Singapore’s Circles.Life lets go employees despite recent Warburg Pincus-backed funding

Mobile virtual network operator Circles.Life reportedly has let go of several employees and eliminated roles associated with non-priority projects less than a month after snagging investment from global private equity major Warburg Pincus, as reported by DealStreetAsia.

The company said the layoffs were a part of the company’s year-end review. “While we continue to hire top global talent for our priority business areas, we have also made difficult decisions recently, including eliminating roles whose projects are no longer a priority,” Circles.Life’s statement reads.

Circles.Life, which leases wireless capacity from a mobile network operator at a discount and resells it to consumers, has around 500 employees across its operations in Singapore, Taiwan, and Australia.

honestbee clears out furniture from habitat; police called in

Tensions between honestbee and landlord LHN Space Resources have escalated with police called in on Feb 28 after the embattled startup moved its furniture and fixtures out of its concept supermarket habitat, as per a Business Times report.

When BT visited habitat at 34 Boon Leat Terrace on the afternoon of Feb 28, police officers were seen interviewing staff of LHN. honestbee contacted the police after LHN staff appeared at the premises to question why the startup was moving its furniture out.

When BT visited habitat again on Saturday evening, more furniture, including about 150 chairs and dining tables, were lined up at the entrance of habitat, with a few honestbee vans parked at the loading area.

Also Read: Honestbee to discontinue Singapore food delivery service

A lorry stacked with the tables and chairs from habitat was seen driving away. Though it’s unclear where the furniture was being taken to, BT understands that honestbee has rented a new space in Genting Lane from March 1.

Filipino VC firm Kickstart Ventures to discover the country’s unicorns with US$198M funding disposal

Kickstart Ventures, the venture capital firm based in Makati City, Philippines, has revealed plans to utilise its US$198 million funding disposal in an effort to “nurture promising technology “unicorns” and help innovative companies grow into regional players across Southeast Asia”, as reported by Manila Standard.

“There is a 650-million person opportunity out there in Southeast Asia. We would like to see more Philippine companies thinking about the unmet needs across Southeast Asia, rather than just the Philippines. We would love to see more ambition from them,” said Joan Yao, VP (Investments).

Kickstart Ventures is a wholly-owned subsidiary of Globe Telecom and backed by SingTel and Ayala Corp. It invests in early- to early-growth stage tech startups globally by putting in capital, market access, and expertise in exchange for equity in startups anywhere in the world.

Also Read: Kickstart Ventures to manage Ayala’s US$150M Corporate VC fund in Philippines

It was established with a US$2.4-million seed fund in 2012. Just last year, Ayala announced that it would allocate US$150 million in venture capital initiatives managed by Kickstart Ventures.

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Malaysian e-commerce aggregator iPrice raises US$10 million in Series B financing

iPrice Group, an e-commerce aggregator platform in Malaysia, has raised US$10 million in a Series B funding round, led by ACA Investments, according to DealStreet Asia.

Other participants include Daiwa PI Partners, LINE Ventures and Mirae Asset-Naver Asia Growth Fund.

The company targets expansion beyond its primary price comparison unit, which accounts for 50 per cent of its revenues, operating at a 30 per cent EBITDA margin according to a statement.

Also Read: iprice raises US$4M Series A led by Asia Venture Group, Venturra Capital

“To pursue our next journey, we need to be where the consumers are. We need to engage users directly on our platform, continue our strong presence on Google as it remains a vital starting point for many shoppers, and enable partners across the region, such as media platforms, social media apps, and all the emerging super apps, to provide e-commerce content for their audience,” said Chmelar co founder of iPrice.

AI-driven fashion startup FlixStock raises US$2.5M to launch research centre in Singapore

Indian fashion startup Flixstock, which uses AI to remove the need for hiring models for a photoshoot, announced today that it has raised US$2.5 million from US/Singapore-based early-stage VC firm Wavemaker Partners, according to Tech In Asia. Other participants in this round were Seeds Capital and Leo Capital.

The additional funds will be used to launch a research centre in Singapore and expand in the US markets.

“Images are key to successful e-commerce, but the production of fashion images has never seen any innovation,” said Harindar Keer, Founder and CEO of FlixStock. “We offer a suite of solutions to help retailers create images in large scale at a fraction of the existing costs.”

Also Read: Morning News Roundup: Singapore’s Circles.Life lets go of employees despite recent fundraise

The company currently has seven international offices and more than 60 retailers, globally.

Malaysian startup investment firm NEXEA kickstarts programme for local startups

Malaysia-based startup investment firm NEXEA Angels announced today that it will bring back its programme for local startups and corporations to explore potential partnerships, pilot programmes and acquisitions, according to a press statement. 

Through this, startups will explore pilot projects with different organisations, validate business and explore real-world product testing. 

Additionally, startups will also gain mentor support and funding from NEXEA and its co-investment partners. Partners include property developer UEM Sunrise Berhad, Spritzer, Delloyd Group, shopper360 and Allianz General Insurance Company Berhad.

“The idea is about bridging the gap between startups and industry players – many startups desire a working relationship with corporate entities and our role is to help startups attain it,” explained Ben Lim, Managing Partner of NEXEA.

Singaporean knowledge-sharing startup Arches raises US$450K to expand its database

Singapore-headquartered knowledge-sharing services firm, Arches, has raised US$450,000 from Vietnamese accounting firm I Global and other individual investors, according to Deal Street Asia.

With this funding, the startup aims to expand its current database and continue to grow operations in Singapore, Tokyo, Ho Chi Minh City, Shanghai and Tashkent.

“In Asia, especially in the fastest-growing economies, industry information belongs to a small group of insiders, and public data and reports available to the market are extremely limited,” said Hiroki Kato, representative director of Arches.

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Image Credit: Flaunter.com

 

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Ever since I’ve been very young (which admittedly has been a long time ago), I’ve always striven for that perpetual pot-of -gold-at-the-end-of-the rainbow. Meaning, I always wanted to do the best that I could do to whatever it was I put my mind to.

Most times, this tendency to overachieve has worked in my favour. Come exams time and I’d be the first one to set up my daily schedules and study regime. During my professional life, it has manifested in the various successful career transitions I’ve made. 

Different strokes

I started off my career as a print journalist with Khaleej Times in Dubai, a 21-year-old who was given the heavy responsibility to report on the economic affairs of the United Arab Emirates as well as reporting on its foreign policy. After a few years, I realised that as much as I truly loved writing, TV was the next best thing.

I then moved to India to start my career as a broadcast journalist with one of India’s most well-known news channels but admittedly at the bottom of the television ladder. 

A lot of my friends and family at the time were concerned by my lack of supposed skills and even tried dissuading me from it. Once I moved there, the power of the medium was addictive and I soon started getting more comfortable in front of the camera and admittedly more confident in the skills I was gaining.

I then became one of the youngest foreign correspondents with an international news channel and at 25, was covering floods, civil strife and witnessing politics at a grand stage with a vantage viewpoint, all while still being very new to broadcasting.

Along the way, I was helped by several mentors and friends, who through their deep wisdom and words of support, through evenings of coffees and solidarity,  made me more confident in my choices. 

Inner critic

But surprisingly, throughout this time, the inner critic inside me started getting louder. Every time I would finish one broadcast report, which would be watched by millions, and even after receiving positive feedback from my colleagues and viewers, the inner critic would keep saying and repeating “ you’re an imposter” “they’ll find you out sooner than later” or “you’re not good enough”.

Also read: Women in tech: Carman Chan’s Click Ventures is one of the most consistent VC funds globally

Being a woman made it harder and simpler at the same time. Harder because you had to constantly prove to everyone that you’re good enough, strong enough and smart enough.

Simpler because it gave me the drive to achieve anything I could set my mind to, even during the deepest darkest moments of despair, which were aplenty. 

Starting over

I then made yet another transition when I moved to Singapore in 2013- from journalism to strategic communications. This was after being in journalism for more than a decade and once again, that inner critic’s voice started getting louder. 

From clients who were very happy with the communications counsel I was giving to colleagues whose voices of recognition kept getting louder, I could still not silence that ever perpetual inner critic.

She would pop out at the most inappropriate of moments- right before a big meeting, just as I’m speaking with journalists about a new product launch or even whilst having a video conference with some of my dearest colleagues.

She was the strongest when I was in some very recent unsupportive work environments, which made me realise that toxicity breeds negativity, the antithesis of creativity, and one which I wanted to consistently avoid. 

TED talk

Last year, I also gave my first TEDX talk and my inner critic had a great time then. She kept telling me how my talk was useless, how no one would care about what I’m talking about and how I’m going to make a massive fool of myself on stage. I almost believed her and thought of making a lame excuse to get out of it.

But in the end, I thought about all the people whose stories I’ve witnessed and how great an injustice I would be doing to them if I didn’t make their voices heard.

And, I’m so glad I did that as I not just enjoyed delivering the talk but more importantly, it became a landmark for me to follow when my self-doubt becomes at its loudest. 

Just a mirage

It was just a month ago that I then made a decision. I decided to let her go. 

All her shades of critique directed at my work, my body, my writing, how I’m not a good enough colleague, mother or daughter — I decided to hit back. I’m now not going to race after perfection because I’ve realised that’s just a mirage.

A mirage that makes us go through intense amounts of disappointment without letting us savour the moments of happiness that we can generate for ourselves and by that extension, for others. 

Also read: These four women are changing the venture capital landscape across Southeast Asia

From someone who was ashamed to share her work on social media, express herself more openly, I’ve become more comfortable with my own authentic voice. I’m no longer ashamed because I no longer want to be perfect. I just want to be the best version of myself. 

And how do I pull it off?

Here’s my list of how I’m silencing my inner critic and I hope that by sharing this, you can do it for yours too:

Picture yourself 15 years from now: Once you picture yourself, ask yourself at that time, “how did this moment or situation impact me?” If it’s trivial enough not to be remembered 15 years from now, then it’s probably not worth stressing about right now.

Challenge your inner critic: When you hear that voice of self-doubt creeping up, challenge him/her and tell him/her with “I’ve got this, thank you”. And stay away from those who bring her/ him out. 

Do the best you can without beating yourself over it: We all want to be the best professionals, best parents, partners and caregivers to whom we love. But we’re also human. Cut yourself some slack and give yourself some self-love.

Self-love: This is the best investment you can do in yourself. Go talk a walk, get that massage, watch that movie, eat that pizza or just go dancing on your own. Whatever makes you happy, go for that. It doesn’t make you selfish, it makes you selfless as you then have the capacity to give more. 

Surround yourself with positivity: This is the hardest, especially if you’re working. Whilst you can’t get rid of toxic workplaces, what you can choose is to not let them affect you and instead, surround yourself with people who make you feel good about yourself. And those who aren’t, you know what to do with them. 

On that note, I’m wishing each of you a great, healthy and happy start to the new year! Let’s go find our happiness and silence that inner critic.

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Sign up for the e27 Webinar with Contributor Prerna Suri: How to believe in yourself when no one else does

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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.

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

Image credit: Sandie Clarke on Unsplash

The post What every (wo)man needs to know now: Stop striving for perfection appeared first on e27.

Singapore-headquartered ShopBack shares how it grew its value proposition in the Southeast Asian e-commerce space and attained year-on-year growth

The exponential growth of e-commerce has been one of the largest contributors to the rise of Southeast Asia’s digital economy. In 2019, Southeast Asia’s internet economy hit US$100 billion (or S$135.84 billion) for the first time — with e-commerce and ride-hailing platforms continuing to beat even the most optimistic of predictions.

Against this backdrop, ShopBack was launched to assist consumers in finding better deals, while helping merchants be more effective in marketing their products and services in the ultra-competitive online space.

Buy that fancy dress at half-price, and get some cash back? Yes, please!

“ShopBack is a platform that enables consumers to uncover value when they make purchases through our platforms on the website, mobile app, or [browser] extension. We also serve merchants by sending them traffic and orders to their respective platforms,” explains its Chief Commercial Officer Candice Ong.

“E-commerce platforms pay ShopBack a commission when we redirect customers to their platforms and if they make a purchase there. We then give a sizeable portion of this commission back to the consumers in the form of cashback, which is a reward for using ShopBack,” Ong added.

The company counts digital players like Lazada, Shopee, Agoda, Booking.com, Amazon, and eBay amongst its merchants and boasts a usage rate of at least one order every three seconds, with annual transaction volumes growing 250% year-on-year, reaching US$840 million just five years since its establishment.

How does ShopBack keep an even keel through its growth?

Previously working with Credit Suisse and leading e-commerce website Zalora, Ong, who currently manages ShopBack’s regional marketing and country teams, is no stranger to scaling digital platforms based on data-driven decisions. She shares with e27 some tips guiding ShopBack’s growth in the region.

Being savvy about how your customers’ shop

Southeast Asians’ constant search for value and the “better deal” in every facet has seen both consumers and merchants turn to ShopBack, Ong said.

“We have seen strong traction from merchants as we are seen as an effective media channel, given that we only charge for successful transactions,” she pointed out.

To successfully reach out to merchants and consumers, ShopBack has placed a strong emphasis on building local market knowledge, typically hiring local talent in each country who are comfortable interfacing with colleagues from across the region. 

Ong added: “It’s also very helpful to go down to the ground often to better understand the market conditions, as changes can happen quickly in this space.”

ShopBack’s emphasis on building local market knowledge by hiring local talent in each of its markets and “going down to the ground often to better understand the market conditions” have placed them in good stead.

Consumers’ browsing and purchasing behaviours also vary across the different markets ShopBack operates in, and consequently, these insights drive how the company’s marketing campaigns are designed and run.

“For instance, consumers in developing markets are much more active during weekdays and on mobile, whereas consumers in more developed markets like Singapore, Taiwan, and Australia spread their shopping behaviour more evenly throughout the week, and may use both the mobile and desktop platforms. This influences how we decide between weekday and weekend campaigns for different markets,” Ong illustrated.

Insights on Southeast Asians’ browsing and purchasing behaviours – which vary across markets within the region – drive how ShopBack’s marketing campaigns are designed and run.

Appeal to the mobile-first Southeast Asia customer

With the dominance of mobile in many developing markets, ShopBack has given attention to building a quality mobile experience. For instance, ShopBack offers App-to-App integration, so that customers can be redirected from the ShopBack App to merchants’ Apps seamlessly and reliably.

“We’ve seen tremendous uplift for merchants who have done App-to-App integrations with us, and will continue to do more to improve the mobile experience for our users,” Ong shared.

She added, “Likewise, since desktop is popular in markets such as Australia, Singapore, and Taiwan, we wanted to enhance the desktop experience by building the ‘ShopBack Cashback Button’. This is a browser extension that automatically notifies users if an online store is eligible for cashback, saving them both time and money.”

Different strokes for different [markets]: From seamless App-to-App integration for mobile-dominant developing countries to a browser extension for desktop users in countries like Australia, Singapore, and Taiwan.

In this spirit of customer-centricity, ShopBack has also created new features to enhance users’ buying experiences in the offline world. Its latest product, ShopBack GO, is a step into the food and dining space. Launched in partnership with Visa and Mastercard, the feature helps users discover and decide where to eat while saving them time and money — essentially, they get to dine out and be paid.

“By providing offline merchants such as F&B operators with a digital marketing platform, ShopBack empowers them to make better business decisions,” Ong remarked. “This is just a taste of things to come, as we believe there are other opportunities to develop new business models in this fast-growing space.”

Be prepared to fail, learn, and try — a lot

The fast-changing nature of e-commerce is heightened by the different consumer and merchant profiles in each of the Asia Pacific countries ShopBack serves, be it in Singapore, Malaysia, the Philippines, Indonesia, Taiwan, Thailand, Australia, and very soon, Vietnam.

“I think being prepared to learn by iterating is critical in such a dynamic and diverse landscape. What might sound good in theory may not work the way you hoped it would when you put it to the test in the market. It underscores the need to understand the local context and competitive landscape and have the humility to accept that you might be wrong so that a better solution can be found,” Ong said.

“What might sound good in theory may not work the way you hoped it would when you put it to test in the market”, Ong highlights, unscoring the need to understand the local context and having the humility to accept that you may be wrong.

She also credits the tenacity of ShopBackers who drive operations on the ground.

“A lot of ShopBackers have given up the creature comforts of past jobs, be it flying premium airlines or staying in luxury accommodation to do what they do now, and it reflects the grit and sacrifice that is needed to operate in these markets.

“I think that hiring well and having a strong culture, does enable individuals who are best fit to join and stay with the company. We also pay attention to employee engagement by monitoring and acting on feedback in our quarterly surveys,” Ong noted.

Never compromise on culture fit

The emphasis on culture is even more pronounced for senior hires, where ShopBack’s hiring committees test for culture fit during interview rounds that sometimes span many hours.

Internally, ShopBack’s training and development budget allows employees to acquire new skills and knowledge, be it through attending training programmes or completing online courses. The company also routinely invites external speakers and conducts formal training sessions to onboard employees on using internal tools so that they too, are fluent in making data-driven decisions.

Given how fast things in the tech world move, Ong is on the lookout for talent with the hunger to keep learning, as well as the humility to take feedback.

“Our wish list also includes the ability to problem solve by first principles: to be able to navigate the “why” and create a pathway through ambiguous situations. Also, being able to galvanise action without having direct managerial oversight is a key requirement to getting things done in a startup, especially when reporting structures are fairly flat,” she said.

Hunger to keep learning, humility to take feedback, ability to problem solve and navigate through ambiguity – qualities essential in the fast-moving tech world, and attributes that ShopBack looks for in their hires.

“Little” no more

The journey for ShopBack is just starting. With supporters such as Ebates, the US behemoth in the cashback space now partnering ShopBack, this once small company from Block 71, an enclave in the western region of Singapore for up-and-rising startups, has ambitions to serve even more customers wherever they are in this part of the world, and maybe one day, beyond.

Its recent partnership with Ebates brings operating experience in the cashback space, effectively reinforcing Shopback with the might and track record of a global cashback brand. This signals a bright future for the company as they usher in a new era that seeks to revolutionise the e-commerce space.

Ong: “This is just a taste of things to come, as we believe there are other opportunities to develop new business models in this fast-growing space.”

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This article first appeared here.

The post How ShopBack sweetens shopping in Southeast Asia appeared first on e27.

Humans are naturally wired to be oriented towards the other and sociality is a dominant factor that has shaped our physiological and emotional needs. This makes the idea of co-working space a popular option amongst independent workers and startups.

It is based on the concept of connecting and communicating with like-minded individuals, thus giving rise to another trend called “co-living” — a housing solution where people with common interests share a living space together.

This is great for working professionals, freelancers and travellers moving to a new city. Here, e27 lists down nine leading co-living spaces perfect for working professionals, travellers and freelancers across Southeast Asia.

1. Dojo Bali

Located in the south coast of the Indonesian island of Bali in Canguu, Dojo offers a two-storey co-living space a few minutes away from the famous “Echo Beach”. This space mostly attracts a vibrant community of freelancers, startups and founders from across the globe.

All rooms have an en-suite bathroom and access to a shared kitchen, chill-out areas, pool, garden and an area for sunbathing. Situated near local warungs (cafes), grocery stores, gym, yoga studio, health food shops and bars, the coliving space also has a coworking space just minutes away.

However, it is tough to find rooms here, and pre-booking is recommended. For individuals who are on a tight budget, this might not be the best option. 

What’s unique about it: Dojo soft landing package including airport pickup, SIM cards, surfing lesson, and yoga lesson, among other perks, so you don’t have to worry for anything.

Location: Bali, Indonesia

Contract terms: No contract but a minimum of 7 days stay

Cost: US$1140/month for the package.

 

2. Draper Startup House

Draper Startup House (formerly ‘Tribe Theory’) aims to create an “entrepreneurial-centric accommodation” by utilising hostel beds to put like-minded people under one roof.

It is clean and well-maintained with spacious dorms and washrooms. This makes it an excellent steal for entrepreneurs who are on the go looking for opportunities and meeting other like-minded individuals.

Also Read: Tribe Theory rebrands to Draper Startup House after a US$3.5M investment from Tim Draper

Every location is strategically built so that residents don’t have to worry about availability of food, groceries, etc. Even though it can be difficult to find accommodation for long-term, pre-booking is highly recommended.

What’s unique about it: Budget-friendly and offers tools for aspiring entrepreneurs like Draper Startup House Ventures, where entrepreneurs can submit pitch decks to the Draper Venture Network, events among others.

Contract terms: No contract but limited availability for long-term residents

Location: Singapore, Bangalore, Bali, Austin, Lisbon, Manila, Yangon, Tallinn

Cost: Pricing depends on the country

 

3. Hmlet 

Hmlet is a fully-furnished serviced co-living apartment in Singapore that has widely spread across different regions in Tokyo, Hong Kong and Sydney.

It guarantees a membership plan with a fully-furnished home, utilities, unlimited WiFi, weekly cleaning, maintenance, access to community events for people looking for flexible and easy options.

The apartments are located in prime business areas in Singapore. The different room sizes offer flexibility in price without compromising on location.

What’s unique about it: Flexibility in pricing options. Members can choose from ‘master’, ‘regular’, or ‘pocket rooms’.

Contract terms: 3 months minimum lease period

Location: Singapore, Tokyo, Hong Kong, Sydney

Cost: US$900/month onwards.

 

4. Spiced

Located in the capital city of Vietnam, Spiced advertises itself as “having the comfort of Airbnb with a co-working space”. All bedrooms come with a comfortable bed and a private bathroom. Guests also have 24×7 access to the co-working space. All utilities, room cleaning and laundry, are included with most co-living options.

If you’re at Spiced, food is also not something to worry about as a community-spiced lunch is organised every day where members can connect with one other.

What’s unique about it: Delicious Spiced Community Lunch

Contract terms: No contract but limited availability for long-term residents

Location: Ho Chi Minh, Vietnam

Cost: US$608/month.

 

5. Cove Living

Apart from having a ready-to-move-in housing option, Cove Living in Singapore uses AI to find the right flatmate based on one’s living habits, values, and interests. The company meets all the residents who apply through the viewing process and chats with everyone and understands individual requirements. The data is then added to the website.

Also Read: Flexible housing platform Anyplace enters Southeast Asia, teams up with coliving operators

It comes with three membership plans — normal plan, flat-sharing, and studio apartment, all which have different perks attached to it.

What’s unique about it: Finding a flatmate through AI

Contract terms: Flexible with a three-month minimum stay 

Location: Singapore

Cost: US$1220/month onwards.

 

6. Lyf

A vibrant co-living space, lyf caters to both the work and play elements of residents. It caters to both short- and long-stay residents (millennials, technopreneurs, self-starters, digital nomads, and aspiring entrepreneurs).

The space boasts “Instagrammable… social zones” that consist of co-working spaces and an area for hackathons, innovation talks, music jamming sessions, cooking sessions, and workshops which are organised weekly by lyf’s Ambassador of Buzz (AOB).

The length of stay can be tailored, from short term to long term. Typically, condominium rental units have a minimum stay of three months.

What’s unique about it: The laid-back chill vibe, Instagram worthy

Contract terms: No contract for short term rentals and 3 months minimum for condominium rentals

Location: Singapore, Cebu, Shanghai, Fukuoka, Kuala Lumpur, Bangkok

Cost: Pricing depends on the country

7. Hub Hoi An

This is for those who want to stay away from the hustle and bustle of city life. Hub Hoi An is a co-living and co-working space in Vietnam offering a professional work environment for remote workers, digital nomads, local entrepreneurs and freelancers.

Events, workshops, open talks, networking dinners, excursions, daily community lunches and social meetups are hosted regularly in this space.

Also Read: The future way of life is co-living, and these 7 Thai spaces help pave the way

They have options of living in a ricefield homestay or a villa with a complete package that includes perks like one free bicycle, unlimited Vietnamese coffee, SIM card and free lunches.

What’s unique about it: Package perks, location

Contract terms: No contract for short term rentals and 3 months minimum for condominium rentals

Location: Hoi An, Vietnam

Cost: US$966/month depending on the living option.

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Image Credit –  Helena Lopes

 

The post From co-working to co-living, these 7 brands in Southeast Asia have got you covered appeared first on e27.

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.

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Image Credit: Proxyclick Visitor Management System

 

The post Startup of the Month, February 2020: GTRIIP, a paperless hotel check-in platform appeared first on e27.

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.

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Image Credit: Andrew Neel on Unsplash

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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.

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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.

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Blockchain security startup CoolBitX takes home US$16.75M in Series B led by SBI Crypto Investment

CoolBitX, a blockchain security company that builds the infrastructure to close the gap between the mainstream market and crypto industry, has announced that it has closed US$16.75 million in Series B funding round led by Japan’s financial group SBI Holdings. National Development Fund of Taiwan, Korean crypto exchange BitSonic, and Japanese financial group Monex, also joined.

With this funding, 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.

In June 2019, the Financial Action Task Force (FATF) released its latest standards for combating money laundering and terrorist financing, requiring VASPs of FATF member countries to comply with Recommendation 16 aka the “Travel Rule.” With this rule, crypto exchanges must collect and transfer customers’ personally identifiable information (PII) during transactions. CoolBitX launched Sygna Bridge in October 2019, providing VASPs with the first market-ready solution so that they may be fully FATF compliant.

More than 10 exchanges have signed Memorandums of Understandings (MOUs) with CoolBitX, joining a consortium of VASPs to begin or consider implementing Sygna Bridge.

Founded and based in Taiwan in 2014, CoolBitX is helmed by Founder and CEO Michael Ou, who’s also a fintech entrepreneur. Ou is also Chairman of SmartDisplayer Technology, a 20-year old family business and the publicly traded company that pioneered banking security solutions.

Revolut raises US$500M in Series D funding, a business valued at US$5.5B

Global financial platform Revolut today raised an additional US$500 million in Series D funding, taking the total amount raised so far to US$836 million.

Also Read: Revolut plans on taking over the growing cashless society in Asia post Singapore launch

The new funding round was led by US-based growth capital firm TCV, with a number of existing investors also participating.

The latest funding round put the business valuation at US$5.5 billion.

The new capital will be focussed on the customer experience and used to strengthen Revolut’s core retail and business offering in existing markets, with a particular focus on product development that will help accelerate daily usage of accounts.

Future plans include lending services for retail and business customers, extending high-interest savings accounts beyond the UK, further improving customer service, premium and metal subscription accounts, adding more workforces, and rolling out banking operations across Europe.

Thai coding talent platform QUEST receives funding from REAPRA

Thailand-based coding talent platform QUEST has received an undisclosed amount of seed funding from Singapore-based VC firm 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. The company monetises service by workforce reskilling program.

The company plans for an expansion to the online conferencing business partnering with Reach LeanSpace, turning it into a turnkey solution for education SMEs in Thailand.

Singapore’s Tonik Financial snags US$6M funding to launch a digital bank in the Philippines

Tonik Financial, a Southeast Asian digital bank based in Singapore, announced today it has raised US$6 million in an equity funding round, led by Insignia Ventures Partners and Credence Partners, with participation from regional family offices and angel investors.

As per a DealStreetAsia’s article, it will use the funding to support the launch of its digital bank in the Philippines after its subsidiary – Tonik Digital Bank  – received approval from Bangko Sentra Ng Pilipinas (BSP), the central bank of the Philippines, to provide digital banking services, such as retail banking, deposits, and consumer loans, in the country.

Also Read: US-based JUUL introduces its smokeless e-cigarettes in Indonesia

The financial technology company was founded by CEO Greg Krasnov in 2018. Tonik was built by fintech venture builder Forum, which was also founded by Krasnov and it provides retail financial products, including deposits, loans, current accounts, payments, and cards on what the company considers as a highly secure digital banking platform.

E-cigarettes firm JUUL Labs halts sales to Indonesian retailers

Stating the conduct of a global reorganisation exercise, operations, strategies and organisation reviews in each of its markets looking to reset the category and earn the trust of society, e-cigarette JUUL Labs‘s distributor in Indonesia, PT JUL, has paused new sales to the retailers in the country indefinitely.

“At JUUL Labs, while we aim to provide the ~67 million adult smokers in Indonesia with an alternative to combustible cigarettes, it is also critical to us that underage smokers do not have access to the product,” said ​Ken Bishop, President, APAC South, JUUL Labs.

“That is why, together with PT JUL, we have taken the decision to suspend sales of our products to physical and online retailers in Indonesia indefinitely until we have had the opportunity to fully evaluate our ability to work with these retailers to increase and enforce age restrictions and compliance measures,” Bishop continued.
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Picture Credit: Revolut

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