If there is one thing that is clear from the get-go, is that digitisation is here to stay, and the law industry surely has been riding on the digitasation waves for quite some time.

According to a report by Tech Collective SEA, in 2017, Thomson Reuters announced a 484 per cent increase in global legal tech patents over a five-year period, globally.

In 2018, Southeast Asia also unveiled its first legal tech accelerator called Accelerate! It is a 100-day programme that looks to raise US$1.8 million and provides mentorship and seed funding to legal tech startups, as well as incubates new business ventures from law firms. The positive development in the sector created a growing enthusiasm to innovate in the digital and technical reach.

However, according to Lee Eng Beng, Chairman of law firm Rajah & Tann Asia, one of the pioneers in the legal tech front in Southeast Asia, the digitisation that the sector has seen has been nothing but crowded and overlapping in its functionality.

“The new technology has been causing frustration among legal departments and law firms when it shouldn’t be the case. This fragmentation of technologies has created a pressing need for a platform that enables clients and lawyers to have a cohesive single view of all legal matters,” Lee explains to e27 in a Q&A session.

Also Read: Indonesian legal tech startup Legalku raises seed funding from UMG Idealab

Lupl was then born as a result of over 12 months-work from a handful of legal tech practitioners. It’s an online platform that brings together all existing and new legal matters — people, documents, information, communications, and technology applications — into one secure software.

The team behind the work

The founders consisting of a group of legal departments and law firms have been preparing the platform for nearly two years. Currently, it’s managed by Chief Commercial Officer Matt Pollins, with the Board of Directors comprising partners from CMS, Cooley, and Rajah & Tann Asia.

According to Lee, the Board works together with many other members in all the firms that are actively involved in the project, brought together by a common understanding of the problems facing the industry and a vision for how to fix them.

Lee adds, “Strong business and personal relationships amongst the founding firms were key, as were the joint passion and purpose of the founding firms to collaborate on a project that all of us hoped would benefit the global legal community. The conceptualisation and execution of the project have since undergone many iterations and changes and always with direct inputs from our Client Advisory Board.”

What makes it different

“Unlike the majority of legal technology solutions out there, Lupl doesn’t seek to replace existing tools or require an entire IT overhaul to implement. The platform is essentially an operating system that works entirely on APIs and allows any firm to start using it instantly without having to invest heavily in any new tech infrastructure,” says Lee.

It is worth noting Lupl’s API offer is the answer to what Lee called fragmentation of technologies in legal tech. “Not to mention, not every legal tech platform works well as it must not only be effective and well-designed, but must also understand the nature of legal work, the challenges encountered by clients and lawyers, and the ways in which it can truly enhance efficiency, collaboration, and connectivity amongst clients and lawyers,” which is why API approach works best.

Pollins also notes that one of the biggest pain points the team came across was the feeling that the moving parts of a legal project ended up being spread around in multiple places, which makes it hard to stay on top of who’s doing what and where.

“Lupl’s platform aims to address these pain points by bringing those different parts together in one place. And it works right from the beginning to the end of the project. Anyone can create a matter on Lupl, whether they’re on their phone or at their desk,” Pollins explains.

Also Read: Indonesian legaltech startup Justika raises pre-Series A funding by top law firm

On average, it takes less than 10 seconds to get started, with no training needed. From there, users can bring in team members, whether they are within or outside of their organisation; define the scope and objectives; coordinate on the work that needs to get done; track and manage the status; communicate; and capture key feedback and data points.

“Lupl’s open approach means they can do all this while seamlessly plugging in their own systems of choice, like enterprise messaging tools, email, document management and cloud storage systems, and knowledge solutions,” says Pollins.

Lee adds that Lupl seeks only to minimise change and disruption to legal departments and law firms. “We aim at enabling a single seamless view of all content across all of their existing technology platforms in one place.”

The challenges

Lee continues that despite the ease that the platform offers, challenges remain present, especially in communicating about the platform’s capability and to familiarise it.

“It’s because Lupl runs counter to many other digital platforms that seek to create a closed and proprietary environment. Despite being an open and agnostic platform, it is not a platform created by law firms for themselves and to serve their clients,” says Lee.

So to ensure the message is received clearly, Lee says that they’re focussing on educating the legal marketplace that Lupl can be “the independent unifying platform that enables a single matter centric view of all live matters across all of their platforms and software for the benefit of all law firms and legal departments”.

How COVID-19 plays out for legal tech sector and the future

Lee shares that COVID-19 has provided a hard push to clients and lawyers in the adoption of legal tech generally. This has led to a multiplicity of different technology platforms being deployed rapidly by clients and lawyers and a greater reliance on mobile working workflows to accommodate work-from-home needs.

“We believe that the pandemic will lead to increased adoption by law firms to move to the cloud. With greater mobility, we foresee that onsite legal software systems may face a downturn arising from COVID-19,” says Lee.

As for what is coming next in the sector, especially in Southeast Asia, Lee sees the sector as being at its nascent stage.

Also Read: What tech startups need to know about the legal aspects of online marketing

“We are still in the early stages of the growth cycle in the Southeast Asia legal tech market. The realities of any technology market are that products like Lupl will develop through increasing adoption by local law firms and legal departments,” Lee says.

Taking into account how younger generations of professionals entering the legal workforce are more open to using technology, legal tech sector can remain hopeful that there will be greater legal tech penetration.

“But that as long as these legal tech products are being developed by placing clients’ needs at its core,” Lee concludes.

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Image Credit: Bill Oxford on Unsplash

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Singapore-based martial arts events broadcasting platform, One Championship, has secured US$70 million in funding from a group of undisclosed investors, according to various reports.

The names of the investors were, however, not disclosed.

Prior to this round, One Championship nabbed US$166 million in Series D led by Sequoia Capital, with participation from Temasek and Greenoaks Capital, in late 2018. This was preceded by two investment rounds in 2017 and 2016. Its other investors are GIC, Iconiq Capital, and Mission Holdings.

Founded in 2011 by former martial arts champion Chatri Sityodtong, One Championship focusses on a mixed martial arts entertainment, with a global broadcast reach of 2.7 billion potential viewers across 150-plus countries.

The platform features bouts across the full spectrum of martial arts such as Muay Thai, Kickboxing, Mixed Martial Arts, Karate, Silat, Sanda, Lethwei, Taekwondo, and Submission Grappling.

Several martial arts organisations have signed exclusive contracts with the platform, which also broadcasts contents to leading global broadcasters.

The company currently has offices in Tokyo, New York City, Los Angeles, Shanghai, Milan, Beijing, Bangkok, Manila, Jakarta, and Bangalore, besides Singapore.

Also Read: Sports media giant ONE Championship raises US$166M in Series D funding round

The funding for One Championship has been an optimistic outcome following its recent layoffs, forcing the company to let go of its worldwide headcount by 20 per cent and with no live events since March.

According to One Championship group President Hua Fung Teh, although being rocked by the pandemic, One Championship remains positive to move forward and to return to the scene.

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Picture Credit: ONE Championship

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The Philippines-based fintech startup Tonik Financial has raised US$21 million in a Series A funding round, led by Sequoia India and US-based Point72 Ventures.

Existing investors Insignia Ventures Partners and Credence also participated,

According to a TechCrunch report, the funds will fuel its plans to launch a digital bank aimed at the Southeast Asian market by September this year.

In May this year, the firm had obtained a licence to operate the digital bank in the Philippines.

Tonik was developed by fintech venture builder Forum, which was founded by Greg Krasnov, who now serves as Chief Executive of Tonik. Krasnov’s experiences included the incubation of four financial services startups in Asia.

Also Read: News Roundup: CoolBitX, Tonik Financial raise funding; e-cigarettes firm JUUL halts sales to Indonesian retailers

Tonik provides retail financial products, including deposits, loans, current accounts, payments, and cards on a highly secure digital banking platform.

Krasnov noted that since the start of the year, there has been an increase in demands for digital banking and transfers for over 70 per cent of its unbanked population.

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Photo by Bryan Agua on Unsplash

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Reebelo raises funding led by June Fund, Antler

Reebelo, a Singapore-based online marketplace for pre-owned electronic items, has raised a seed round of funding led by June Fund with participation from Antler.

The startup will use the funding to build a sustainable technology trading platform and to expand its Singapore-based team.

David Rosskamp, Managing Partner of June, is joining the company’s board.

Reebelo.com offers a registered second-hand goods dealer and offers an extended warranty on its e-commerce site, where customers can find pre-owned technology devices. All phones, notebooks, tablets and gaming devices are carefully checked by experts who control 40-plus checkpoints.

According to Founder and Chief Products Officer Fabien Rastouil, Reebelo offers customers the option to sell their used devices for cash through their online trade-in tool.

“Reebelo’s vision is to build a circular economy for electronics. Together with our team, we try to change the way people consume tech devices at a more sustainable pace — one device at a time,” said Philip Franta, Founder and CEO at Reebelo.

Singapore-based B2B software provider Anchanto launches multi-channel e-commerce app

Anchanto, a B2B software provider that enables enterprises to manage end-to-end e-commerce operations, has launched a mobile app of its product SelluSeller.

An online platform, SelluSeller aims to bring complex e-commerce sales, operations, revenue, business performance against marketplace service-level agreement and data in real-time to CXOs and business leaders on Android and iOS platforms.

Also Read: Singapore startup Anchanto raises funding to expand e-commerce logistics platforms in Asia

With the app, customers are given access to a smart dashboard that gets updated in real-time with sales data, product performance, and e-commerce channel-wise performance.

The app enables a bird’s eye view of business that can help business owners to make better-informed decisions even when they are on the move. Users can also monitor the productivity of their operations team in real-time.

Retail-tech startup Perpule to expand to SEA, introduces e-commerce enablement product

India-based retail tech startup Perpule has expanded its business to Southeast Asia through its e-commerce enablement product Perpule E-Commerce+.

In a report by Retail4Growth, the company said that it targets modern retailers that span categories like fashion, grocery, electronics, food and others — operating in Indonesia, Malaysia, Vietnam, Thailand, Singapore, and the Philippines.

Perpule E-Commerce+ seeks to drive e-commerce readiness to help the retailer community restart their operations post-COVID world.

Abhinav Pathak, CEO and Co-founder, said that Perpule Ecommerce+ operates from offline stores and has all the necessary integration with payment gateways, logistics players, ERP, POS, Loyalty, and so on, all to make e-commerce enablement much easier for retailers.

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Photo by Yeo Khee on Unsplash

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All eyes will be on Hong Kong from 6th to 10th of July. Amid the new normal, the fifth StartmeupHK is pushing through virtually, and the fully online event promises an equal – if not better – experience as its previous in-person counterparts.

The week-long experience of startup events will feature keynote addresses by renowned industry figures from around the world, exhibitions, investor matching and a jobs fair, and will be open for free to attendees across the globe, with additional paid premium sessions. The festival will showcase the latest developments in smart cities, retail tech, artificial intelligence, fintech, lifestyle tech, and global startup trends and insights. True to its theme, it represents a unique opportunity for startups, entrepreneurs, investors, industry leaders, students and government representatives to connect, exchange ideas and benefit from business opportunities in Hong Kong, Mainland China and elsewhere in Asia.

Charles Ng, InvestHK’s Associate Director-General of Investment Promotion, emphasised that despite the challenges, “Hong Kong’s startup ecosystem continues to be resilient.”

He credits their solid track record as a testament to Hong Kong’s enduring appeal as a platform for startups to settle, grow, launch, and expand into other markets.

He added, “The number of startups in Hong Kong in 2019 reached 3,184, up by 21 per cent year on year. And, importantly, the number of people working in the city’s startup sector grew 31 per cent to 12,478. Hong Kong’s appeal as a startup hub extends to a wide variety of industries, with sectors such as fintech, e-commerce, supply chain management and logistics technology all having experienced phenomenal growth in recent years.”

Citing InvestHK research on the city’s start-up ecosystem, Charles pointed out that about one-third of startup founders came from outside Hong Kong, with the United States, Mainland China and the United Kingdom being the leading three places of origin.

Five days of connected experience

From Day 1 to Day 5, StartmeupHK promises a myriad of impactful and connected events, hosted by various partners of the festival:

• • July 6, Day 1 – The Connected Cities Conference hosted by KPMG will showcase innovations for the next generation of urban living. Global and regional speakers from academia and business, including leading entrepreneurs, will discuss successful smart cities around the world and how smart technologies, including the Internet of things, artificial intelligence and data analytics can enhance a city’s liveability, workability and sustainability.

• • July 7, Day 2 – The Connected Retail Experiences, hosted by Bailey Communications, is a full-day virtual fair and half-day conference for retailers and brand owners. These stakeholders understand that retail is changing and they’re looking for solutions to help reposition their businesses. The event will encompass the technology and innovation that goes into creating seamless branded retail experiences across all channels, as well as the future of retailing and how retailers are able to harness the power of the data lakes of information that they hold on their customers’ purchasing habits.

• • July 7-8, Day 2-3 – The Startup Impact Summit 2020, hosted by WHub ,will be what its name suggests – an event that brings together the local and international tech communities to showcase ideas and create impact. The event will feature multiple tracks with stages dedicated to venture capital, innovation, social impacts, and the Guangdong-Hong Kong-Macao Greater Bay Area and overseas markets. It will also include startup pitches, a job fair, a startup village, workshops, investor matching and a masterclass, as well as an Asia-wide hackathon. The event aims to connect entrepreneurs, corporates, investors and students, and help the audience gain practical skills to start and scale their business.

• • July 9, Day 4 – An exciting double-header of the Lifestyle Tech Conference and the Ecosystem Summit will commence. The Lifestyle Tech Conference, hosted by Jumpstart Media, will provide key insights into the global startup ecosystem. The half-day virtual conference will bring together high-value speakers from around the world, dissect today’s top trends, and share the experiences of the most promising startups, investors, corporates and change-makers disrupting our world today. It will also include a curated full-day virtual investor-matching session. The event will offer a sneak peek into the future of everyday life – participants will be able to hear first-hand on how lifestyle tech is changing the way we live, eat, work and shop.
  • Meanwhile, the Ecosystem Summit, hosted by the Mills Fabrica, will focus on ways to foster and grow the startup ecosystem in Hong Kong and internationally. With a series of panels and roundtables, the half-day event will highlight ways to develop entrepreneurial talent through education and incubation, transform corporates through innovation, take Hong Kong startups global, and promote the city as a world innovation hub.

• • July 10, Day 5 – The Hong Kong Financial Institutions Awards 2020 Forum will end the festival on a strong note. Hosted by Sina Finance, with support from the Center for Investing at the Hong Kong University of Science and Technology and S&P Global Market Intelligence, the forum and awards ceremony will celebrate the success of innovators in Hong Kong’s financial sector and recognise awardees’ contributions to the city’s financial markets. This year’s theme is “The road ahead: How will entrepreneurs be adaptive to the changing world in the next decade?”.

An embodiment of the Hong Kong startup ecosystem in action

Jayne Chan, the Head of StartmeupHK at InvestHK mentioned, “Now entering its fifth year, this year’s festival will be truly an embodiment of the Hong Kong startup ecosystem in action – from investors who provide the capital to fuel technological development to startup owners who push the boundaries and corporations that embrace new technological solutions.”

She adds, “participants will be able to witness first-hand how these movers and shakers are transforming every aspect of our lives, by the minute and for the better. The year 2020 marks the start of a new decade. Now it’s time for all of us to join forces to harness the wind of innovation and chart a course for the future.”

To follow the latest startup developments in Hong Kong, please visit www.startmeup.hk.

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