four alumni of the National University of Singapore.

Its products include Callery’s Ice Cream, low-calorie ice cream in a pint that contains more than 70 per cent lower calories, fat, and sugar.

Operating since 2018, Hoow Foods said that it will soon launch a healthier option of ice cream, coffee, snacks, and staple foods.

Also Read: Foodtech in Singapore through the eyes of startups

“A healthier lifestyle hits at the source of the problem, and a large part of it is diet. But food is emotional, and most would rather sacrifice health than their favourite food. We are confident to produce game-changing food products that do not sacrifice on taste and texture but also making it healthier at the same time.” said CEO and Co-Founder Ow Yau Png.

Png further explained that Hoow Foods have both pharmaceutics and engineering backgrounds in its team, and it hopes to change the way people consume food, and the food they consume.

Killiney Group is known for its start in a Hainanese coffee shop located on Killiney Road in Singapore. It now boasts over 100 outlets and establishments in the region.

Director of the Killiney Group, Woon Tien Yuan, said, “2019 marks Killiney’s 100th anniversary. We are constantly challenging ourselves to innovate and to enter new markets while staying relevant in the ever-changing F&B scene. Our investment in Hoow Foods is a big step forward for the Killiney brand. This strategic partnership allows Killiney to tap on Hoow Foods’ expertise in food technology and food formulation, which signifies Killiney’s strong belief in research and development.”

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Image Credit: Michelle Tsang on Unsplash

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In addition to Razer CEO, we also have updates from Facebook Indonesia, Volocopter, and Flipkart co-founder

Razer CEO to invest US$7.2M in Singapore gaming ecosystem – Tech In Asia

Razer CEO and Co-Founder Min-Liang Tan announced in a Facebook post that he will invest S$10 million (US$7.2 million) into Singapore’s gaming ecosystem over the next 12 months, Tech In Asia reported.

The investment is aimed to support e-sports teams and gaming companies that are either based in the country or founded by Singaporeans.

Part of the investment will also go to Team Singapore, which Razer is also supporting for the next SEA Games.

The company itself has recently held the Razer SEA Games Esports Bootcamp which saw the participation of teams from Singapore, the Philippines, Malaysia, Thailand, and Indonesia.

Facebook Indonesia names new Country Director – DailySocial

Facebook Indonesia today announced the appointment of Peter Lydian Sutiono as its new Country Director, DailySocial wrote.

His appointment was to replace the position of former Country Director Sri Widowati, who went on to become Chief Digital Transformation for Unilever Indonesia.

Prior to joining Facebook, Sutiono was the Managing Director of Dell Indonesia and Public Sector Director of Microsoft Indonesia. He was also the Managing Director of fintech startup Finmas.

Also Read: Razer to launch its e-wallet Razer Pay in Singapore

Flipkart co-founder to launch US$400M VC fund – The Times of India

Flipkart co-founder Binny Bansal is set to launch a venture capital fund with a target corpus of US$300-400 million, according to a report by The Times of India.

Citing two sources familiar with the development, the fund will target growth stage startups and is likely to be rolled out by the end of the year. It will be based in Singapore.

Having left Flipkart in November last year, Bansal will play the role of general partner and anchor investor in the fund.

In addition to targetting startups in India, the fund is also looking to investing in Southeast Asia.

Chinese automaker Geely to invest in flying-car developer Volocopter – Bloomberg

Zhejiang Geely Holding Group has agreed to invest in Germany-based flying-car developer Volocopter’s EUR50 million (US$55 million) funding round, Bloomberg reported.

Leading the funding round, Geely aims to help Volocopter’s air taxi launch commercially within the next three years. The companies had also agreed to set up a joint venture to bring the airborne cars to China.

Volocopter is also in talks to raise more funds by the end of the year.

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Image Credit: Razer

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