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Indonesia’s vocational skills learning platform Arkademi snags funding from US-based SOSV

Indonesia-based Arkademi, an online platform focussing on the learning and teaching of vocational skills, has announced that it has raised an undisclosed amount of funding from US-based VC firm SOSV.

Arkademi will use the fresh funds to enhance its product, hire new talents, and establish its footing in the Indonesian market.

The firm plans to facilitate around 200 more courses and partner with 150 institutions this year, adding to its current numbers of 50 classes by 20 institutions.

Arkademi Founder and CEO Hilman Fajrian also noted that with the funding, SOSV also pledges to support the edutech startup’s growth to serve the country’s 185 million working-age population.

Established in 2018, Arkademi provides various learning topics in an online course format that ranges from digital marketing to entrepreneurship. The platform allows users to upload and share their courses.

President Joko Widodo has set a goal to add 57 million skilled workers by 2030. In order to meet this goal and keep up with industrial growth, Indonesia’s Ministry of Manpower estimated 3.8 million skilled workers are needed to be groomed and empowered annually.

Also Read: Meet 10 new startups graduated from SOSV’s MOX programme in Taiwan

This goal alone is yet to solve the unemployment rate in Indonesia that currently is at around 5 per cent.

“One of the main sources of this problem is limited community access to vocational education, which stems from inefficient implementations and high costs. This problem is what Arkademi seeks to tackle,” said Fajrin.

In addition to the funding, Arkademi will join SOSV accelerator programme MOX, which focusses on the cross-border mobile internet sector. MOX or Mobile Only Accelerator is a programme focussed on localisation, optimisation, monetisation, and partnerships. MOX is operated by the VC firm SOSV with US$650 million assets under management.

Headquartered in Silicon Valley, SOSV operates six vertically-focussed accelerator programmes: MOX for mobile internet (Taipei), IndieBio, and RebelBio for biotech (San Francisco, London), HAX for hardware (Shenzhen, San Francisco), Chinaccelerator for internet and software (Shanghai), and Food-X for foodtech and agritech (NYC).

Arkademi was previously part of AWS Edstart incubation programme facilitated by Amazon Web Services Asia Pacific.

Photo by Daniel Chekalov on Unsplash

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Indonesian ride-hailing startup Anterin to diversify services following acquisition by MNC Group

 

Indonesian conglomerate MNC Group, through its subsidiary PT Indonesia Transport & Infrastructure Tbk (IATA) announced that it has signed a term sheet to acquire a majority stake in local motorcycle ride-sharing firm Anterin, according to a report by KrAsia. 

Though the amount of the investment was undisclosed, it is meant to drive the shift of Anterin‘s current services towards newer avenues such as food delivery, taxi collaboration with fleet operators, as well as car and helicopter rentals.

“IATA chose Anterin due to its vision. Anterin was created to change the operation concept of ride-hailing firms that exist at the moment,” said Wishnu Handoyono, IATA vice president director, in a press release statement.

According to Jakarta Globe, IATA expects to complete the acquisition by “the end of next month.”

Also Read: Thai startup ecosystem is 3 years behind Indonesia: Krafting Ponpool

This is in line with the company’s strategy to enter the transportation business, particularly ride-hailing services, where Grab and gojek remain the leaders in Southeast Asia.

Currently, Anterin has more than 300,000 drivers and 500,000 customers and operates in 100 cities in Indonesia. The company differentiates itself from Grab and gojek by offering a monthly subscription to drivers, instead of slashing fees from each ride they make, without having to give the company commission fees.

“We avoid the cash burn system. We use the auction concept. The drivers can decide their own prices. Customers also can have their own preferences, according to the price, vehicles, or drivers,” Anterin CTO Rachmat Efendi told KrAsia

For MNC Group, the acquisition marks its latest move in the regional startup ecosystem, and its first investment in the ride-hailing sector. The conglomerate has previously invested in several startups, including Singapore-based dating platform Paktor.

Image Credit:  Adrian Pranata

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honestbee to get US$7M to repay its creditors: Report

Struggling grocery delivery company honestbee has proposed to pay back its about 800 creditors in part cash and part equity, says a Business Times report, citing sources.

For this, US-based FLK Holdings, which is owned by honestbee’s former Chairman Brian Koo (its early investor) and his venture firm Formation Group, plans to inject fresh funds of US$7 million into the Singapore firm for settlement,

As per this report, Koo and Formation Group plan to use a cash payment to settle 3 per cent of what honestbee owes to 800 creditors. The remaining 97 per cent will be repaid via the issuance of shares in a new Singapore-incorporated entity that will own honestbee’s assets. This entity will take over the grocery delivery startup’s assets.

Also Read: Indonesia’s digital economy development occurs only in urban areas as disparity continues

Creditors will receive shares in this new firm.

Separately, honestbee owes S$500 or less each to more than 1,000 trade creditors (which amounted to over S$150,000). They will be repaid in full and so won’t be included in the scheme.

If the plans get through, creditors will own between 70 per cent and 75 per cent of the new Singapore firm.

honestbee, a heavily-funded company, was struggling to survive after several of its operations in Southeast Asia were shut down. This led the resignation of its co-founder and CEO Joel Sng in May last year.

In October, honestbee announced management changes with Varian Lim being appointed as Chief Operating Officer.

As per some other report in September, honestbee owes 217 employees a total of almost US$1 million in unpaid salary.

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Today’s top tech news: OYO cuts jobs in the US, Facebook fights coronavirus misinformation

Oyo_news

SoftBank-backed Indian hospitality chain OYO cuts jobs in US – DealStreet Asia

Within weeks of slashing workforce in India and China, Indian hospitality chain Oyo Hotels and Homes (OYO) is retrenching hundreds of employees in the US in a bid to keep its bottom line intact, said a DealStreet Asia report.

Headquartered in Gurugram, the SoftBank-backed unicorn has laid off around 360 people in the US, about one-third of its total headcount in the country, Skift reported. Jobs have reportedly been slashed across numerous categories, including business development managers, talent acquisition leads, and area general managers.

OYO forayed into the US in February 2019 and currently claims to have grown to 19,000 rooms in over 250 hotels across 30 states. While OYO refrained from getting into specifics, a senior company executive requesting anonymity, said, “These are hard decisions, but critical for the company to make if it wants to build a strong and sustainable business.”

Unlike other companies that have been written off, OYO has a strong balance sheet but is still taking these measures, which is testament to the fact that the company is running a marathon, and not here for a sprint.

Facebook to remove coronavirus misinformation after WHO declares global emergency – Reuters

Facebook Inc said on Thursday it will take down misinformation about China’s fast-spreading coronavirus in a rare departure from its approach to health content, after the World Health Organisation (WHO) declared the outbreak a global health emergency, confirmed a Reuters report.

The world’s biggest social network said in a blog post that it would remove content about the virus “with false claims or conspiracy theories that have been flagged by leading global health organisations and local health authorities,” saying such content would violate its ban on misinformation leading to “physical harm.”

The move is unusually aggressive for Facebook, which generally limits the distribution of content containing health misinformation through restrictions on search results and advertising, but allows the original posts to stay up.

That approach has angered critics who say the company has failed to curb the spread of inaccuracies that pose major global health threats.

In particular, misinformation about vaccination has spread far on social media in many countries in recent years, including during major vaccination campaigns to prevent polio in Pakistan and to immunise against yellow fever in South America.

Also Read: Today’s top tech news: OYO Founder Ritesh Agarwal has confirmed staff layoffs in India

honestbee to get US$7M to repay its creditors: Report – Business Times

Struggling grocery delivery company honestbee has proposed to pay back its about 800 creditors in part cash and part equity, said a Business Times report, citing sources.

For this, US-based FLK Holdings, which is owned by honestbee’s former Chairman Brian Koo and his venture firm Formation Group, plans to inject fresh funds of US$7 million into the Singapore firm for settlement.

As per this report, Koo and Formation Group plan to use a cash payment to settle three per cent of what honestbee owes to 800 creditors. The remaining 97 per cent will be repaid via the issuance of shares in a new Singapore-incorporated entity that will own honestbee’s assets. This entity will take over the grocery delivery startup’s assets.

Creditors will receive shares in this new firm.

Separately, honestbee owes S$500 (US$366) or less each to more than 1,000 trade creditors, which amounted to over S$150,000 (US$1,096). They will be repaid in full and will not be included in the scheme.

If the plans get through, creditors will own between 70 per cent and 75 per cent of the firm.

honestbee, a heavily-funded company, was struggling to survive after several of its operations in Southeast Asia were shut down. This led the resignation of its co-founder and CEO Joel Sng in May last year.

Indonesian ride-hailing startup Anterin to diversify services following acquisition by MNC Group – KrAsia

Indonesian conglomerate MNC Group, through its subsidiary PT Indonesia Transport & Infrastructure Tbk (IATA), announced that it has signed a term sheet to acquire a majority stake in local motorcycle ride-sharing firm Anterin, according to a report by KrAsia.

Though the amount of the investment was undisclosed, it is meant to drive the shift of Anterin‘s current services towards newer avenues such as food delivery, taxi collaboration with fleet operators, as well as car and helicopter rentals.

“IATA chose Anterin due to its vision. Anterin was created to change the operation concept of ride-hailing firms that exist at the moment,” said Wishnu Handoyono, IATA vice president director, in a press statement.

According to Jakarta Globe, IATA expects to complete the acquisition by “the end of next month.”

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e27 community: 10 most-read contributor posts in January

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e27 has groomed a thriving community of two million like-minded readers in the tech and startup industry. And you can engage with this community via the Contributor Programme.

It is a great place to establish thought leadership and reflect the interests of the start-up economy in Asia.  In 2020, we decided to dedicate each month to an umbrella theme to get your thinking caps on and stimulate discussion.

January was all about reflecting over the year gone by and looking for trends of the future. Here’s a curated list of the most read contributor posts in January.

How to choose a coworking space for your startup

Coworking spaces are the face of the working zones in the modern world. These places are an attempt to change the trends of how employees react to work and office spaces. Traditional office spaces are slowly getting wiped off. Find out why!

Using social media to grow your startup: What companies can do to avoid disappointment

Social networks are one of the most effective tools to promote and attract clients. It is not only big brands that achieve success in social media space.

Even small companies and startups unlock their potential, forming a target audience in their niche. But managing social media is not so easy. Make your way through this maze.

9 digital marketing trends you can no longer ignore in 2020

Digital marketing trends are very much similar to the world of fashion where newer trends rule the runway every new season. But every once in a while there comes a trend that just stays around longer than expected.

Same is the digital world.

It’s already 2020 and if you are not tightening your belts to take this year seriously, then you will definitely fall back in the race of competition. While a lot of new things are expected to welcome us in the new year, there are a few marketing trends of 2019 that are expected to rule the landscape in the following year as well.

Why working at a startup is a better way to launch your career

Millennials of today wish to find their dream jobs once they graduate from college. And they are extremely sensitive about the roles and responsibilities that are put on their shoulders once they are hired.

Lending a job in market-leading companies is an achievement in itself.

Still, startups hold their fort that lets their interns learn many things and gives benefits that no leading business can. But is this a good decision? Let’s find out.

CNY Special: How the e-ang bao and digital gold are fuelling the rise of virtual gifting in Asia

In a tradition dating back centuries, Chinese elders make gifts of money to children and unmarried relatives during the Lunar New Year, wishing wealth and prosperity for them in the coming year.

Now, traditions rooted in the past are adapting to the times, and the practice of giving and receiving red packets is changing to fit the highly digitised lifestyles of modern society.

Electronic red packets have been rising steadily in popularity over the last few years in China, Hong Kong, Taiwan, and Macau after being introduced by the Chinese internet company, Tencent, a few years back in 2014.

I have a startup idea. But how do I know if it is worth it?

Ideas take birth every moment, but not each one succeeds.

There are many reasons why this could happen. Sometimes it is due to lack of resources; sometimes it is due to inadequate research. Planning and implementation are also factors that play an important role. Five things to ask yourself before getting your tech startup idea out in the market.

Lessons from a tattoo artist: What startups can do to be more creative

As creatives, we tend to be overly idealistic about what we want to create. Be ambitious but realistic— especially in the beginning. Start small by finding the simplest thing you can do now to get the idea out there for validation.

A tattoo artist and entrepreneur draws invaluable lessons from his journey.

Diversity in the workforce: Where do we go from here?

TeamSpirit Singapore has a pretty diverse workforce with seven nationalities in their Singapore office of 19 people. Diversity does not just reflect in thought and competence but also brings out kindness, humanity, and culture within a team.

This post talks about the three ways diversity in the workforce can improve your startup culture.

7 ways to build a better brand that defines you in 2020

The word brand or logo is often cast-off in the technological world and though it is one of the most important factors to work on digitally. Branding has been stated to companies for a long time, but nowadays almost every next person has its own brand.

In this digital world, your own branding ties you with the world and your online presence is the essence if you want to grow your brand. Besides, every company is based on branding like a brand is an identity for their business.

11 tips for managing the digital workforce of your startup

This world is getting digital-faster than we could imagine. Technology is taking new shapes every day, moulding according to people’s needs, bringing us new ideas in the form of innovation.

One such advancement seen in recent years is the digital workforce, estimated to become pretty popular among marketers in the coming time. Now, before we get started with any further discussion, let’s know some basics about a digital workforce.

Editor’s note: e27 aims to foster thought leadership by publishing contributions from the community. Become a thought leader in the community and share your opinions or ideas and earn a byline by submitting a post.

Join our e27 Telegram group, or like the e27 Facebook page.

Image credit: Helena Lopes on Unsplash

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