Technology in education has followed two main trajectories in recent years. One revolves around digitalising the classroom (projection, laptops, touch screens, and VR in some cases), the other around bringing content and user-experiences online (apps to help teachers, parents and student connect and track, numerous subscription-based websites offering content).

While these are all important in moving education up the technology ladder, the Holy Grail perhaps is, one day, technology will help us reproduce the classroom and teacher to pupil experience seamlessly.

When news of COVID-19 started to blanket the media in January 2020, we at The Brainery Code immediately implemented precautionary measures such as travel declarations, LOA (Leave-Of-Absence), and classroom safe distancing. In addition, we were also concern about business continuity.

The Brainery Code started in 2015 and currently has two centre locations in Singapore with almost 300 active students. We believe that the one thing that sets us apart is our readiness for future challenges.

Our company has always planned ahead, as we first broached the possibility of conducting online lessons two years ago. We would do a rudimentary exploration of platform options and brainstorm on how we would deliver without compromising lesson quality.

Also Read: Why a Singapore coding school founder is funding a startup in Kazakhstan

Thus, when the situation presented itself, we were able to rapidly roll out home base learning (HBL) in early February.

Fail to plan? Plan to fail

In early February, we started offering HBL, even though we were still allowed to run onsite lessons then. We were anticipating the needs of a small group of students who may be placed on LOA, or parents who might want to keep their kids at home if the situation did not get better.

Many enrichment centres did not take this step at the early stage of the outbreak, which highlighted the fact that many in the industry have yet to take the steps to go digital.

This reluctance is perhaps buttress by the parent’s demand for onsite facetime as a non-negotiable in deciding the efficacy of an enrichment lesson.

While our initial sign-up for HBL was modest (about 10 students –a mere four per cent of our students), it did allow us to fine-tune and improve after each lesson, which was invaluable. Delivering coding lessons such as our Python Coder programme online was relatively straightforward, but when we figured out how to move our Robo Coder robotics programme online utilising the Remote Access Control feature on our conferencing platform, we realised that we have accomplished something significant. Students could now programme their robots remotely.

When the government announced on March 25 that all onsite enrichment lessons will be suspended, we kicked our HBL sign up into full gear. By April 4, we had about 100 of our students on HBL. As of May 19, this number was 150 or about 55 per cent of our students and still growing.

Also Read: Singapore-based coding school for children Saturday Kids raises US$1M seed funding round

While our teachers were still able to teach HBL lessons from our centre, we started preparing them to conduct lessons from home instead.

When the government eventually announced that all (except essential services) would have to work from home effective April 7, we were ready. In fact, parents did not notice any difference when our instructors transitioned to “teach from home”.

As we’ve also moved our business processes such as invoicing into the cloud, we were not tied down to the traditional location bound Point-of-Sales (POS) system, and as such, adopting these technologies has enabled us to continue operating virtually out of our homes.

At The Brainery Code, we aim to constantly innovate to enhance our students’ learning experience. The enrichment industry needs to embrace new technologies and perhaps go out on a limb to change perception and expectation.

This is important, not just for situations such as the COVID-19 pandemic, but as a way of sustaining students’ interest for technology and the benefits it can bring to their learning. It is my belief that many in the industry will emerge out of COVID-19 better prepared and more resilient.

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Image Credit: Sasin Tipchai from Pixabay

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Asia’s digital health company Hello Health launches in the Philippines under Hello Doctor

Hello Health, a digital health company in Asia which focusses on the development of educational healthcare information platforms in local languages, has officially launched its ninth platform in the Philippines – Hello Doctor.

Hello Health dubbed itself as the developer and distributor of digital health information to patients and consumers, with the goal to empower them to make more informed decisions. It also aims to enable health and wellness brands to connect to a highly engaged audience.

In the Philippines, Hello Doctor aims to empower a potential audience of over 100 million Filipinos with medically verified, relevant, and useful health information via its website and social channels.

Hello Doctor works with a network of local and international healthcare professionals to ensure the content is thoroughly researched and medically accurate. The platform has launched initially in English but is also localised for Filipino audiences.

Plug and Play partners with Filipino conglomerate Filinvest to accelerate digital adoption in different industries

Philippine conglomerate Filinvest Development Corporation has partnered Plug and Play in an effort to fuel innovations in property and real estate technology, as well as in adjacent sectors in energy and sustainability, mobility, property tech, smart living, and IoT.

The agreement signing was to symbolise both parties’ commitment to collaborate on programs with global startups.

Also Read: These 20 startups are joining the 4th batch of Plug and Play Indonesia

Filinvest will work with Plug and Play to access pioneering tech-driven businesses across 20 verticals.

Josephine Gotianun-Yap, President and CEO of Filinvest Development Corporation said, “We see that smart, digital technologies will drive the future of the property industry. We want to leverage tech as much as possible to transform our business, engage our customers and locators, as well as help make a lasting positive impact on the local communities.”

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Image Credit: Plug and Play

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At the core of every successful startup is a vision driven by innovative products and services and a solid business model. However, in order to enable startups to scale and access a larger market, they also need a steady flow of funds to allow them the capacity to improve technological infrastructure, expand the workforce, and embolden marketing efforts.

Sourcing money for such business ventures can be difficult given the competitive market. In Southeast Asia’s vibrant startup ecosystem alone, this proves to be even more challenging considering the volume of startups in the region’s market.

Startups need to standout. They need ample visibility that not only lets them showcase their innovative products and services, but also lets investors know that they are looking for fundraising opportunities.

Traditionally, funding opportunities can come in the form of accelerators, incubators, and venture building programmes that often transpire at physical events. But with today’s unique challenges, there is a need to create spaces where startups and investors can connect with one another digitally.

Take the first step: visibility

One of the benefits of signing up for an e27 Pro membership is our unique and exclusive Fundraising Widget featured on the e27 homepage. This feature allows companies to let investors know who they are and what they do.

From there, investors can access startup profiles on e27 and explore crucial information about each of them. From information on founding teams to funding rounds, and coupled with comprehensive company information, startups have the capability to add compelling information to catch investors’ attention for potential funding or partnerships.

Considering the unique challenges present in today’s global economy, startups stand to gain a lot from being able to put their names out there. With much of the global economy shifting to the digital sphere, startups need to be visible digitally.

The fundraising widget is only one of the many key features that come with an e27 Pro membership. By signing up for Pro, you can enjoy a slew of exciting things including access to e27’s investor database, access to relevant, curated, and actionable news and insights geared for business success through the e27 Ecosystem Roundup, and the power to get in touch with your dream investors through e27 Connect.

Staying true to its name, an e27 Pro membership means taking your company to a more professional level, all while supporting your company and the vibrant startup community that we all operate in.

Join e27 Pro

Be a part of the Pro community and sign up for an e27 Pro membership today! You may visit here for more details.

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Advance raises funding to help Filipino workforce to access salary without waiting for payday

Manila-based fintech startup Advance has secured an undisclosed sum in a seed funding round, led by American VC firm Next Billion Ventures, according to DealstreetAsia.

Also joining the round are Dymon Asia Ventures and Accion Venture Lab.

The latest round of capital will be used to improve Advance’s current technology and operations, as well as to explore different products and new markets.

Advance helps Filipino workers receive financial assistance before they receive their paycheck to avoid borrowing money for daily needs.

“We’ve heard so many horror stories of people with an urgent need for cash resorting to payday lenders due to the lack of quality options. We knew that we could provide a much safer alternative to keep them away from endless debt cycles,” Advance Co-founder and CFO Addi Guevara said.

CapBay announces partnership with TheLorry to offer financial solutions for SME lorry drivers

CapBay, a P2P supply chain financing platform, has announced a partnership with TheLorry to offer financial solutions to SME lorry drivers, according to a press statement.

Under the agreement, lorry drivers can now easily apply for collateral-free financing upfront and defer toll expenses up to 60 days later.

Also Read: News Roundup: Hello Health launches in the Philippines as Hello Doctor

This partnership also marks the launch of “The Express Financing program” which aims to increase the accessibility of digital financing solutions for financially underserved SMEs.

Zendesk’s new COO aims to accelerate the company’s growth in APAC

Zendesk has appointed Wendy Johnstone, who had previously spearheaded senior marketing and operations in Salesforce, IBM and Microsoft, as new regional COO

Johnstone will be responsible for growth acceleration in the Asia Pacific region, which accounts for more than 10 per cent of its global business, as of Q1 2020.

Johnson’s predecessor, Sandie Overtveld, has been elevated as Vice President, Strategic Enterprise Accounts for APAC and EMEA, and is now based in Europe.

Zendesk is a San Francisco-based customer service platform that develops software to foster customer relationships.

SoftBank’s Vision Fund to lay off 10 per cent of employees after historic losses

SoftBank’s Vision Fund is planning to lay off 10 per cent of its employees after posting a record operating loss of over US$12.7 billion, according to Bloomberg.

The company refused to comment on the layoff.

“It makes sense that SoftBank is cutting positions at the Vision Fund as they are in a tough situation, and they may start targeting highly paid workers to cut costs,” said Koji Hirai, Head of M&A advisory firm Kachitas Corp.

Also Read: Roundup: Jack Ma steps down from SoftBank board

Furthermore, the Vision Fund has reportedly incurred further losses as a result of the ongoing COVID-19 pandemic.

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Image Credit: Fabian Blank

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As the pandemic evolves into a full-blown recession, startups and businesses are worried about the “big bucks”.

In this webinar, we hosted industry stalwarts Paul Meyers, Coach, mentor and strategic advisor at Stealth Mode Consultancy and Co-founder of Antler, Jussi Salovaara to talk about where VC funding is headed, and the growing role of impact investing and future of investing.

In a nutshell

Meyers said that as a founder-cum-investor, this was his third major economic shakeup. But it is very different from 2008 and 2009.

The good news is that deals are still happening even if not as many as before. VCs have a lot of dry powder so funding will resume. But he also cautioned that companies will continue to fail.

He reiterated that “disruption also creates opportunity. Uber, Slack, and WhatsApp were all started during that period. Disruption creates innovation.”

Salovaara was still a banker during the last recession and he is currently in a “cautiously optimistic” mood when it comes to early-stage startups.

“We have not seen any large scale withdrawal from the market. There is a bit of shell-shock and it is more of a delaying factor, but I feel it will pick up soon. Angel investors naturally being more conservative,” he added.

Key takeaways

• The big Limited Partners in VC funds are often financial institutions and don’t have another place to allocate the funds, so rest assured that capital will not disappear. However, it will get conservative.
• Everyone has to show a COVID-19 proof business model, a cash management plan. Founders will need to be more sound about ‘how they are going to make money and when, as it will be a major question investors will be asking.
• Unit economics and path to profitability are making a big comeback in the post-COVID-19 season in SEA. So maintain solid business fundamentals.
• The IPO market will be cooler and slower in the near future. Tech startup IPOs are not so big in SEA anyway. So exits are going to be slow.
• But M&As can go up and strategic acquisitions may rise. There will also be increased consolidation in specific verticals. Bigger players who are well funded will make some but it will still be slower than normal.
• Holding on to money and being judicious with their spending is a good strategy for an early stage. Once a product-market fit is identified they can consider fundraising.

Also read: Preparing for the future in a fireside chat with Cocoon Capital founders

• Team dynamics play an important role in how a company grows. This kind of a situation puts it to test. How they bond together, work together, or not. So hang in there!
• COVID-19 is a catalyst and there are opportunities in many verticals. While medtech and e-commerce are the obvious gainers, it is also worth looking for tech-based solutions to everyday chores and activities.
• Be cautious not to step into a very popular vertical either, as it will be too crowded. The real opportunity is in less-crowded areas.
• Bear in mind that there is no such thing as a local SEA business. Since the region is so diverse, there is no local. The flip side is that you have to respect all the various markets and their needs and cultures.
• Business model innovation is critical — it doesn’t require research or scientific discovery.
• Use this time is an inflection point to pivot your career. Use this time to also learn and equip yourselves with tools to become a better entrepreneur. There has never been a better time to learn.

Words of wisdom for founders

• While VCs are tuning in to virtual meetings and Zoom pitching sessions, leave no stone unturned to get a warm introduction.
• Get creative but don’t underestimate the power of cold reach-outs. Everyone likes a nice surprise.
• It underlines that you have to have a strong pitch — mechanically and physically. Keep your pitch clear and clean.
• There is a lot of information available these days, and make the most of it. Go for walks and listen to podcasts in the ecosystem.
• A path to profitability may seem futile as numbers may not be accurate. And sometimes the founder’s assumptions may not be precise, but it matters in the longer run. Its a test of logic and helps avoid mistakes of unrealistic assumptions.
• All investors understand it means nothing when it comes to the real numbers game but it’s a good way to assess a founder.

Resources

• Meyers recommended the DocSend Pitch metric report that tracks pitch deck interest and engagement for the startup community.
• Recommended by our speakers: Audiobook version of VentureDeals
• Full video of the webinar session, in case you missed it:

Food for thought

• How effective are equity crowdfunding platforms from your experience for early-stage firms?
• Meyers was not too keen on tagging the post-pandemic life as the new normal. Do you have a better name?
• Do investors still want to see traditional startups?

Call to action

• We are hosting a Meet the VC series to get to know the investors in our ecosystem more closely. Join us for a coffee chat with LPs from Qualgro and iGlobe Partners in June.
• While funding is an important aspect, startups ought to still communicate and cultivate their customer base. VP of Customer engagement at Tokopedia will be joining us to share his tips on how to keep your customers happy in a post-pandemic world.

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e27 Pro membership will further empower you with insights, tools, and opportunities that help you solve the problems that hold you back. Begin your company’s journey to success here.

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GoBear, a Singapore based fintech startup, has raised US$17 million in a funding round led by returning investors Walvis Participaties, a Dutch VC firm, and Aegon N.V., a Netherlands-based asset management company, according to a press statement.

The company said that the latest round of capital will be utilised for continued expansion across three growth pillars: An online financial supermarket, digital insurance brokerage, and digital lending, “all built on a strong foundation of alternative data”.

Following its latest acquisition of lending platform AsiaKredit, the company also has plans of expanding into other markets in Asia.

It currently has a presence in seven Asian markets including Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

Also Read: Financial products comparison firm GoBear acquires lending platform AsiaKredit to build regional reach

“Our latest fundraise is validation that our investors continue to see our potential for growth and that we’re on track to build a robust financial services platform that Asia needs,” said CEO Adrian Chng. “Built on our strong foundation of alternative data, we can better assess and price risk, co-create better products, and ultimately improve financial inclusion.”

Chng claims that GoBear’s digital insurance brokerage segment has seen a 52 per cent increase in average order value in the last three months.

The company has also registered a 50 per cent year-on-year revenue growth from loan products, it added.

Founded in 2015, GoBear was initially meant to be a metasearch engine, before making a transition into financial services. It currently has over 100 commercial partners, including banks and insurance providers, and is used by over 55 million people.

Last year, GoBear raised US$80 million from Aegon and Walvis Participaties. Since which, its revenues claims to have increased by over 100 per cent from consumer finance products.

This marks GoBear’s fifth fundraise to date.

In the past month, fintech startups in the region continued to gain investors’ attention. In April, fintech startups such as Investree, Modalku, and KoinWorks raised their later stage funding rounds despite uncertainty in the market due to a global health crisis.

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Image Credit: GoBear

 

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Join us in the second episode of OC27 Livestream Talkshow! It’s happening tonight, 27 May 2020 at 9:30PM SGT. Register here.

Tonight’s episode will feature cult-builders Janice Wong and Indra Kantono as they talk about how they built their brands to capture an avid following, as well as strategies they have taken as their businesses fight for survival during lockdown.

Janice Wong is the Founder of Singapore favourite 2am:Dessertbar, the Janice Wong brand, and a three-time World Gourmet Summit Awards Pastry Chef of the Year.

Indra Kantono is the Co-Founder of Jigger Pony Group, the winner of Asia’s Best Bar 2020.

OC27 is a joint project of e27 and Open Circles, a community of global leaders: visionary entrepreneurs, social innovators, investors, and creative pioneers. The Open Circles community has a common goal of mobiliSing action and solving global problems.

Each episode is in support of a chosen charity. Grab a virtual post-dinner drink with us and support the “6000 at-risk elderly fund” by Lion Befrienders, to provide essential items, customiSed programmes, and activities to the isolated elderly in Singapore during COVID-19.

By participating in the web talk show, you will not only be learning from the best and the brightest veterans in the business today, but you will also be contributing valuable help to a worthy cause. Sign up here to save your slot.

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 appeared first on e27.

Mobile-based marketplace Carousell launches property platform in Hong Kong

Singapore-based mobile marketplace Carousell announced that it has launched a property listing platform Carousell Property in Hong Kong, partnering one of the city’s biggest realtors Midland Realty. According to a report by Forbes, it aims to provide listings of local and overseas residential and industrial properties for sale and rent through its Carousell mobile application.

Carousell Property offers services such as Home Services that include home repairs, moving, renovation; Home & Furniture that include furniture and gardening, and Kitchen and Appliances; as well as a chatroom to connect to merchants directly.

Carousell also partners with moving company Going Moving and coworking company Metro Workshop for its property platform.

Fund management firm Helicap Investment appoints Aura Group to sub-manage fund

Helicap Investments, a fund management company in Singapore, has appointed fellow fund management company Aura Group as a sub-manager to a fund that it manages. Aura itself is a Registered Fund Management Company in Singapore.

HIPL utilises the proprietary credit analysis technology of its parent company, Helicap Pte Ltd (Helicap), to assess and have an understanding of the alternative lending sector. The alternative lending sector provides a low correlation to other traditional asset classes to investors and promotes access to sustainable debt financing for underbanked and unbanked borrowers in the region.

Also Read: Singapore-based lending platform Helicap raises US$5M to go to Indonesia

With the partnership, Aura will draw on its expertise in the credit sector in both Singapore and Australia.

India-based fintech startup HomeCapital receives seed funding from Varanium NexGen, others

Mumbai-operated fintech startup HomeCapital has secured seed funding from Varanium NexGen Fund.

Venture Catalysts, JITO Incubation and Innovation Foundation, Singapore Angel Network, Venture Gurukool, and Shalin Shah also participated in the funding round.

According to a report by Money Control, the company said it plans to expand its operations and scale up the technology infrastructure with the new funding.

HomeCapital focusses on helping millennial homebuyers in getting a half of the initial cost of their down payment at zero interest. The loan then can be repaid over the next one to two years.

Ziliqa launches social media initiatives to support Red Cross’s COVID-19 relief efforts

Singapore crypto startup Zilliqa has launched a social media initiative as a way of giving back to the local community and to support Singapore Red Cross’s COVID-19 relief efforts islandwide.

Using Twitter, Zilliqa will be rewarding users who tweet about its #ZILCovidHeroes campaign with 25 $ZIL, the platform’s native cryptocurrency. For every 25 $ZIL sent to a user, Zilliqa will match this amount with a donation to the Singapore Red Cross.

Users will also be able to donate directly to Singapore Red Cross in Singapore dollars, with local residents and corporates eligible for a 2.5 per cent tax deduction. The campaign will be running from Tuesday, May 26 to Thursday, May 28 at 8PM SGT.

Also Read: Fintech platform Xfers pilots Ziliqa-powered stablecoin StraitsX, to build a transparent ecosystem

As part of the campaign, Zilliqa is also working with NextID, a Singapore-based, worldwide blockchain-powered certificate issuance service that allows users to send a personalised Certificate of Appreciation to their own COVID hero. This certificate will be permanently stored and secured on blockchain and leverages the Singapore Government’s OpenCerts format for Verifiable Credentials.

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Image Credit: Carousell

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Adjust: E-commerce apps are beginning to recover from global health crisis

Adjust, a  global app marketing platform, has released a new report that shows that e-commerce apps are beginning to recover since early April, with installs and in-app sessions growing.

In comparison to March, 43 per cent of users have already returned to their favourite e-commerce apps, with paid apps increasing in installs from March to April.

Despite the e-commerce industry being shellshocked by the global health crisis, according to the data, e-commerce companies have a high chance of returning back to normal.

Also Read: GoBear grabs US$17M in funding to accelerate its financial services across Asia

“The reason is that many consumers expect behavioural changes in others and less in themselves. They criticise someone flying halfway around the world just to attend a business meeting but are already anticipating taking a flight for their next vacation. So, we can probably expect quite a high degree of bounce-back in terms of consumer behaviour,” commented Sven Arn, CEO of Happy Thinking People.

India’s Ola acquires Dutch startup Etergo to launch an electric two-wheeler

Ride-hailing company based in India, Ola, has announced the acquisition of Amsterdam-based startup Etergo to launch a premium two-wheeler electric vehicle in 2021, according to YourStory.

Through the acquisition, the startup is betting on a cleaner and more efficient solution for urban mobility post-COVID-19.

“Ola Electric aims to launch its global electric two-wheeler in India in 2021. This acquisition will further bolster Ola Electric’s strong engineering and design capabilities with the Etergo team’s extensive vehicle development experience with leading automotive companies like Tesla, General Motors, Ferrari, Jaguar, and BMW. Etergo’s team will continue to be based out of Amsterdam as they join Ola Electric,” the company wrote in the statement.

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Image Credit: Unsplash

 

 

 

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Singapore-based AI-empowered data platform Sentient.io has received a Series A funding led by Japanese digital media Digital Garage Group, together with a corporate VC firm of TV station Asahi Broadcasting Group Holdings Corporation, ABC Dream Ventures.

Joining the round are deep tech accelerator Leave a Nest Group.

The company said it intends to use the new fund to scale the platform to the global market, especially to fulfil the surging demand for the Digital Transformation from Japanese corporations.

Also Read: Here are the top startups in the Singapore AI scene, plus some observations from an investor perspective

Sentient.io offers a built AI and Data Platform which seeks to empower software developers to pick from its pre-trained AI microservices that can help them to create smart applications which are powered by AI and for big data owners, like telcos, manufacturers, government, and mass media companies to generate the new values from their data asset.

Christopher Yeo, Founder and CEO of Sentient.io, said: “Sentient.io will continue to raise funds from the international financial markets to enable us to expand our talent in research, sales, and engineering with a strategic focus on developing businesses in the Urban Living, Digital Economy, and Next Generation Wellness industries as an AI service provider.”

Yeo also added that the company plans to expand into Indonesia and the U.S.

Sentient.io is backed by the national technology research institution in Singapore, A*STAR and the global technology venture capital, BEENEXT.

To-date, the Company has raised more than US$5 million investment since its inception in May 2017.
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Picture Credit: Unsplash.com/@shanerounce

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