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Startup of the Month, February 2020: GTRIIP, a paperless hotel check-in platform

Every month the team at e27 runs the monthly Startup of the Month poll where we put the spotlight on the most outstanding startup of that month, giving it the extra attention that it deserves. Five startups are selected internally by taking into account idea, team, funding and founders. Three eventually make it to the final round, where we take in votes from our Telegram community.

The winner for February is none other than GTRIIP, a Silicon Valley-Singapore-based startup that eliminates the need for paperwork in hotels using biometrics driven sensors in smartphones.

From the minute a guest checks in …

When you check into a hotel, you know the constant hassle of filling out all the paperwork and providing a government-issued ID card. For too many hotels, spas, and casinos, this paperwork gets in the way of creating a smooth guest experience. But there is no way that this process can be avoided.

One must wait for the document to print, then sign it, and then wait for the staff member to scan and copy it. This tedious paperwork takes time away from leisure.

But what if there was a way to make the process quicker, easier, and leaner?

Founded in 2014, one of GTRIIP’s offerings enable guests to have a better check-in process by using their smartphone’s fingerprint and facial recognition systems.

The AI-powered system then registers and verifies the guests’ profile “instantaneously”, cutting down the time taken to less than five minutes.

Also Read: GTRIIP raises Series B funding to take its digital identity solution into new APAC markets

“During my travels, one of the pain points I encountered personally was the registration of information. For example, when I fly, there is the immigration information that I have to fill up (each time). I was once stuck in a hotel lobby for 15 minutes after a late-night flight but I couldn’t get a room as the front desk was understaffed,” said founder Maxim Thaw Tint to Business Times.

“It consists of my first name, last name, passport number and more. When I arrive at the hotel, the hotel’s front desk will give me a registration card that also requires the same kind of information. One thought that came to mind was why this process had to be so manual,” he continued.

Currently, GTRIIP has partnered with leading hotels like Park Hotel Group, Amara Singapore and Amara Sanctuary Resort Sentosa, aiming to approach one million check-ins.

GTRIIP’s partners also include Assa Abloy Global Solutions and Salto Systems Asia.

The backers

The company has raised a total of US$1.5 million in funding over three rounds, with their latest Series B funding round announced on February.

Participants in their funding round include Japanese VC firm GlobalBrain, Kepventure and Japan’s Accord Ventures and M1.

Tint also said that the company envisions a future where people can travel without any photo ID or access card. According to him face and biometrics suffice as our identity and this would be enough to make geographical mobility seamless.

The company currently has 20 employees and claims to have completed installations for 13,000 rooms and access points, enabling more than one million digital identity check-ins.

Diversification of product lines beyond hospitality for other commercial properties, such as tenant access and visitor access has also been expressed by the company.

Also Read: Startup of the Month, January: Singapore-based biotech startup TurtleTree

In addition to GTRIIP, the e27 community also voted for Credify and Forward School as the runner-up for the Startup of the Month title.

Credify provides secure and cost-effective blockchain-driven Universal Identity and Trust System solutions to companies in e-commerce and digital finance whereas Forward School integrates co-learning, and co-living spaces together for aspiring IT professionals to succeed in the fast-paced tech sector.

Image Credit: Proxyclick Visitor Management System

 

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These later stage funding rounds of February are the most exciting Valentine’s Day gift

The month of February was an exciting one in terms of later stage funding rounds in the Southeast Asian startup ecosystem.

In addition to seeing the rise of the latest Indonesian unicorn, as JD.id announced its latest funding round from gojek, we also got to see a greater variety of startups raising a later stage funding round.

Check out the list of the startups that had announced their later stage funding round last month, based on our news coverage and database:

GTRIIP
Funding: Undisclosed Series B
Investor(s): GlobalBrain, Kepventure, Accord Ventures

GTRIIP wants to use the capital for expansion in both hospitality and other commercial properties in the Asia Pacific markets with ageing populations, waning workforces, and high labour costs.

Aerodyne
Funding: Series B
Investor(s): North Summit Capital, Arc Ventures, and Leave a Nest as its key strategic partners and investors in the second round of Series B funding, supporting its plan to enter new APAC markets such as China, India, and Japan.

The company said that it will use the funding to focus on data technology advancement, hiring talent globally. It also aims to continue expansion to key global markets such as Japan, the US, Latin America, Europe, and the Middle East.

TIX ID
Funding: Undisclosed investment
Investor(s): PouchNATION

With this investment, TIX ID aims to extend its on-ground handling capabilities in anticipation of launching its events ticket sales business.

Grab
Funding: US$850M+
Investor(s): Mitsubishi UFJ Financial Group (MUFG), TIS

The investments were meant to support Grab’s effort to further expand into the financial sector.

Also Read: Afternoon News Roundup: Funding Societies teams up with SGeBIZ to lower working capital barriers for SMEs

UangTeman
Funding: US$10M in Series B extension
Inevstor(s): ACA Investments, Pegasus Tech Ventures, Spiral Ventures

The first part of the company’s Series B funding round was led by Draper Associates and Japan’s KDDI Open Innovation Fund.

JD.id
Funding: Undisclosed
Investor(s): gojek

This round takes the company’s total valuation to over US$1 billion, making it the sixth unicorn in the country after gojek, Tokopedia, Traveloka, Bukalapak, and OVO.

CoolBitX
Funding: US$16.75M in Series B
Investor(s): SBI Holdings, National Development Fund of Taiwan, BitSonic, Monex

CoolBitX plans to expand the Sygna product line’s presence beyond the APAC region as the first-to-market FATF-compliant solution for virtual asset service providers (VASPs) around the world. It also plans to continue to innovate its bluetooth-enabled hardware wallet CoolWallet S, its flagship product with a focus on security, functionality, and usability.

Dahmakan
Funding: US$18M in Series B
Inevstor(s): Rakuten Capital, White Star Capital, JAFCO Asia, the GEC-KIP Fund, Woowa Brothers, the former CEO of Nestlé Germany, Partech Partners, Y Combinator

Dahmakan will use the funding to continue building their end-to-end operating system which powers the entire value chain from product development to last-mile delivery from a network of “satellite” distribution kitchens.

Eureka AI
Funding: US$20M in Series B
Investor(s): Apis Partners, Gobi Partners, the Riyad Taqnia Fund, MEC Ventures, SG Innovate, GDP Ventures, Pacific Bridge, and Cianna Capital

The company said that the funding will be used to support its expansion plans in Europe and the US, as well as develop its product portfolio.

Image Credit: Andrew Neel on Unsplash

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These early stage startups receive much love from investors in February

February was another busy month for the Southeast Asian startup ecosystem with a total of 24 early stage funding rounds being announced.

Without further ado, the following are those we managed to cover in the month:

Mortgage Master
Funding: US$381,105 in seed funding
Investor(s): Bala Swaminathan, Andy Lim

Secured through crowdfunding platform FundedHere, the company managed to close theirs in eight days.

Hukumonline
Funding: Undisclosed Series A
Investor(s): Media Development Investment Fund (MDIF)

Hukumonline will use the funding to develop new products, improve existing products, and grow its subscriber base.

Moovby
Funding: US$500,000 in seed funding
Investor(s): Angel investors, strategic partners

The newly-raised capital will be used for expansion in existing markets in Southeast Asia, namely Malaysia and Indonesia.

Clear
Funding: US$3M in Series A
Investor(s): Eight Roads, Telefonica, Deutsche Telekom, Hong Kong Telecom (HKT), and Singtel

Clear states that it will use the money to expand its team and telecoms operations. It will also explore possible integrations in other industries, including the financial services and energy sectors.

gudangada
Funding: “double-digit millions” in seed funding
Investor(s): Alpha JWC Ventures, Wavemaker Partners, Pavilion Capital

The money will be used to fuel the company’s continued business expansion, from expediting member onboarding, expanding service and solution offerings, to enhancing leadership and operational talents to accelerate growth.

Also Read: Starting off the new year with these early stage funding rounds of January

Forward School
Funding: US$500,000 in pre-seed funding
Investor(s): Chan Kee Siak, Chu Jenn Weng, Chiew Kok Hin, Ang Siak Keng, Brian Wong

With the new investment, Forward School plans to move into their new campus this quarter, an integrated co-learning and co-living space.

Circles.Life
Funding: Undisclosed
Investor(s): Warburg Pincus

The funding round is reported to have put the company “closer to unicorn status.”

PeerPower
Funding: Undisclosed Pre-Series A
Investor(s): InVent, Business Online Public Company (BOL)

PeerPower will use the funds to invest in product development and broadening its digital financing services.

Greenly
Funding: Undisclosed seed funding
Investor(s): East Ventures, angel investors

The company plans to use the fresh funds for product innovation, technology development, and expand its network both locally and into other cities.

Printerous
Funding: Undisclosed Series A
Investor(s): BAce Capital, AddVentures, ​GDP Venture​, Gobi Agung, Sovereign’s Capital

The company said it will use the funding to deploy its technology infrastructure and expand its presence to 30 cities in Indonesia. It also plans to further grow the business in a sustainable way.

GrabWheels
Funding: US$30M in ongoing Series A
Inevstor(s): KYMCO

The funding is said to be the part of a strategic partnership to develop two-wheeler electric vehicle (EV) solutions to accelerate the adoption of EVs in Southeast Asia.

Also Read: That time of the year: A look back into the early stage funding rounds of December

CYFIRMA
Funding: Undisclosed Series A
Investor(s): Z3Partners

With the new funding, CYFIRMA plans to expand into markets across Asia, including India, and the US. The funds will also be used to support the development roadmap of CYFIRMA’s cyber-intelligence analytics platform.

BizApp
Funding: Undisclosed
Investor(s): CommerceAsia

With the investment, the startup will complement with Commerce.Asia’s ecosystem to better bridge the urban-rural entrepreneurial divide in Malaysia.

WhatsHalal
Funding: Undisclosed seed funding
Inevstor(s): FundedHere

The startup, which provides enterprises decisions and solutions to enter the halal market internationally, will use the fresh funds to continue regional expansion and further development of its technology.

Credify
Funding: US$1M
Investor(s): Deepcore, Beenext

The proceeds will be used to enhance its product, and further localising its software development operations in Southeast Asia.

TopDev
Funding: “seven digit” investment
Investor(s): SaraminHR

With this funding, TopDev aims to “continue to improve TopDev’s services quality and develop new values for our customers, while still continuing to enhance others goals besides the recruitment functions such as increasing the developers’ supply for the market through training, developing IT career programmes for young people, students, and freshers.”

ShopRunBack
Funding: US$900,000 in pre-Series A
Investor(s): OBOR Capital, Negocia Ventures

ShopRunBack is a reverse logistics company that was founded in 2014 with the aim to transform the returns experience for both customers and merchants, combining international logistics network with a new generation of plug & play software.

Also Read: Kinesys Group names Steven Vanada as managing partner, targets US$20M for early stage startups

SOCAR
Funding: US$18M in Series A
Investor(s): Eugene Private Equity, KH Energy

Based in South Korea, the startup aims to use the fresh funds to enhance its platform, grow within Malaysia, and expand into new countries by Q4 2020.

Waves
Funding: US$1.2M in seed funding
Investor(s): Insignia Ventures Partners, Hustle Fund, Skystar Capital

Waves founders Kevin Gao and Ben Minh Le have said that the startup “aims to become one of the leading platforms in Southeast Asia for podcast and audio content.”

QUEST
Funding: Undisclosed seed funding
Investor(s): REAPRA

The company’s CEO and Co-founder Kirk Pathumanun said that the funding will be used to develop real-time coding talent platform through a full-stack automated teaching curriculum tracked and identify skill sets.

Tonik Financial
Funding: US$6M
Investor(s): Insignia Ventures Partners, Credence Partners, family offices, angel investors

It will use the funding to support the launch of its digital bank in the Philippines after its subsidiary Tonik Digital Bank received approval the central bank of the Philippines to provide digital banking services.

Uncharted
Funding: US$5.8M in Series A
Investor(s): Founding investors

The funding followed the merger of its Shift Insurtech and Uncharted businesses, according to Nick Macey, Founder and CEO of Uncharted.

Visinema
Funding: US$3.25M in Series A
Investor(s): Intudo Ventures, GDP Venture, Ancora Capital

Visinema said it plans to use the funding to build capacity in animation production, enhance talent acquisition, and drive international expansion.

Image Credit: Proxyclick Visitor Management System on Unsplash

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How to tackle cultural barriers when expanding your startup internationally

culture_startup

Thanks to technologies like cloud computing, artificial intelligence, and video conferencing, the world of work is becoming a little smaller every day.

In 2020, businesses of all shapes and sizes can interact with colleagues in offices on the other side of the planet as if they’re sitting beside them. We can collaborate on documents in real-time, even as we switch between devices. We can operate machinery and tools from tens of thousands of miles away.

Technology that seemed insanely futuristic a mere decade ago is becoming commonplace. It’s not unusual to find meeting rooms equipped with AR headsets so colleagues in different locations can physically interact with projects.

It’s easier than ever for businesses to expand outside their domestic markets. Tapping into new customer bases and operating in areas with fewer competitors aren’t just tempting prospects for big companies anymore; they’re essential for any business that wants to maintain growth.

In fact, many Fortune 500 firms expect emerging markets to be their main revenue stream in the coming decade.

All of these advancements go a long way toward helping employees stay on the same page wherever they are—but as an international business will tell you, there’s more to maintaining unity across your global workforce than equipping them with the right tools.

Care for local culture

International expansion can bring its own set of challenges. No matter how small the world gets, there will still be times when cultural differences become apparent. For example, the British fondness for self-deprecating humour doesn’t always translate well to an international audience.

Also read: Ready to spread your wings? 4 ways to tell your startup should

With offices on four continents, we’ve found that our teams have to adapt to local attitudes concerning work/life balance; some hiring managers don’t take kindly to after-hours calls to their mobiles, others see it as a sign of good customer service. This is the kind of knowledge that is not always assumed but very easily researched.

International growth is about replicating your success in a new market, but you can’t just cookie-cutter your way around the world without allowing a little flex.

Be aware that what’s worked for you in certain locales may not yield the same results elsewhere, and prepare to adapt your management style accordingly.

Bridging the gaps to create a global family

It’s imperative that all your staff, no matter whether they’re in Seoul, San Francisco or Sydney, feel part of the same team, working toward the same goal. One way of tackling potential cultural barriers is to staff your new location with a mix of existing employees and local talent.

The current staff knows your business inside and out and will be able to export your company culture while setting an example for new team members. On the other hand, recruiting local talent is essential to cultivating local and cultural knowledge, getting the inside track on the market, and connecting with your new customer base.

The key to blending your international and domestic teams successfully is to embrace different styles of communication.

Create a less formal space for them to get to know each other, whether that’s a group chat, a weekly video hangout, or a round-robin type email that shouts out personal successes or occasions so that the team can celebrate together.

Also read: 3 ways to know if your startup is ready to go international

Encouraging employees to support a local charity is a great way of fostering a sense of belonging, as is supporting their personal development with language classes.

Measuring for fit in new cultural landscapes

When expanding your business internationally or piecing together an expert team for a platform such as Salesforce, do your due diligence ahead of time. Ideally, you should spend time in your target market, finding out about local working culture and practices, and learning about how to hire the best talent.

That’s not always possible, however, and you may find yourself conducting your recruitment drive from the other side of the world. If this is the case, there are a few tools at your disposal to help you gauge a better sense of the person when hiring for your new division.

For informal chats about your vacancies, a more casual platform such as Skype or WhatsApp will help candidates feel more at ease, and more able to reveal their personality during your conversation. To carry out a more thorough assessment of your candidates, video interviewing can be hugely useful.

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. We are discussing inclusivity at work and women all of March. Share your thoughts, tips and best practices on how we can make the startup ecosystem more inclusive, gender and culture diverse.

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