Standard Chartered opens second eXellerator in Hong Kong- Press release
Standard Chartered opened its second eXellerator innovation lab in Hong Kong to inculcate an innovative culture across the Bank and to engage the fintech ecosystem to develop innovative solutions that meet the evolving banking needs of clients.

eXellerator will focus on leveraging emerging technologies and co-creating solutions for corporate, commercial and institutional banking clients. It aims to become a focal point for engagement with the stakeholders of the Hong Kong fintech ecosystem like regulators, government-backed organisations, business partners, clients, and technology companies.

Alex Manson, Global Head of SC Ventures, said: “The new eXellerator lab location in Central gets us to the heart of it [Hong Kong’s fintech ecosystem] and we look forward to many more engagements and partnerships.”

OBOR Capital invests in Cambodia’s Delishop.Asia- Press release

OBOR Capital closed an early-stage equity fundraising deal with Delishop.Asia, an online supermarket that is set to transform online shopping experience in Cambodia.

Funds raised will be utilised for developing a more user-centric and scalable web portal, as well as Android and iOS Apps, which are scheduled to be launched by the end of the year. They will also develop backend technologies for supply-chain management.

Additionally, funds will be used to purchase new motorcycles and to cover driver-training programmes as Delishop.Asia scales its business within Phnom Penh and towards newer frontiers in Cambodia.OBOR Capital’s investment includes fresh capital injection and acquisition of secondary shares.

OBOR Capital’s portfolio company CamboTicket has also acquired a minority stake in the business. As part of the deal, OBOR Capital and CamboTicket will provide strategic support to Delishop.Asia in some key functional areas.

Julien Nguyen, CEO, and Founder of Delishop.Asia exclaimed: “I am very excited to partner with OBOR Capital for our next phase of growth. The funds will be used to strengthen our team, offer more top quality products and improve user experience. OBOR Capital’s hands-on approach towards its investments is what we are looking for in an investor at this stage of our company’s lifecycle.”

Also read: Asia is giving the West a run for its money says Alex Manson of Standard Chartered’s investment arm

TikTok owner ByteDance to ramp up global operations before IPO- DealStreetAsia

ByteDance, owner of the popular video app TikTok is focused on hiring staff to beef up its international operations before considering an initial public offering in the US or Hong Kong in the near future according to a DealStreetAsia report.

It is considering Hong Kong as a listing destination but any float remains a long-term objective given ByteDance remains well-funded and still needs to hire a chief financial officer, the people said, stating its a private matter. On Tuesday, the company denied a Financial Times report that it planned a Hong Kong IPO in the first quarter.

One of the perennial issues for investors is its lack of a Chinese news-publishing license, which the company is trying to overcome by strictly adhering to news aggregating and diversifying into short video entertainment apps. ByteDance is unlikely to rush into an IPO in the middle of a bitter trade war and rising scrutiny from Washington.

Two US senators have urged investigations into TikTok, calling it a national security threat. “TikTok is a potential counterintelligence threat we cannot ignore,” Republican Senator Tom Cotton and Senate Minority Leader Chuck Schumer said in a letter Thursday to Acting Director of National Intelligence Joseph Maguire.

Alphabet in bid to buy Fitbit

Google owner Alphabet Inc has made an offer to acquire US wearable device maker Fitbit said Reuters. Google has joined Apple and Samsung Electronics in developing smartphones, but it has yet to develop any wearable offerings. Fitbit’s fitness trackers monitor users’ daily steps, calories burned and distance traveled. They also measure floors climbed, sleep duration and quality, and heart rate.

There is no certainty that the negotiations between Google and Fitbit will lead to any deal, the sources said, asking not to be identified because the matter is confidential. The exact price that Google has offered for Fitbit could not be learned.

Google and Fitbit declined to comment. Nevertheless, Fitbit shares rose 27% on the news, giving the company a market capitalization of $1.4 billion. Alphabet shares rose 2% to $1,293.49.

A deal for Fitbit would come as its dominant share of the fitness tracking sector continues to be chipped away by cheaper offerings from companies such as China’s Huawei Technologies Co Ltd and Xiaomi Corp (1810.HK).

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Orange you glad Apple cares about education?

Are you familiar with the three apples that changed the world?

First, the forbidden fruit from Adam & Eve’s story, then the apple that gave Newton a concussion (and later, gravity), and lastly Steve Jobs’ half-bitten apple.

Although in retrospect, the people wielding the fate of these apples were more responsible for the changes than mere fruit.

For optimists, it’s apparent that we hold the reins of our own future — albeit unknown — and technology is just a tool we need to navigate through this unknown future. Therefore, immersing it into our education system is vital and urgent.

Recently, e27 sat in for Apple’s Edtech talk centred around how education policies, institutes and new collaborative initiatives could help Singaporean students develop the digital skills they needed to succeed in the future workforce.

Apple was represented by Lisa Jackson, the VP of environment, policy and social initiatives. Guests included Professor Chong Tow Chong from the Singapore University of Technology and Design (SUTD), Helen Souness from RMIT online, Denise Phua from Pathlight School and Ong Ye Kung, Singapore’s Minister for Education.

Here’s what we gathered from the event.

Autism and coding

It’s clear that the world is rapidly changing, but the fact that it’s still a ‘world’ remains constant.

A ‘world’ encompasses all the people and societies of the earth — including the special needs community. And, the future does not discriminate. Everyone, regardless of background, will need to be prepared for it.

Pathlight School recognises this and seeks to future-ready its autistic students for the demands of an ever electrifying, ever ‘technifying’ world.

Arm-in-arm with Apple certified trainers, the school will run the Swift Accelerator programme for a selected group of students aged 13-18. The 144-hour coding programme will help deepen the skills and competencies of these interested and talented students.

Pathlight also has its six-year-old IT & Design Academy that was launched to stimulate students’ natural interest and aptitude for IT. The programme exposes students, as young as seven, to ICT skills via a slew of engaging techniques like learning to code with angry birds or expressing creativity through design and digital media.

Denise Phua said that Pathlight strongly advocates for the “nobody left behind” rule and that they are very heartened by this thoughtful and inclusive collaboration with Apple.

“Not just to survive, but to thrive” were Denise’s passionate parting words that fully encapsulated Pathlight’s strong conviction and commitment to upskilling its students for the digital age.

Advancing the curriculum

Education-meets-technology has to be the greatest crossover since The Jeffersons met The Fresh Prince of Bel-Air.

Tech is woven so intricately into the fabric of our lives that not being able to comprehend it would mean missing out on a major part of the esteemed human experience.

Mr Ong Ye Kung compared the digital language to English, explaining that digital literacy was a growingly significant mode of communication. He stressed that in order to enjoy a pleasant co-existence with technology, we had to “demystify it” first — and we all know that impressionable young minds are the perfect busting grounds for myths.

Also Read: Hostel startup Tribe Theory secures US$739,165 seed funding from Aurum Investments

Echoing his sentiments was Ms Lisa Jackson as she described coding as the “language of the future” and a skill that should be accessible to everyone.

Coupling the thought of accessibility with the pressing need for technological intervention, the Ministry of Education has partnered with Apple to see through programs like Everyone Can Code, Swift, Swift Playgrounds and even Teacher Guides. These programmes are all engineered to ease coding into the classroom setting for the benefit of both student and teacher.

In particular, App Development with Swift has been newly expanded across more schools in Singapore for students to build iOS apps from scratch. This presents a huge opportunity for budding app designers to cash in on a market that virtually enables their ideas to reach millions.

Everyone should have the opportunity to change everything and Edtech provides just that.

Adapting to the world

“Wisdom is not a product of schooling but of the lifelong attempt to acquire it”. This is a communal principle that Einstein and the many adults who are avidly interested in app design and development share.

Fortunately, SUTD has joined up with Apple and Skillsfuture Singapore to design two short courses that will cater to the pool of keen adult learners.

Just how short are they?

Also Read: This Singapore healthtech company just raised US$25 million for APAC expansion

In five days, the Swift App Development Fundamentals course can turn rookies to basic app designers. Also, the Augmented Reality with ARKit programme can take app designs to a whole new level in half a week.

SUTD looks forward to humanising advanced technology and helping working adults embrace digital transformation for enhanced employability under this collaborative move.

In tandem with SUTD’s mission to enhance employability, RMIT online will be expanding its successful iOS App Development with Swift course to Singapore. The course, jointly spearheaded by Tigerspike and Accenture, will offer self-paced opportunities for mid-career professionals to learn coding.

Speaking eagerly on the subject, Helen Souness said that “the future of work will be governed by emerging technologies and data” and that such industry-relevant training would be key in pioneering the upskilling of a nation.

Digital literacy isn’t reserved for the creme de la creme of our population. With these initiatives, all anyone needs is a spoonful of enthusiasm and a dash of hard work to enjoy greater relevancy and employability.

The people of the future are the students of the now. Edtech is here to be endorsed, embraced and most of all — to empower.

Have fun kids!

—

This article was first published on March 14, 2019.

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Singapore-based early-stage investor Jungle Ventures today announced the closure of its third fund at US$240 million.

This also includes US$40 million raised in separately-managed account commitments for investments in innovative technology and digital-driven consumer businesses across Southeast Asia.

This is more than double the amount of its previous fund, Jungle Ventures II (2016).

More than 90 per cent of the new capital came from institutional investors spanning North America, Europe, the Middle East and Asia, with new investors accounting for nearly 70 per cent of the fundraise and returning investors for the rest.

Its backers include DEG, Germany’s development finance institution; IFC, a member of the World Bank Group; Bualuang Ventures, a corporate venture capital fund of Bangkok Bank; Dutch development bank FMO; Cisco Investments; and Singapore’s Temasek.

Also Read: Jungle Ventures closes US$175M of third fund, targets US$220M

Jungle Ventures III has already invested in Sociolla, KiotViet, WareSix and Engineer.ai.

Amit Anand, Co-founder and Managing Partner of Jungle Ventures, said: “The traditional view of Southeast Asia is that it’s a fragmented region of countries with more differences than similarities. Thanks to the rising internet penetration, demographic shifts and mobile-technology adoption over the last decade, the region is now home to a fairly homogenous addressable market of more than 250 million cyber-sophisticated young people comparable to any ‘developed’ market.”

“We saw the tide shifting and focused on companies that demonstrated an early leadership position in one market. Then, we supported these companies with capital, expertise and resources to help them become regional category leaders,” he added.

Jungle Ventures is one of the largest early-stage venture capital firms in Southeast Asia. Its portfolio broadly covers three verticals: consumer brands for the digitally native; digital platforms for transforming SMEs; global technology leaders born in Asia.

Jungle Ventures’s other portfolio companies include RedDoorz, Pomelo Fashion, Kredivo, and Deskera.

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Reefknot Investments, a joint venture between Temasek and Swiss transport and logistics company Kuehne + Nagel, has announced its maiden investment in PROWLER.io.

Based out of the UK, PROWLER utilises Artificial Intelligence to help turn dynamic, real-time data into optimal decisions about business problems.

This strategic investment follows the launch of Reefknot’s US$50 million global fund and the think-tank The Centre of Excellence for Global Emerging Supply Chain Technologies.

Founded in 2016, PROWLER’s AI engine VUKU can process moving data in real-time, adapt to uncertainty, act on sparse information and learn from experience. It is data-efficient, not data-hungry, so does not need Big Data sets to be effective, and is designed to have broad application across multiple sectors.

“PROWLER.io’s AI platform and capabilities will greatly enhance decision-making in complex and uncertain environments that represents the type of transformational technologies Reefknot is committed to supporting in order to drive supply chain and logistics sector innovation,” said Marc Dragon, Managing Director of Reefknot.

Vishal Chatrath, Co-founder and CEO of PROWLER.io, added: “AI has huge potential to empower supply chain and logistics companies to operate more efficiently and grow more quickly. We already have great success in improving asset utilisation for our logistics clients through data-efficient AI. Through Reefknot, we have access to their ecosystem of domain partners and have the opportunity to combine their sector expertise with our leading technology platform.”

Also Read: Startups should adopt the glocalisation mode of design and thinking: Reefknot Investments’s Marc Dragon

Based in Singapore, Reefknot recently closed a US$50 million fund, which invests in high-growth technology companies pushing new frontiers within the supply chain and logistics space. Other domains the fund is actively exploring opportunities in include digital logistics and trade finance.

Reefknow also provides founders access to the business insights of Temasek, the logistics & supply chain expertise of Kuehne + Nagel, and an ecosystem of high-value partners who will bring added support to help accelerate business growth.

PROWLER.io has recently raised an investment led by Chinese technology giant Tencent Holdings, with participation from SGInnovate and Atlantic Bridge.

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Gathering the fiercest startups from the Asia Pacific, the 2020 TOP100 is bigger and bolder than ever!

If you are a tech startup based in the Asia Pacific with a working prototype or product which you have launched to a market already, then the 2020 TOP100 APAC may just be the right programme for you.

The 2020 TOP100 APAC is a curated programme designed to discover, showcase, and accelerate the next generation of up-and-coming startups. By joining the programme, startups can enjoy unique perks such as being able to showcase their startup visions at the Echelon Asia Summit in Singapore, getting direct access to investors who are actively looking for startups, finding and connecting with one’s possible business matches, and so much more.

On top of that, by joining the 2020 TOP100 APAC, your startup stands the chance to win incredible prizes and the honour of representing your country as the TOP100 2020 champion. By being part of the programme, your startup automatically becomes a part of the TOP100’s formidable alumni network — which is already a prize in itself, given the diversity and track records of those who are also part of the network being well-within one’s reach.

“After winning TOP100, Softinn gained traction across ASEAN countries and globally,” said Jess Shen Lee, founder of Softinn. He added, “We were approached by quality investors further spurring our growth. We’re now in Indonesia and Vietnam because of TOP100.”

This is only one of the many examples of how TOP100 impacts many startups from the region for the better.

Why choose 2020 TOP100 APAC

From being able to pitch in front of APAC’s tech ecosystem on the crowd favourite TOP100 Stage during Echelon Asia Summit, to being able to access exclusive regional and international partnered programmes — joining TOP100 is truly the gift that keeps on giving.

With over 300 startups in its alumni network, over $120 million raised, 600 investors, and 20 global cities, joining 2020 TOP100 APAC means being sure that you are in good hands.

This is the best way to accelerate your company across Southeast Asia because of the funding opportunities made available to those who make the cut. Top corporates will also be on the lookout for possible business matching through the Forge programme.

Ultimately, joining the TOP100 means getting well within the radar of APAC’s top stakeholders who will be watching out for raw talent brimming from the highly anticipated TOP100 Stage at the 2020 Echelon Asia Summit.

The best part of it all? You can start preparing your pitch today because while we are still months away before 2019 ends, we are already accepting applications to the programme.

Interested applicants can sign up today for the chance to represent their country in the TOP100 stage in Singapore this coming 2020. Tech startups from all stages are welcome to join, as long as you’re based within the Asia Pacific, ready to pitch in English, and you are able to commit to the whole TOP100 programme all the way to Echelon Asia Summit in Singapore.

If you fit the bill, then sign up here and go up against the region’s best and brightest tech startups today. For more information on the matter, you may visit the 2020 TOP100 APAC today.

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